Reliance Industries retained its top spot as India's most valuable non-state-run company, for the fifth straight year, as per 2025 Burgundy Private Hurun India 500 report. It was followed by HDFC Bank, Airtel, ICICI Bank and TCS. The combined value of the top 10 firms lost ₹11 lakh crore over the past year, but still accounted for 25% of GDP.