Indian-origin CEOs lead $15 trillion corporate empire: How much of that success benefits India?

Indian-origin business leaders now head companies with a combined valuation of $15 trillion, reflecting their growing influence across the global economy. However, the bigger question is whether India can translate this corporate leadership into greater domestic investment, technology development and employment opportunities.

According to Hurun India's findings, companies led by Global Indians collectively generate $2.5 trillion in annual revenue and employ approximately 5.3 million people worldwide. Their combined valuation has surged 53% over the past two years, driven partly by the rapid expansion of artificial intelligence and technology businesses.

Anas Rahman Junaid, Founder and Chief Researcher, Hurun India, told Business Today: “I would start by asking these companies what it would take to put their next research centre, global capability centre or manufacturing investment in India. They employ nearly 5.3 million people and generate US$2.5 trillion in annual revenue. Our indicative estimate is that around 21 million jobs worldwide depend on them when suppliers and related activity are included. India has an opportunity to attract a larger share of that activity. Micron's semiconductor facility in Gujarat is a useful example of the opportunity.”

Can India attract more global investment?

Junaid's observations highlight the opportunity for India to attract a larger share of global corporate spending on research, technology infrastructure and advanced manufacturing.

The expansion of global capability centres (GCCs), semiconductor facilities and research operations could generate skilled employment while strengthening India's position in international technology supply chains.

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Micron's semiconductor facility in Gujarat illustrates how investments by global technology companies can support India's ambitions to develop a domestic semiconductor ecosystem.

India's talent advantage and brain drain

India already plays a significant role in developing global corporate leadership. According to Hurun, 58% of the leaders on its list completed their undergraduate education in India, although many subsequently moved overseas for advanced education and professional opportunities.

Junaid said, “I see both sides. The fact that 58% of these leaders completed their undergraduate education in India says a lot about the talent we produce. They studied at institutions such as IIT Delhi, the University of Mumbai and IIT Madras. Most then went abroad for postgraduate study and access to deeper capital markets. We should take pride in their success, while asking what would make it easier to build businesses of that scale here.”

The challenge is particularly visible in artificial intelligence, with 13 of the 19 AI wealth creators identified in Hurun India's Rich List living outside India.

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What India must do next

Junaid believes India needs stronger research infrastructure, affordable AI computing resources and deeper domestic capital markets to create globally competitive technology companies.

“I would make it easier for companies to re-domicile in India and give founders and employees fair, predictable taxation of ESOPs. We also need stronger incentives for research and deep-tech funds, affordable AI compute for start-ups, and deeper pools of domestic capital for late-stage funding and IPOs. India has shown how quickly it can build consumer-tech companies. We need to give deep-tech founders the conditions to achieve the same scale,” he said.

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He also emphasised the importance of partnerships between global Indian business leaders, domestic start-ups and educational institutions.

“We should also make it easier for these leaders to invest in and mentor Indian start-ups, and build research partnerships between their companies and Indian universities. Predictable policy matters because these are long-term decisions. Many of these leaders began their education in India. I would like to see that connection translate into more investment and high-value jobs here. For me, that is a practical measure of what this network can achieve,” Junaid said.

For India, the real measure of this $15 trillion corporate network may ultimately be how much investment, innovation and high-value employment it can attract to the domestic economy.

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