The Barclays-Hurun India report stated that the Ambani family’s wealth stands at ₹25.75 trillion, which is nearly 10 per cent of Bharat’s GDP. This valuation is based on company valuations as of March 20, 2024, and excludes private investments and liquid assets, with adjustments for cross-holdings to prevent double counting.
In the rankings, the Bajaj family follows in second place with a valuation of ₹7.13 trillion, led by Niraj Bajaj. The Birla family is in third place with a valuation of ₹5.39 trillion. Together, the top three family businesses are valued at $460 billion, which is comparable to the GDP of Singapore.
The fourth spot is occupied by the Sajjan Jindal-led family, valued at ₹4.71 trillion, while the Nadar family holds the fifth position with a valuation of ₹4.30 trillion. Notably, Roshni Nadar Malhotra of the Nadar family is the only woman among the top 10 family businesses.
For first-generation families, the Adani family tops the list with a valuation of ₹15.44 trillion. They are followed by the Poonawalla family, owners of the Serum Institute of Bharat, with a valuation of ₹2.37 trillion. The Divi family ranks third with a valuation of ₹91,200 crore.
Anas Rahman Junaid, founder and chief researcher at Hurun India, commented, “With 28 companies in the industrial products sector valued at ₹458,700 crore, 23 companies in the automobile sector, and 22 in the pharmaceuticals sector valued at ₹1,876,200 crore and ₹788,500 crore respectively, these businesses are crucial in enhancing Bharat’s global competitiveness and economic resilience. The significant industry diversification of these family businesses highlights their role in sustaining and advancing long-term economic stability and growth in Bharat.”
Nitin Singh, head of Barclays Private Bank, Asia Pacific, noted, “Bharat’s complexity rewards those who excel in navigating its multifaceted environment. Multi-generational businesses have thrived by adapting to and mastering this complex landscape over the years.”
