Kohli has 19.8 million followers as on Monday. His account generated the biggest number of engagements when all likes and comments from the content that he shared in 2017 -- except 'Story' views and video views -- were aggregated.
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The list, which acknowledges photo-sharing platform Instagram's most engaging community members, also recognises Emerging Account and 20 Million Milestones.
In the Most Followed Account category, Priyanka Chopra trailed behind Deepika's 22.4 million followers with a count of 22 million, and Alia Bhatt rounded up the top three with 20.8 million followers.
Deepika said in a statement: "Staying connected with my fans and loved ones is extremely important to me. I value the love, support and connection I share with them and I hope I continue to remain true and authentic."
Actor Ishaan Khatter, who will be seen in "Dhadak", has been named for India's 'Emerging Account' for growing his fanbase on Instagram significantly throughout 2017.
For Ishaan, Instagram is his most loved social media platform.
"It's a non-stop source for inspiration from people and personalities all over the world. I find it especially enjoyable because it's about connecting through pictures and videos. On a more personal note it's almost like a time machine for your memories and a way to immortalise your favourite moments.
"It's lovely connecting with others through this medium and I look forward to being inspired and hopefully inspiring more people in the future, too," he said.
Alia also got a 'milestone plaque' with Shraddha Kapoor in recognition for building a community of 20 million followers.