The Ambani family has once again secured the top spot in the Barclays-Hurun India report’s most valuable family businesses list, boasting an impressive valuation of ₹25.75 trillion. This staggering figure is nearly equivalent to 10 percent of India’s GDP, underscoring the sheer influence and scale of Reliance Industries under the leadership of Mukesh Ambani. The rankings, based on company valuations as of March 20, 2024, exclude private investments and liquid assets, and adjust for crossholdings to prevent double counting.
Trailing the Ambani’s, the Bajaj family, headed by Niraj Bajaj, claimed the second position with a valuation of ₹7.13 trillion. The Birla family followed closely in third place with a valuation of ₹5.39 trillion. Together, the combined value of these top three family businesses amounts to $460 billion, equivalent to the GDP of Singapore.
The report also highlighted other prominent family-run businesses, with the Sajjan Jindal-led family securing the fourth spot at ₹4.71 trillion and the Nadar family in fifth place with a value of ₹4.30 trillion. Notably, Roshni Nadar Malhotra, representing the Nadar family, is the only woman featured in the top 10 family businesses list.
First generation family businesses
When it comes to first-generation family businesses, the Adani family emerged as the frontrunner, valued at ₹15.44 trillion. This significant achievement places them far ahead of other first-generation businesses. The Poonawalla family, owners of the Serum Institute of India, ranked second with a valuation of ₹2.37 trillion. Following them is the Divi family, with a valuation of ₹91,200 crore, securing third place.
Anas Rahman Junaid, founder, and chief researcher at Hurun India, emphasized the crucial role these family businesses play in enhancing India’s global competitiveness and economic resilience. He noted that the diversification within these industries is pivotal for maintaining and advancing India’s long-term economic stability and growth.
Nitin Singh, head of Barclays Private Bank, Asia Pacific, commented on the success of multi-generational businesses in India, highlighting their ability to navigate the complexities of the Indian market. According to Singh, these businesses have thrived by mastering the nuances of working within India’s diverse and intricate environment over the years.
