IndiGo promoters Rahul Bhatia and Rakesh Gangwal have made their debut in the top 10 of India’s leading self-made entrepreneurs, reflecting the scale and growth of the country’s largest airline. The ranking comes from the IDFC First Private and Hurun India’s Top 200 Self-made Entrepreneurs of the Millennia 2025 report.
IndiGo has grown into India’s biggest airline, reaching a valuation of ₹2.2 lakh crore in 2025. The company commands around 65% of the domestic aviation market, giving it a strong lead over competitors. Over the years, the airline has focused on a low-cost model, high aircraft utilisation and operational efficiency, which has helped it scale rapidly.
The airline has also expanded its international network at a fast pace. Alongside this, IndiGo has taken steps towards sustainability, including testing biofuels and using fuel-efficient aircraft, aligning with global aviation trends.
Despite its strong market position, IndiGo’s parent company, InterGlobe Aviation, has faced recent challenges. The stock has fallen by over 21% in December so far, following disruptions linked to flight cancellations. These issues emerged after the airline struggled to implement new aviation rules earlier in the month. The decline highlights how operational challenges can impact market sentiment, even for industry leaders.
The 2025 list is led by Deepinder Goyal of Eternal, whose business valuation stands at ₹3.2 lakh crore, marking a strong increase from the previous year. Radhakishan Damani of Avenue Supermarts follows closely, even as his company’s valuation saw a decline over the year.
Other notable names include the founders of Swiggy, Paytm and Lenskart, all of whom recorded sharp changes in valuation. The list shows how digital platforms, consumer brands and technology-led businesses continue to shape India’s entrepreneurial landscape.
The combined value of all companies on the list has risen to ₹42 lakh crore in 2025, up 15% from last year. The number of billion-dollar companies founded by self-made entrepreneurs has increased to 128. Bengaluru remains the leading hub, hosting the highest number of companies on the list, despite a slight decline in overall count.
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The entry of IndiGo’s founders into the top 10 highlights the airline’s dominance in Indian aviation and the long-term value created by disciplined growth. While short-term disruptions have affected share performance, the ranking reflects IndiGo’s broader business scale and influence within India’s entrepreneurial ecosystem.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
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Published on: Dec 18, 2025, 11:51 AM IST
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