The Ambani family has secured the top spot in the Barclays-Hurun India report's list of most valuable family businesses, with a valuation of ₹25.75 trillion, nearly equivalent to 10 percent of India’s GDP.
The rankings are based on company valuations as of March 20, 2024, excluding private investments and liquid assets, and have been adjusted for cross-holdings to prevent double counting.
Following the Ambanis, the Bajaj family ranks second with a valuation of ₹7.13 trillion, led by Niraj Bajaj.
The Birla family takes third place with a valuation of ₹5.39 trillion. Combined, the top three family businesses are valued at $460 billion, which is equivalent to the GDP of Singapore, according to the report.
The list also includes the Sajjan Jindal-led family, valued at ₹4.71 trillion in fourth place, and the Nadar family, valued at ₹4.30 trillion in fifth. Notably, Roshni Nadar Malhotra of the Nadar family is the only woman among the top 10 family businesses.
The Adani family emerged as the most valuable first-generation family business, with a valuation of ₹15.44 trillion, followed by the Poonawalla family, owners of Serum Institute of India, with a valuation of ₹2.37 trillion in second place.
The Divi family ranks third among first-generation businesses, with a valuation of ₹91,200 crore.
Nitin Singh, head of Barclays Private Bank, Asia Pacific, remarked, “India is a complex country, composed of various states and factors. It rewards those who understand how to navigate this complexity. Multi-generational businesses have thrived over the years by mastering this environment."
