The Top 10 Biggest Companies in India
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The Top 10 Biggest Companies in India

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The Top 10 Biggest Companies in India

The Top 10 Biggest Companies in India

When India hosted the 13th BRICS summit in September 2021, it was the sixth-largest economy in the world with a GDP of $3.05 trillion.

That’s more than double the GDP it had when the country first joined the group of emerging economies in 2009 (alongside Brazil, Russia, China and later South Africa), at $1.3 trillion.

What are the major industries and companies driving this growth in GDP, and rising alongside it? This time we’re highlighting the top 10 biggest companies in India, the world’s most populous democracy.

What Are the Biggest Public Companies in India?

India’s growth to one of the world’s most powerful economies came extremely quickly, considering it only became a federal republic in 1950.

In 1951, the country was considered relatively impoverished compared to the Western world, with 361 million people, a per-capita income of just $64, and a literacy rate of 17%. By 2021, the population had surged to 1.2 billion, income rose to $1,498, and literacy climbed to 74%.

And most of that growth was fueled internally, as the Indian government was largely protectionist until the 1990s. Today, its free market policies and wide cultural reach help bolster the country’s massive industrial, agricultural, and telecommunications industries.

Here are India’s biggest public companies by market capitalization in October 2021:

Top 10 Indian CompaniesCategoryMarket Cap (USD)
Reliance IndustriesOil and Gas$230.7B
Tata GroupInformation Technology$186.7B
HDFC BankFinancial$135.1B
InfosysInformation Technology$94.4B
Hindustan UnileverPersonal Care$85.6B
Housing Development Finance Corporation (HDFC)Financial$66.0B
ICICI BankFinancial$65.7B
Bajaj FinanceFinancial$61.7B
State Bank of IndiaFinancial$54.3B
Kotak Mahindra BankFinancial$53.3B

Topping the charts are two massive conglomerates, Reliance Industries with a market cap of $231 billion and Tata Group with a market cap of $187 billion.

Reliance started in textile production before a string of oil discoveries and purchases saw it overtake state-owned oil enterprises in revenue. Now the conglomerate also has holdings in petrochemicals, retail, telecom, and mass media, making chairman and largest shareholder Mukesh Ambani the richest person in Asia with a net worth of $100 billion.

But India’s largest conglomerate is Tata Group, with more than 25 subsidiaries in IT (its largest income source), airplanes, food and beverages, and industrials. Tata Motors is India’s largest vehicle manufacturer, and the owner of South Korea’s Daewoo and the UK’s Jaguar Land Rover.

India’s Top 10 Biggest Companies Mainly in Financials

Outside of major conglomerates and a well-known subsidiary, India’s top 10 biggest companies are concentrated in the financial sector.

One of those is HDFC Bank with a market cap of $135.1 billion. An offshoot of the #6 ranked company Housing Development Finance Corporation, HDFC Bank is India’s largest private sector bank by assets.

In total, financials make up six of India’s 10 biggest companies. In addition to HDFC, they include banking provider ICICI Bank (which also has subsidiaries in the UK and Canada), commercial lending company Bajaj Finance, and banks Kotak Mahindra Bank and State Bank of India (the country’s first national bank and its largest).

But there were two non-financial companies bigger than most of India’s banks; Financial software developer and consultant Infosys and personal products company Hindustan Unilever, a subsidiary of British consumer goods giant Unilever.

India is also an agricultural powerhouse—the world’s largest producer of milk and second largest of tea—but most of it is consumed internally by its sizable population. Agriculture accounts for 18.1% of the country’s GDP, behind services at 55.6% and the industrial sector at 26.3%.

With more rapid economic growth on the horizon, India’s biggest companies list might shift over time. What other companies or industries do you associate with India?

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Agriculture

Charted: U.S. Egg Prices More Than Double in 2022

This chart shows the increase in the national average price of a dozen Grade A eggs in the U.S. in 2022.

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This chart shows the increase in the national average price of a dozen grade-A eggs in the U.S. in 2022.

Charted: U.S. Egg Prices Double in 2022

Eggs are a staple food for many countries around the world, and the U.S. is no exception. Americans eat between 250‒280 eggs a year on average.

Eggs are also easy to cook, protein-dense and supply many daily vitamins needed for healthy living, making them a popular meal or ingredient. So when egg prices rise, people notice.

MetalytIQ charted the rapid rise of egg prices in the U.S. during 2022, using data from the U.S. Bureau of Labor and Statistics (BLS).

Eggs-asperating Prices

Over the course of 12 months, the national average price for a dozen large Grade A eggs more than doubled, to $4.25 in December from $1.93 in January.

Egg Prices Per Month (2022)Price per dozen
January$1.30
February$2.10
March$2.50
April$2.52
May$2.86
June$2.71
July$2.94
August$3.12
September$2.90
October$3.42
November$3.59
December$4.25

The biggest culprit has been an avian flu outbreak that resulted in 43 million chickens culled to prevent the spread of the disease.

This led to a severe shortfall in egg supply. Egg inventories in December had fallen by one-third compared to January. Combined with increasing demand during the holiday season, prices skyrocketed and empty shelves became apparent in some states.

This is not the first time avian flu has disrupted the industry.. In 2015, a similar outbreak pushed egg prices up 40% in nine months, reaching a high of $2.97 per dozen eggs in September 2015.

Will Egg Prices Drop in 2023?

Avian flu isn’t the only storm the egg industry has been facing in 2022.

The prices of soybean and corn—the main components of bird feed—account for half of the cost of eggs. They’ve been heavily affected by the war in Ukraine, which has driven grain prices higher.

In the near-term, egg prices are expected to remain high. Containing the avian flu outbreak will remain the biggest factor in determining the prices, but as suppliers increase production, prices may cool off a little in 2023.

Eggs and dairy make up nearly 10% of the average person’s daily calorie intake. Check out the rest of our dietary make-up in Visualizing a Rapidly Changing Global Diet.
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