India’s Top Firms Add ₹148 Lakh Crore in Market Value by 2025

India’s top 100 listed companies have significantly enhanced their market value, adding a remarkable ₹148 lakh crore between 2020 and 2025. This data emerges from the latest Wealth Creation Study published by Motilal Oswal Financial Services. The report identifies this period as the onset of a long-term compounding cycle that is expected to drive substantial economic growth for the country.

The study projects that India’s Gross Domestic Product (GDP) could increase fourfold, expanding from $4 trillion to $16 trillion over the next 17 years. This growth is anticipated to be fueled by rising incomes and increased financialization across the economy.

Leading Contributors to Wealth Creation

Among the standout performers, Bharti Airtel emerged as the largest wealth creator, boosting its market value by ₹7.9 lakh crore. Following closely were ICICI Bank and State Bank of India (SBI), both of which played significant roles in the wealth creation landscape during this period. The Bombay Stock Exchange (BSE) recorded an impressive 124% compound annual growth rate (CAGR), reflecting the robust performance of these firms.

The study also recognized Hindustan Aeronautics Ltd (HAL) as the most consistent wealth creator, demonstrating steady performance throughout the evaluation period. The financial services sector emerged as the largest contributor to overall wealth creation, supported by strong credit growth and improved balance sheets. Other sectors that contributed to this upward trend included industrials, capital markets, technology, and utilities.

Public-sector enterprises also made notable gains in the arenas of defense, energy, and utilities, with HAL, Bharat Electronics Limited (BEL), and NTPC among the primary contributors to this revival.

Insights on India’s Financial Growth

The report highlights that India’s financial wealth has shown consistent growth, with the market capitalization compounding at an annual rate of 17% over the past two decades. Currently, the country’s market capitalization stands at 1.3 times its GDP, indicating a significant alignment between market performance and economic strength.

Furthermore, the study suggests that sectors such as financials, capital markets, and consumer discretionary are poised to benefit from rising penetration and scale in what is described as a powerful era of compounding. This insight provides a hopeful outlook for investors and stakeholders in India’s economic landscape.

As companies continue to thrive and contribute to wealth creation, the findings from the Motilal Oswal Financial Services report serve as a testament to the resilience and potential of India’s corporate sector in the coming years.