Reliance tops in Barclays - Hurun's Most Valuable Family Businesses list

Posted by NILESH WAGHELA

Mumbai: Barclays Private Clients and Hurun India released the 2024 Barclays Private Clients Hurun India Most Valuable Family Businesses list, ranking India’s most valuable family businesses by value. To be included on the list, a next-generation member from the founding family must be actively involved in managing the business or serving on its board. Value calculations are as of 20 March 2024.

Commenting on the launch – Nitin Singh, Head of Private Bank Asia Pacific  said, “Barclays Private Clients is pleased to partner with Hurun India, in celebrating India’s most valuable family businesses. The 2024 Barclays Private Clients Hurun India Most Valuable Family Businesses highlights the crucial role family businesses play across diverse industries, driving economic growth and innovation. Generations of dedication and vision has made Indian family businesses the bedrock of our economy, proving that tradition and progress can go hand in hand. The fact that 69% of the most valuable family businesses consists of second-generation family businesses, with the remainder being third generation or older, speaks volumes about the resilience and adaptability of Indian family businesses. As is evident, family businesses remain powerhouses of growth and resilience in the modern era".

“Barclays Private Clients has been around for 16 years and to date and our aim is to create personalised solutions that make our UHNI clients feel more confident and more inspired than if they banked or invested anywhere else. We support large industrialists and families with established businesses, predominantly in the public listed space. We advise India’s most influential industrialists & families as well as founders of private unlisted companies, start-ups and Indian unicorns. As one of the top tier foreign banks in India, we provide a full-suite of specialist investment, banking, lending and wealth advisory solutions to the world’s most influential people and their families in 40 countries through our global network of private bankers,” he added.

Commenting on the launch – Anas Rahman Junaid, Founder and Chief Researcher, Hurun India said 

"Indian family businesses are the heartbeat of the nation's economy, embodying resilience, innovation, and a deep-rooted legacy of entrepreneurial spirit. For instance, around 75% entrants in the list registered a growth in value compared to that of last year. The objective of 2024 Barclays Private Clients Hurun India Most Valuable Family Businesses is to highlight the role of family businesses in Indian economy."

"With 28 companies in the industrial products sector valued at INR 458,700 Cr, and 23 companies in the automobile sector and 22 in the pharmaceuticals sector valued at INR 1,876,200 Cr and INR 788,500 Cr respectively, these businesses are pivotal in enhancing India's global competitiveness and economic resilience. The significant industry diversification of these family businesses demonstrates their essential role in maintaining and advancing long-term economic stability and growth in India." 

"From daily essentials to groundbreaking innovations, Indian family businesses weave the fabric of our everyday lives, reflecting a blend of heritage and forward-thinking. Everyday essentials we rely on often come from the business run by 2024 Barclays Private Clients Hurun India Most Valuable Family Businesses. Whether it's the “bhujia” served at weddings from Haldiram's, the medicines we take from Cipla, or the biscuits from Britannia we enjoy with chai, these family enterprises are integral to our daily lives. They form the backbone of both the manufacturing and services sectors, with 169 manufacturing businesses generating around INR 68 Lakh Cr in value. This includes major names in personal care like Godrej and Dabur, and automotive giants like Bajaj and Mahindra & Mahindra. In the services sector, leaders like HCL and Wipro add a combined value of INR 40 Lakh Cr, highlighting the indispensable role of family businesses in India's economy".

“In launching the first edition of the list, Hurun India is excited to collaborate with Barclays Private Bank, an esteemed division of Barclays, known for its centuries-long legacy and experience in working with families around the world”, concluded Anas Rahman Junaid.