Predicting which Indian company will first reach a $500 billion market cap is challenging, but Reliance Industries, led by Mukesh Ambani, is a top contender. With a current market cap of around $240 billion and strong growth in telecom, retail, and energy, it could hit the target by 2030 if economic trends and innovation continue. HDFC Bank, with a market cap near $150 billion, is another possibility, driven by its dominance in finance and India's economic resilience.