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.

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. 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.” “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,” he 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 137 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 7,820 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 50,780 crore per company. Pharmaceuticals is another stronghold, with 25 leading family businesses averaging over INR 41,000 crore 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.”

Read the full report here: 2025 Barclays Private Clients Hurun India Most Valuable Family Businesses List