Top 10 most valuable family-owned businesses in India, as of 2024

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.

Top 10 most valuable family businesses in India 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

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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.

Ambani Family Business Tree:

Ambani’s Family Business Tree (Designed by: Cherry Gupta/Indian Express)

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:

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• Akash Ambani: Chairman of Reliance Jio Infocomm Limited (RJIL)
• Isha Ambani: Member of the Board at Reliance Retail Ventures Limited, Reliance Jio Infocomm Limited, Jio Financial Services Limited and Reliance Foundation (RF), Reliance Foundation Institution of Education and Research, and Dhirubhai Ambani International School.
• Anant Ambani: Director on the Boards of Jio Platforms Limited, Reliance Retail Ventures Limited, Reliance New Energy Limited, Reliance New Solar Energy Limited, and, Board of the Reliance Foundation