According to the 2024 Barclays-Hurun India report on the most valuable family businesses in the nation, the Ambani family has topped the inaugural Barclays-Hurun India most valuable family businesses list. Their valuation of Rs 25.75 trillion is nearly equal to one-tenth of India’s GDP. The main industries served by the family’s corporate empire, Reliance Industries, are telecom, retail, and energy.
Based on the firm values as of March 20, 2024, the rankings are determined. In order to avoid duplicate counting, the technique accounts for cross-holdings and eliminates private investments and liquid assets. The Ambani family’s stake in Reliance, Jio Platforms, Reliance Retail, and other companies are included in their fortune.
The Ambani family is followed by the Bajaj family in the second position with a valuation of Rs 7.13 trillion. The Pune-based automobile business is headed by Niraj Bajaj, a third-generation leader, as per the report. The Birla family ranks third at Rs 5.39 trillion, led by fourth-generation Kumar Mangalam Birla. The business primarily focuses on metals, mining, cement, and financial services.
The top three family businesses’ interests are valued at $460 billion, equivalent to the GDP of Singapore, stated the report.
The list further features the Sajjan Jindal-led family, valued at Rs 4.71 trillion in fourth place, and the Nadar family with a value of Rs 4.30 trillion in fifth place. The Nadar family’s Roshni Nadar Malhotra is the only woman in the list of top 10 family businesses.
The 2024 Barclays Private Clients Hurun India Most Valuable Family Businesses list does not include first-generation families. However, the Adani family, set up by current chairman Gautam Adani, has emerged as the most valued first-generation family business with a value of Rs 15.44 trillion. The list further includes the Poonawalla family, the owners of Serum Institute of India, valued at Rs 2.37 trillion in the second position. Third on the list is the Divi family, another pharma major, with a valuation of Rs 91,200 crore.
“With 28 companies in the industrial products sector valued at Rs 458,700 crore, and 23 companies in the automobile sector and 22 in the pharmaceuticals sector valued at Rs 1,876,200 crore and Rs 7,88,500 crore respectively, these businesses are pivotal in enhancing India’s global competitiveness and economic resilience,” said Anas Rahman Junaid, founder and chief researcher, Hurun India. “The significant industry diversification of these family businesses demonstrates their essential role in maintaining and advancing long-term economic stability and growth in India.”
“India is a complex country. It is made up of various states and various things. It rewards people who know how to work in this complex environment. And I think that is what multi-generational businesses have been able to do over the years; they’ve been able to thrive in working in this complex environment,” Singh added.
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