Rs130 Tn In Wealth Likely To Transfer Across Generations In 5 Years
FinTech BizNews Service
Mumbai, 18 August 2025: Barclays Private Clients and Hurun India released the 2025 Barclays Private Clients Hurun India Most Valuable Family Businesses List, ranking India’s most valuable family businesses. 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 30 June 2025.
( L to R) Nitin Singh, Head of Barclays Private Bank, Asia Pacific provided interesting insights at the launch of 2025 Barclays Private Clients Hurun India Most Valuable Family Businesses List, in conversation with Anas Rahman Junaid, Founder and Chief Researcher, Hurun India
Commenting on the launch, Nitin Singh, Head of Barclays Private Bank, Asia Pacific, said, “We are delighted to partner with Hurun India for the second edition of this list, which shines a spotlight on the scale and influence of India’s most valuable family businesses — many of whom are long-standing clients of Barclays Private Clients. This year’s findings reveal an unprecedented INR 130 lakh crore in wealth expected to transfer across generations over the next five years, and a record 71 families now operating dedicated family offices, underscoring the focus on structured wealth management. We also see a growing community of Global Indians at the helm, leading from outside the country while continuing to invest in and shape India’s economic story.”
Key Takeaways:
↑ The 2025 Barclays Private Clients Hurun India Most Valuable Family Businesses list adds 100 new families, expanding the list to include 300 families.
↑ India’s top 300 family businesses generated INR 7,100 crores every day last year.
↑ The 2025 Barclays Private Clients Hurun India Most Valuable Family Businesses list controls an astounding USD 1.6 trillion (INR 134 lakh crore) in value, surpassing the combined GDP of Turkey and Finland.
↑ Valued at INR 28.2 lakh crore, which equates to a twelfth of India’s GDP, the Ambani family tops the 2025 Barclays Private Clients Hurun India Most Valuable Family Businesses list for the second consecutive year.
↑ With a total value of INR 6.5 lakh crore, up INR 1.1 lakh crore, the Kumar Mangalam Birla family climbed one spot to secure the second position.
↑ With a valuation of INR 5.7 lakh crore, up INR 1 lakh crore, the Jindal family entered the top three, securing the third spot on the list.
↑ For the second consecutive year, the Adani family tops the List of the 20 Most Valuable First-Generation Indian Family businesses, with businesses worth INR 14 lakh crore. The Poonawalla family, which manages the Serum Institute of India, is second, with INR 2.3 lakh crore.
↑ The top three family businesses are valued at USD 471 bn (INR 40.4 lakh crore), up INR 4.6 lakh crores, equivalent to the GDP of the Philippines.
↑ With a value of INR 2.6 lakh crore, Anil Agarwal and family climbed six spots to break into the top 10 of the 2025 Barclays Private Clients Hurun India Most Valuable Family Businesses List. The threshold to enter the top 10 increased by INR 18,700 crore, reaching INR 2.2 lakh crore.
↑ The threshold to qualify for the 2025 Barclays Private Clients Hurun India Most Valuable Family Businesses List is INR 1,100 cr.
↑ The Top 50 threshold is up by 31% to INR 54,700 crore. ↑ The Top 200 threshold increased from INR 2,700 crore to INR 4,600 crore, an increase of 70%.
↑ A new record: 161 families worth USD 1 billion or more, up 37 compared to last year.
↑ Together, the top 300 families in India employ over 2 million people — more than the entire population of Bahrain!
↑ The top 300 families contributed INR 1.8 lakh crore in taxes, accounting for 15% of India’s corporate tax collections.
↑ The top three families with the highest share price growth since inheritance are led by the Anil Gupta family, achieving a staggering 1116-fold increase. The Benu Bangur family follows with a 627 times growth, and the Dharmpal Agarwal family comes next with a 452-fold rise in share price.
↑ 74% of companies featured in the 2025 Barclays Private Clients Hurun India Most Valuable Family Businesses are listed. ↑ Haldiram's family, valued at INR 85,800 crore, holds the position of India’s most valuable unlisted company for the second consecutive year.
↑ 22 companies, up by seven, in the 2025 Barclays Private Clients Hurun India Most Valuable Family Businesses List are led by women.
↑ 62 companies in the 2025 Barclays Private Clients Hurun India Most Valuable Family Businesses List are led by professional CEOs, an increase of 9 from last year.
↑ 89% of the companies in the list sell physical products; 11% sell services. ↑ 40% of the companies are consumer-facing, 49% operate in the b2b space, and 11% cater to both.
↑ The 2025 Barclays Private Clients Hurun India Most Valuable Family Businesses List comprises families across 45 cities in India, led by Mumbai (91), NCR (62), and Kolkata (25).
↑ Industrial products lead the pack with 48 companies, though their average value stands at INR 16,400 Cr. The automobile and auto components sector, with 29 companies, has the highest average value in the top three at INR 52,320 Cr. Close behind are chemicals and petrochemicals, featuring 27 companies with an average value of INR 29,933 Cr.
↑ In the 2025 Barclays Private Clients Hurun India Most Valuable Family Businesses List, the top 10 account for nearly 50% of the total value of the families in the list.
↑ The Wadia family, with a valuation of INR 1.58 lakh crore, stands out as the oldest family-operated company on the list.
↑ With a total of 8 family members, Muthoot Finance (INR 1.05 lakh crore), Haldiram Snacks (INR 85,800 Cr), and Bikanervala Foods (INR 3,900 crore) have the highest representation on their boards.
↑ At a valuation of INR 14,000 crore, 93-year-old Kanaiyalal Maneklal Sheth, emerges as the oldest active family business leader, representing Great Eastern Shipping.
“At Barclays Private Bank, we are privileged to work alongside these families as they navigate growth, complexity and intergenerational change. Our investment-led approach, backed by global connectivity and specialist expertise, helps clients preserve and grow their wealth, manage cross-border needs, and achieve ambitions that span both generations and geographies.”
“Beyond wealth creation, these families are building industries, creating employment, and contributing significantly to the nation’s tax base — with the top 300 generating INR 7,100 crore every single day last year. The addition of 100 new entrants to this year’s list is a powerful sign of India’s deepening entrepreneurial base and the role family businesses will continue to play in driving growth across sectors and regions,” Nitin Singh added.
Commenting on the launch, Anas Rahman Junaid, Founder and Chief Researcher, Hurun India said, “Indian family businesses are the heartbeat of our nation’s economy, embodying resilience, innovation, and a deep-rooted legacy of entrepreneurship. This year’s list expanded to 300 families, collectively worth USD 1.6 trillion (about INR 134 lakh crore) – more than the combined GDP of Turkey and Finland. Even the bar to enter the top 200 has surged – the cutoff valuation rose by 70% YoY. Their economic footprint is enormous: together they generated roughly INR 7,100 crore of value every single day last year, and nearly three-quarters of these businesses grew in value year-on-year, underscoring their vitality in India’s growth story.”
“Private equity is no longer knocking on the doors of India’s family businesses — it’s firmly inside the boardroom.
From billion-dollar stakes in icons like Haldiram’s to transformative healthcare investments in Meril, private equity is reshaping India’s family-run enterprises at every scale. In the past year alone, global investors such as Temasek, Bain Capital, ChrysCapital, Multiples — and sovereign wealth giants like ADIA with their USD 200 Mn investment in Meril —have partnered with promoters to unlock expansion, professionalise governance, and bridge succession transitions. It marks a new era where patient capital meets generational ambition.”
“The List highlights the sectoral heft of India’s family-run firms across manufacturing and beyond. Industrial products companies form the largest segment on the list with 48 entries, while the automobile and auto components sector boasts the highest average valuation – about INR 52,320 Cr per company. Pharmaceuticals is another stronghold, with 25 leading family businesses averaging over INR 41,000 Cr each. This diversification – from factories and pharma to autos – underlines how family businesses drive India’s industrial prowess and enhance our global competitiveness and economic resilience. Notably, the majority of these enterprises are publicly listed (222 companies vs. 78 unlisted), reflecting greater transparency and institutional governance.”
“Roughly 120 families on the Barclays Private Clients Hurun India Family Business List 2025—spanning Arvind’s denim, Bharat Forge’s truck axles, and Meril’s medical devices—face billions of dollars in export revenue at risk over the next 12 months as U.S. tariffs climb to 50%. This is a once-in-a-generation stress test of resilience and agility. Yet if history is a guide—across wars, recessions and a pandemic—India’s multi-generation family enterprises are better poised than most to absorb the shock and adapt!”
“India’s family-run firms are increasingly driving both capital deployment and social impact. Over 100 of these families also appear on the Hurun India Philanthropy List 2024, collectively donating close to INR 5,100 Cr last year – a testament to their commitment to nation-building beyond boardrooms. At the same time, they are investing heavily in the future: these families have backed more than 600 startups across sectors like fintech, clean tech, consumer brands, and more, bridging the gap between generational legacy and next-gen innovation. Such investments not only diversify their business interests but also demonstrate their belief in India’s new-age entrepreneurial ecosystem.”
“A hallmark of India’s top family businesses is successful multi-generational leadership. 76% of the most valuable family firms are now run by second-generation leaders (with the rest led by third generation or older). At the same time, we see rising professionalism – 62 of these companies are helmed by outside professional CEOs (nine more than last year). Notably, 22 family businesses on the list have women at the helm, up from 15 a year ago, reflecting a positive shift towards greater diversity in family business leadership.”
“India’s most valuable family businesses are experiencing a significant churn — a powerful signal of evolution, ambition, and renewed competitiveness. Compared to last year, there has been a 10% change in the Top 10, 32% in the Top 50, and a striking 70% shift in the Top 200 threshold. The cumulative valuation of the Top 200 has surged by 15%, while the overall list has grown by 23% year-on-year. These aren’t just numbers — they reflect a rapid pace of value creation and transformation within legacy firms. What’s more, the regional footprint is expanding: 300 families now span 45 cities, while the Top 200 hail from 32 cities (up from 30 last year), showcasing the growing decentralisation of India’s entrepreneurial wealth.”
“These family enterprises are not just creating value but also providing livelihoods and strengthening the nation’s finances. The top 300 families on our list employ around 2 million people across India – roughly half the population of Lucknow – and contributed INR 1.8 lakh crore in taxes last year, accounting for about 15% of India’s corporate tax collections. In fact, India’s top three family business dynasties alone are now worth INR 40.4 lakh crore (up INR 4.6 lakh crore from last year) – nearly equivalent to the GDP of the Philippines. Such value creation, alongside massive job generation and tax payments, is accelerating India’s journey towards a USD 5 trillion economy, bolstered by initiatives such as Make in India, rising exports, and digitalisation-led growth.”
“From daily essentials to cultural celebrations, family-run businesses are woven into the fabric of Indian life. List features businesses from 45 cities across the country – with Mumbai alone home to 91 of them – proving that their impact reaches far beyond traditional corporate hubs. Many of the products we rely on every day come from these enterprises – whether it’s the “bhujia” served at weddings from Haldiram’s, life-saving medicines from Cipla, or the shop from The Phoenix Mills. It’s no surprise that about 40% of the companies on our list are consumer-facing brands, underlining their ubiquitous presence in households across India. This blend of heritage and forward-thinking by family brands has shaped not only our economy but also our daily habits and cultural moments.”, concluded Anas Rahman Junaid. concluded Anas Rahman Junaid.
