India’s family-run enterprises have once again proven their unmatched dominance in the nation’s economic landscape, as Barclays Private Clients and Hurun India unveiled the 2025 Barclays Private Clients Hurun India Most Valuable Family Businesses List. Now expanded to 300 families — with 100 new entrants — the list reveals a combined valuation of USD 1.6 trillion (INR 134 lakh crore), surpassing the GDP of nations like Turkey and Finland. At the top sits the Ambani family for the second year running, followed closely by the Kumar Mangalam Birla and Jindal families, underscoring a legacy of intergenerational wealth, innovation, and industrial leadership.
India’s most powerful family-run businesses are not only shaping the country’s economic future but also reinforcing their global influence. The 2025 Barclays Private Clients Hurun India Most Valuable Family Businesses List reveals staggering figures — with the top 300 generating INR 7,100 crore in value every single day last year and contributing INR 1.8 lakh crore in taxes, equivalent to 15% of India’s corporate tax collections.
Ambani, Birla, Jindal in the Top Three
The Ambani family, valued at INR 28.2 lakh crore (around one-twelfth of India’s GDP), maintains its position at the top. The Kumar Mangalam Birla family climbed to second place with INR 6.5 lakh crore, while the Jindal family entered the top three at INR 5.7 lakh crore. Together, these dynasties are worth INR 40.4 lakh crore (USD 471 billion) — equivalent to the GDP of the Philippines.
Rising Wealth Thresholds and Expanding Influence
The threshold to qualify for the 2025 list rose sharply to INR 1,100 crore, while the Top 50 and Top 200 benchmarks jumped by 31% and 70% respectively. Industrial products lead in representation, while the automobile and auto components sector boasts the highest average valuation at over INR 52,000 crore.
Women and Professional Leadership on the Rise
This year’s list highlights a positive shift towards diversity and governance, with 22 companies led by women and 62 run by professional CEOs — both notable increases from last year. Nearly three-quarters of the companies are publicly listed, reflecting greater transparency.
Philanthropy and Start-Up Investments
Beyond wealth, over 100 of these families appear on the Hurun India Philanthropy List 2024, donating INR 5,100 crore last year. Many have also invested in over 600 start-ups spanning fintech, clean tech, and consumer brands — blending legacy business with next-gen innovation.
Global and Domestic Impact
With representation across 45 cities — led by Mumbai (91 families), NCR (62), and Kolkata (25) — these businesses are deeply integrated into India’s cultural and economic fabric. From Haldiram’s holding its spot as the most valuable unlisted company (INR 85,800 crore) to 93-year-old Kanaiyalal Maneklal Sheth of Great Eastern Shipping being the oldest active leader, the list celebrates both heritage and adaptability.
Nitin Singh, Head of Barclays Private Bank, Asia Pacific, noted that the list reflects “an unprecedented INR 130 lakh crore in wealth expected to transfer across generations over the next five years” and a “growing community of Global Indians” shaping the country’s growth from both within and beyond its borders. Anas Rahman Junaid, Founder and Chief Researcher at Hurun India, highlighted the resilience of these firms amid global headwinds, calling them “the heartbeat of our nation’s economy.”
Anas Rahman Junaid, Founder and Chief Researcher of Hurun India, described Indian family businesses as “The heartbeat of our nation’s economy,” noting that the 2025 list now spans 300 families worth USD 1.6 trillion — exceeding the combined GDP of Turkey and Finland. He highlighted how private equity is no longer just knocking but actively reshaping boardrooms, with billion-dollar stakes in brands like Haldiram’s and strategic investments in sectors from automobiles to pharmaceuticals. Even amid challenges like rising global tariffs, Junaid believes India’s multi-generation enterprises are uniquely positioned to adapt, given their proven resilience through wars, recessions, and the pandemic.
The 2025 Barclays Private Clients Hurun India Most Valuable Family Businesses List is more than just a ranking of wealth — it is a testament to India’s enduring entrepreneurial spirit, deep-rooted family legacies, and the ability to adapt in an evolving global economy. From creating millions of jobs to investing in innovation and driving social impact, these families remain the backbone of India’s growth story. As the next generation takes the helm, blending tradition with modern strategy, India’s family-run enterprises are poised to not only preserve their heritage but also redefine their role on the world stage.
