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India’s Most Valuable Family Businesses List in 2024: In recent years, family-owned businesses in India have evolved significantly, reflecting the dynamic changes in the country’s economy and society.
Being the cornerstone of the Indian economic framework, today they are at the forefront of innovation and growth, substantially contributing to the nation’s GDP.
As India emerges as a global economic powerhouse, the influence of these family-run enterprises has become increasingly pronounced, driving sectors ranging from manufacturing and services to technology and retail.
With a threshold of Rs. 2,700 crore to qualify, about 124 families boast a valuation of over $1 billion, with the top three family businesses alone accounting for ₹46 lakh crore, equivalent to the GDP of Singapore, the latest 2024 Barclays Private Clients and Hurun India’s Most Valuable Family Businesses list states.
Not so surprisingly, the Ambani family, led by Mukesh Ambani, has emerged as the clear leader with a staggering valuation of ₹25.75 lakh crore ($309 billion), which is nearly 10% of India’s GDP, through their interests in energy and telecommunications.
Following closely behind in second position is, the Bajaj family business with a total value of ₹7.13 lakh crore, while the Birla family occupies the third spot with a valuation of ₹5.39 lakh crore, recognised for its significant contributions to the automobile sector.
With a valuation of ₹15.45 lakh crore, the Adani family, who is supported by the next generation, tops the list of first-generation entrepreneur families. Following next is the Poonawalla family, renowned for managing the Serum Institute of India, with a value of ₹2.37 lakh crore.
Notably, Mumbai has emerged as the hub for family businesses, contributing 65 companies to the list, followed by Kolkata (17) and New Delhi (15). Explore the list of the top 10 most valuable family-owned Indian businesses in 2024.
It’s worth noting that the top 10 India’s family-led businesses have an impressive total worth of INR 6,009,100 crore, as reported by the 2024 Barclays Private Clients Hurun India’s Most Valuable Family Businesses.
The table showcases the most valuable family-owned enterprises in the country, highlighting the significant economic influence wielded by these family-run conglomerates.
| Rank | Family name | Company name | Valuation (in ₹, CR) | Headed by | Industry |
| 1 | Ambani Family | Reliance Industries | ₹25,75,100 | Mukesh Ambani | Energy |
| 2 | Bajaj Family | Bajaj Group | ₹7,12,700 | Niraj Bajaj | Automobile & Auto Components |
| 3 | Kumar Mangalam Birla Family | Aditya Birla Group | ₹5,38,500 | Kumar Mangalam Birla | Metals & Mining |
| 4 | Jindal Family | JSW Steel | ₹4,71,200 | Sajjan Jindal | Metals & Mining |
| 5 | Nadar Family | HCL Technologies | ₹4,30,600 | Roshni Nadar Malhotra | Software & Services |
| 6 | Mahindra Family | Mahindra & Mahindra | ₹3,45,200 | Anand Mahindra | Automobile & Auto Components |
| 7 | Dani Family, Choski Family and Vakil Family | Asian Paints | ₹2,71,200 | R. Seshasayee | Chemicals & Petrochemicals |
| 8 | Premji Family | Wipro | ₹2,57,900 | Rishad Premji | Software & Services |
| 9 | Rajiv Singh Family | DLF | ₹2,04,500 | Rajiv Singh | Real Estate |
| 10 | Murugappa Family | Tube Investments of India | ₹2,02,200 | M. A. M. Murugappan | Automobile & Auto Components |
Source: 2024 Barclays Private Clients and Hurun India’s Most Valuable Family Businesses
Please note: For the methodology, a next-generation member must actively manage the business or serve on its board, with the rankings based on company valuations as of March 20, 2024, excluding private investments and liquid assets while adjusting for cross-holdings to avoid double counting.
Late Dhirubhai Ambani (1932-2002): Founder of Reliance Industries
Mukesh Ambani (s/o Dhirubhai Ambani): Chairman and Managing Director of Reliance Industries Limited (RIL)
Nita Ambani (w/o Mukesh Ambani): Founder of the Dhirubhai Ambani International School and Chairperson of Reliance Foundation
Children of Mukesh and Nita Ambani:
