Ambani family's wealth 10% of India GDP: 2024 Barclays-Hurun India report
Mumbai/IBNS: The Ambani family has topped the inaugural Barclays-Hurun India most valuable family businesses list, with a valuation of Rs 25.75 trillion, which is almost equivalent to 10 percent of India’s Gross Domestic Product (GDP), reports Business Standard, quoting the 2024 Barclays-Hurun India report on the most valuable family businesses in the country.
The Reliance Industries-led family’s business empire primarily operates in the energy, retail, and telecom sectors, according to reports.
The rankings are based on the company valuations as of March 20 this year (2024), while methodology excludes private investments and liquid assets and adjusts for cross-holdings to prevent double counting, as per reports.
The value of Ambani wealth includes their share in Reliance, Jio Platforms, Reliance Retail, etc, reports Business Standard.
According to Barclays-Hurun India report, the Ambani family is followed by the Bajaj family in the second position with a valuation of Rs 7.13 trillion, and the Birla family in the third position with a valuation of Rs 5.39 trillion.
Reliance, Bajaj and Birla — the top three family businesses’ interests are valued at $460 billion, equivalent to the GDP of Singapore, according to the report.
The Barclays-Hurun India list further features the Sajjan Jindal-led family, valued at Rs 4.71 trillion in fourth place, and the Nadar family with a value of Rs 4.30 trillion in fifth place, reports Business Standard, adding that the Nadar family’s Roshni Nadar Malhotra is the only woman in the list of top 10 family businesses.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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