India's top 300 family businesses control a combined $1.6 trillion: Report

New Delhi: Barclays Private Clients and Hurun India have released the second edition of the '2025 Barclays Private Clients Hurun India Most Valuable Family Businesses List', revealing that India's top 300 family businesses control a combined Rs. 134 lakh crore (USD 1.6 trillion) in value, surpassing the GDP of Turkey and Finland.

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.