/squirrels/media/agency_attachments/Grmx48YPNUPxVziKflJm.png)
Follow Us/squirrels/media/media_files/MNUwAGSUYgx9fCMxaFzq.png)
Mukesh Ambani (L) and Gautam Adani (R)
The Ambani family business is roughly equivalent to 10 per cent of India’s GDP, going by estimates of the Barclays-Hurun India list of Most Valuable Family Businesses in the country. While the Ambanis topped the ranking with a value of Rs 25.75 lakh crore, the Adani family is the Most Valued First-Generation Family Business with a value of Rs 15.44 lakh crore.
The Barclays-Hurun India list took into consideration company valuation as on March 20, 2024. The list does not take into account liquid assets and private investments that a particular family may have, and has ensured there is no double counting owing to cross holdings.
INDIA’S RICHEST 10 FAMILIES EQUAL GDP OF UAE
While the Ambanis are at number one, the Bajaj family is in the second position. The family, headed by Niral Bajaj, is valued at Rs 7.13 lakh crore. The Birla family is in the third spot, valued at Rs 5.39 lakh crore.
The Barclays-Hurun India report says, put together, the value of the top three business families of India is roughly equal to the GDP of Singapore.
The total value of the top 10 families, on the other hand, is Rs 130 lakh crore. This is more than the GDP of countries such as the UAE and Switzerland.
THE TOP 10 FAMILIES
Following the top three families, the Jindal family in the fourth spot. The family, led by Sajjan Jindal, is valued at Rs 4.71 trillion.
The Nadar family’s Roshni Nadar Malhotra is the only woman in the list. The family, valued at Rs 4.30 trillion, is in the fifth spot.
The Mahindra family is at number six while jointly at position number seven are the Dani family, the Choksi family and the Vakil family. The Premji family is at number eight and the Rajiv Singh family is at number nine. The Murugappa family completes the top 10 countdown of the most valued business families of India.
ADANIS LEAD FIRST-GENERATION FAMILIES
The Adani family, led by Gautam Adani, is India’s Most Valued First-Generation Family Business, at Rs 15.44 lakh crore.
The Poonawalla family, who own of Serum Institute of India, is second in the list of first generation family businesses and are valued at Rs 2.37 lakh crore. The Divi family is at number three and is valued at Rs 91,200 crore.
MUMBAI HAS MOST BUSINESSES, KOLKATA SECOND
Mumbai is, not surprisingly, the chosen hub for family businesses, with 65 companies on the list based in the city, according to the report. Kolkata is in the second spot with 17 family businesses while Delhi ranks third with 15.
The list also gives an idea of the nature of businesses that are most preferred. Around 85 per cent of the companies sell physical products and the others are in the service sector. As many as 28 companies deal in industrial products, 23 companies deal in automobile and 22 companies in pharmaceuticals.