Mukesh Ambani-led family business worth Rs 25.75 trillion tops the list of Barclays-Hurun India family business report. Along with it, the Bajaj and Birla family take second and third position, respectively
Barclays-Hurun India report ranks the Ambani, Bajaj, Birla, Jindal and Nadar as the top five business families in India. The rankings in the report are based on the company valuations as of March 20, 2024. The report hasn’t taken private investments and liquid assets into consideration and excludes adjusts for crossholdings.
“India is a complex country...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,” said head of Barclays Private Bank, Asia Pacific, Nitin Singh.
The Mukesh Ambani-led family business is worth Rs 25.75 trillion, nearly one-tenth of India’s GDP, the report mentioned.
Following them is the Bajaj family business headed by Niraj Bajaj with a family business valuation of Rs 7.13 trillion. Next to them, occupying the position of the third most valuable family business is the Birla family with Rs 5.39 trillion. Clubbed together the wealth of the top three family businesses valued at around $460 billion is equivalent to Singapore’s GDP.
Sajjan Jindal-led family ranks fourth in the list with their family business valued at Rs 4.71 trillion. Followed by the Nadar family with a valuation of Rs 4.30 trillion in the fifth position.
While the Gautam Adani-led Adani family didn’t make it to the top 10, it topped as the most valued first-generation family business with a value of Rs 15.44 trillion. It was followed by the Poonawalla business family with a valuation of Rs 2.37 trillion.
Founder and chief researcher, Hurun India, Anas Rahman said, “The significant industry diversification of these family businesses demonstrates their essential role in maintaining and advancing long-term economic stability and growth in India.”
Consequently, the report also ranked Mumbai as the top headquarter destination of these top business families. Mumbai has around 65 headquarters followed by Kolkata with 17 and Delhi with 15.