The top 100 unlisted companies in India have reached a combined valuation of ₹28.5 lakh crore, worth more than Finland's GDP, according to Hurun India Unlisted Gems report. These companies together generated ₹8.9 lakh crore in revenue in 2025 while employing 12 lakh people in India. Reliance Retail emerged as the largest unlisted company, followed by Flipkart and Malabar Gold.