The family businesses in India are seeing sharp uptick in the value creation as the combined value of the top 300 family businesses rose to USD 1.46 trillion, or Rs 138 lakh crore.
Businesses are undergoing a sharp shift in value creation. Heavy industry, engineering and manufacturing companies accounting for the biggest gains while technology, real estate and consumer businesses saw valuations contract over the past three years.
According to the 2026 Barclays Private Clients Hurun India Most Valuable Family Businesses List, the Jindal family, which controls JSW Steel, created the most value in absolute terms, adding Rs 3.3 lakh crore over three years. This is a 70% increase to reach Rs 8.02 lakh crore.
Vedanta’s Anil Agarwal family added Rs 3.03 lakh crore marking a 212% increase. It has taken its total value to Rs 4.45 lakh crore. The family rose three places to rank sixth overall, helped by Vedanta’s demerger into five separately listed entities.
Kumar Mangalam Birla family added Rs 2.75 lakh crore registering a 51% increase. This has taken the value of the Aditya Birla Group businesses to Rs 8.14 lakh crore.
The Mahindra family added Rs 1.69 lakh crore, a 49% increase, taking its total value to Rs 5.15 lakh crore.
HCL Technologies’ Nadar family recorded the biggest decline on the list losing Rs 1.39 lakh crore, or 32%, over three years to Rs 2.95 lakh crore.
The Rajiv Singh family, which controls DLF, recorded the second-largest decline, losing Rs 51,000 crore, or 25%, to Rs 1.53 lakh crore.
Owner of Asian Paints, the Dani, Choksi and Vakil families lost Rs 23,000 crore, or 8.5%, taking their value to Rs 2.48 lakh crore. The Godrej Industries family lost Rs 19,300 crore, or 11%.
The Hurun list also indicated the growing scale of first-generation businesses. As per the Hurun list, the Adani family is valued at Rs 19.6 lakh crore, the Sunil Bharti Mittal family at Rs 12.1 lakh crore and the Dilip Shanghvi family at Rs 4.55 lakh crore.