India's top 300 family businesses control a combined $1.6 trillion: Report
The Ambani family retains the top spot for the second consecutive year, with a valuation of Rs. 28.2 lakh crore, roughly a twelfth of India's GDP. Following closely, the Kumar Mangalam Birla family climbed one place to second with Rs. 6.5 lakh crore, while the Jindal family entered the top three for the first time with Rs. 5.7 lakh crore. Together, these three account for USD 471 billion (Rs. 40.4 lakh crore), a figure equivalent to the GDP of the Philippines.
The report notes that 100 new families entered the rankings this year, expanding the list to 300. These businesses generated an average of Rs. 7,100 crore every day in the past year, contributed Rs. 1.8 lakh crore in taxes, 15 per cent of India's corporate tax collections, and employed over 2 million people, more than the population of Bahrain.
In the first-generation business category, the Adani family leads again with Rs. 14 lakh crore, followed by the Poonawalla family of Serum Institute fame at Rs. 2.3 lakh crore. Anil Agarwal's family broke into the top 10 with Rs. 2.6 lakh crore, as the entry threshold for the top 10 rose to Rs. 2.2 lakh crore.
The study highlights a surge in billion-dollar family enterprises, with 161 families now valued above USD 1 billion, up 37 from last year. Haldiram's family remains the most valuable unlisted company for the second year at Rs. 85,800 crore. Notably, 22 family businesses on the list are led by women, while 62 have professional CEOs.
Mumbai dominates as the city with the most listed families (91), followed by the NCR (62) and Kolkata (25). Industrial products lead in numbers with 48 companies, but automobiles and auto components boast the highest average valuation at Rs. 52,320 crore.
The oldest business on the list belongs to the Wadia family, valued at Rs. 1.58 lakh crore, while 93-year-old Kanaiyalal Maneklal Sheth of Great Eastern Shipping stands out as the oldest active leader, steering a company worth Rs. 14,000 crore.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Times of Oman
12 hours ago
- Times of Oman
Gold prices extend gain for third consecutive session
Singapore: Gold prices rose for the third consecutive session today, supported by a weaker dollar and lower Treasury yields as traders' bets on a US interest rate cut in September increase. Spot gold rose 0.4% to $3,367.53 per ounce, and gold futures for December delivery added 0.3% to $3,416.70. The dollar fell to near multi-week lows against rival currencies, making gold cheaper for holders of other currencies, while 10-year US Treasury yields held near their lowest levels in a week. As for other precious metals, spot silver rose 0.2% to $38.56 per ounce, platinum fell 0.1% to $1,338.33, and palladium rose 1.3% to $1,136.70.
Times of Oman
12 hours ago
- Times of Oman
Dollar declines amid expectations of interest rate cut
Singapore: The US dollar fell to its lowest level in several weeks against major currencies today, amid market expectations that the US Federal Reserve will resume cutting interest rates next month. The dollar index, which measures the performance of the US currency against a basket of major currencies, dropped to 97.673 points, down about 0.8% over the past two sessions, before hitting 97.626 points on Wednesday, marking its worst performance since 28 July. The dollar declined 0.7% to 146.38 yen, its weakest level since July 24, while the British pound rose to its highest level since July 24, reaching 1.3590 dollar. Meanwhile, the euro held steady at 1.1712 dollar, slightly below Wednesday's peak of 1.1730, a level not seen since July 28.
Times of Oman
18 hours ago
- Times of Oman
Despite high US tariffs, India's current account deficit to stay below 1%: CareEdge Ratings
New Delhi: Amid the high tariffs imposed by US President Donald Trump on Indian goods, India's current account deficit (CAD) is expected to remain under 1 per cent during the current financial year. According to a recent report by CareEdge Ratings, the CAD as a percentage of GDP is projected at 0.9 per cent in FY26. The current account deficit (CAD) is an economic indicator that shows a country's total imports of goods, services, and transfers compared to its total exports and transfers to other countries. The rating agency said India's domestic-driven economy, with a relatively low share of goods exports to the US, around 2 per cent of GDP, will provide some cushion against the tariff impact. Exports to US in the first quarter of FY26, which accounts for 19.8 per cent of total exports, grew sharply by 22 per cent year-on-year. Exports to China also registered strong growth of 17.8 per cent. The strong performance in exports to the US was mainly driven by electronic goods, which is exempted from tariffs and accounts for 30 per cent share in India's total exports to the US. The report attributed this growth partly to front-loading of exports and the continuation of tariff exemptions for key sectors such as pharmaceuticals and electronics which are exempted from US tariffs. However, the higher tariff rates compared to other economies have increased pressure on India to negotiate a trade deal with the US. The report noted that while talks could be initiated, India is likely to remain cautious in opening up sensitive sectors such as agriculture and dairy. This means negotiations may take longer to conclude. Currently, key sectors like pharmaceuticals and select electronics remain on the exemption list, but the possibility of tariffs being extended to these products still exists. Sectors such as gems and jewellery, which fall under discretionary spending, could be affected by reciprocal tariffs. The report also pointed out that some of India's competitors in the US market, such as Vietnam and Indonesia, may benefit from comparatively lower US tariffs, particularly in categories like footwear, textiles, and leather. India's exports to Asia and Europe, which together account for 62 per cent of the country's total exports, saw a year-on-year decline in the first quarter of FY26. However, despite the challenges from higher US tariffs, the report outlined that these factors should help India keep its current account deficit within manageable levels this year.
