With 83 per cent of entrepreneurs being first-generation founders, the list reflects India's growing spirit of entrepreneurship and leadership.
U40 Entrepreneurs
The Avendus Wealth-Hurun India U40 List 2025 noted that 201 entrepreneurs under (the age of) 40 (U40) collectively lead enterprises valued at Rs 31 trillion ($357 billion), which accounts for nearly one-eleventh of India's gross domestic product.
Interestingly, with 83 per cent of entrepreneurs being first-generation founders, the list reflects India's growing spirit of entrepreneurship and leadership.
The remaining 17 per cent are spread across different generations of business families: 8 per cent are second-generation, 5 per cent third-generation, 3 per cent fourth-generation, and 1 per cent fifth-generation entrepreneurs.
Rs 31 Trillion Valuation
Karan Adani of Adani Ports and Special Economic Zone, Abhyuday Jindal of Jindal Stainless, Ishan Bansal of Groww, and Nandan Reddy and Sriharsha Majety of Swiggy are among the prominent names on the list.
With 1.39 million followers on LinkedIn, Nikhil Kamath of Zerodha topped the list of entrepreneurs with the highest digital reach.
Anas Rahman Junaid, founder and chief researcher at Hurun India, said, "India's new economic engine is increasingly powered by its young leaders.
"A remarkable new generation is redefining what career peaks look like in India, with many in their mid-thirties already building category-leading businesses across software-as-a-science, financial technology, healthcare, clean energy, logistics, and consumer brands.
"India's innovation map is expanding faster than ever, and this year's honorees illustrate how entrepreneurship has moved far beyond traditional boundaries."
India's Startup Economy
Among the toppers across different categories is Sanjay Jagannath (36), cofounder of Exponent Energy in Bengaluru, who is the youngest on the list, while Shreya Mishra (36), cofounder of SolarSquare, is the youngest woman on the list. There are only 15 women featured.
<p">Varun Kapur of Travel Food Services and Kapil Jain of Goldmedal Electricals lead the list with 18 years of professional experience each.
Among cities, Bengaluru leads with 48 featured entrepreneurs, reaffirming its position as India's U40 capital.
While the average age of the U40 cohort is 38, these entrepreneurs collectively employ more than 443,000 professionals.
Funding and Expansion
The software products and services sector dominates as the most represented industry, with 40 entrepreneurs, followed by healthcare with 18, transportation and logistics with 16, and financial services with 15.
Collectively, these entrepreneurs have raised over $22 billion in total funding.
U40-led companies are deploying funding strategically, allocating 29 per cent towards product development and expansion, the statement by Avendus Wealth-Hurun India observed.
Of all the U40-led ventures on the list, 53 firms are valued at more than $1 billion, 48 are valued between $201 million and $500 million, 23 between $500 million and $1,000 million, and 17 between $100 million and $200 million.
Among undergraduate institutions, the Indian Institute of Technology Kharagpur leads with 15 alumni, followed by IIT Delhi and IIT Madras with 10 each.
To qualify for the Avendus Wealth-Hurun India U40 List 2025, individuals must be aged between 36 and 40 years, with a minimum business valuation of $100 million for first-generation entrepreneurs and $200 million for those from second-generation backgrounds and beyond.
Key Points
- 201 U40 entrepreneurs lead businesses valued at Rs 31 trillion, nearly one-eleventh of India's GDP.
- 83% are first-generation founders, highlighting India's strong startup culture.
- Bengaluru tops the list with 48 entrepreneurs, cementing its startup hub status.
- Software and tech dominate, followed by healthcare, logistics, and financial services.
- U40-led firms have raised over $22 billion and employ 4.43 lakh+ professionals.
Feature Presentation: Ashish Narsale/Rediff
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