Can you believe that there are dozens of family-owned businesses that are contributing to the overall growth of our nation’s economy on a global level? Yeah, we are talking about the big names, like Reliance Industries, Tata Group, and many others. And at this point, you may be wondering which are some other names in this list, right? Well, that is precisely why we are here today because here we will be taking a good look at the top 10 leading family-owned businesses in India. It is true that the stories of these businesses are super interesting ones, and you can actually learn a lot by diving deep into what went into making each of these businesses or conglomerates this big. So yeah, let’s get straight to it without any delay, shall we?
List of Family Owned Businesses in India
1. Reliance Industries
Started in 1966 by none other than Dhirubhai Ambani as just a small textile manufacturer, Reliance Industries is now like one of the biggest businesses in the country. It’s like they’re tied to the growth of modern India itself. Under Dhirubhai and later his sons, Mukesh and Anil Ambani, Reliance turned into this huge conglomerate. They’re into everything like petrochemicals, refining, oil, telecommunications, you name it. You see, Dhirubhai wanted a world-class company right here in India, and boy, did his sons take that seriously! Especially Mukesh Ambani. Remember Jio’s launch in 2016? Well, that was the big start of affordable data plans, 4G everywhere, and that’s how Reliance just kept growing. Now, they’re one of the biggest and most profitable companies in India. Just this November 2023, they raised a whopping 200 billion rupees (about $2.40 billion) through bonds.
2. Tata Group
Tata Group is more like the shining star of Indian enterprise, with a history going back to 1868. Jamsetji Tata, the founder, really set things in motion. They’ve been key in India’s industrialization, diving into steel, hydro-power, hospitality, aviation, a real mix! It all started with a textile mill, kind of sparking India’s industrial revolution. The generations that followed just kept expanding into new areas. Tata Steel, for instance, was Asia’s first integrated steel company, back in 1907. Then there was the Corus acquisition in 2007, showing off India’s economic growth. And don’t forget Tata Motors snapping up Jaguar and Land Rover in 2008. But yeah, Tata Consultancy Services, part of the group, has had some legal hiccups in the US. They’ve got to pay $210 million for misusing trade secrets from DXC Technology. That’s after another case where they had to pay $280 million to software maker Epic Systems.
3. Cipla
Founded by Dr. Khwaja Abdul Hamied in 1935, it started in a rented bungalow in Bombay. Their goal? Make India self-reliant in healthcare. And they’ve done just that, becoming a global pharma leader. They’ve got everything like prescription drugs, bulk drugs, and animal products. And during World War II, when drug supplies were scarce, Cipla stepped up, producing essential medicines. Post-war, they were the first in India to make ampicillin. And yeah, they’re big on public health, like their work in the fight against AIDS. They were pioneers in making affordable antiretroviral drugs in India. But, recently, the U.S. FDA issued a warning letter to Cipla. It’s about thousands of complaints, which might delay their generic version of Advair in the U.S. But Cipla? They’re still focused on affordable healthcare for all. Now cipla is one of the Biggest Pharmaceutical Companies In India.
4. Wipro
Wipro, a big name in IT, started way back in 1945. But get this, it wasn’t about tech at first. Founded by Mohamed Premji as Western India Palm Refined Oils Limited, it was all about oils in Amalner, Maharashtra. Things really changed when Azim Premji, Mohamed’s son, stepped in. It was actually during the 1980s when he decided to make a bold entry into the IT sector of the country. And yeah, that big and bold move right there paid off big time. Of course, due to those big moves back in the early days, today we now know Wipro as this leading IT sector company in India. But recently, they teamed up with Nvidia, focusing on AI in healthcare. This move is huge for Wipro, showing they’re all in on cutting-edge tech. And it’s paying off, just look at their stocks. Up in November 2023, all thanks to this Nvidia deal.
5. HCL Technologies
Here’s another IT giant, HCL Technologies. Established way back in the 70s, it was part of HCL (Hindustan Computers Limited) at first. But in 1991, it branched out, focusing solely on software services. Under Shiv Nadar’s leadership, HCL grew like crazy, diving into sectors like aerospace and healthcare. From the very get to, they were all about innovation, a customer-first approach, and smart acquisitions. Fast forward to 2023, their stock’s soaring, up 28%! And they’re not just about profits. HCL’s big on talent too, planning to hire 5,000 fresh grads. Despite market ups and downs, HCL stands strong, always eyeing the next big tech trend.
6. Dr. Reddy’s Laboratories
Dr. Reddy’s Laboratories, which is a name that’s big in pharmaceuticals, was started in 1984 by Dr. Kallam Anji Reddy. It began small in Hyderabad, with a noble aim to make medicines affordable. Talking about the current situation of Dr. Reddy’s Laboratories in the country, well, know that they are kinda like global players in the pharma industry, dealing in generics, ingredients, and biosimilars. And they’re not just about making money though, they’re making medicines more accessible, especially in emerging markets. And yeah, for the quarter ending in September 2023, their sales hit Rs 6,902.60 crore, up by 9.01% from last year. That’s huge! They’re big in North America too, with half of their generic sales there.
7. TVS Group
The TVS Group, can you believe it, was started way back in 1911? Now, it’s a global biggie, getting into everything from cars to finance and electronics. And yeah, their TVS Motor Company? That is one of the biggest names in the automobile scene of the country right now. Started in 1978, they’re not just another player in the motorcycle scene, they’re actually India’s third richest in this game. They’ve even taken their two-wheelers to over 60 countries, making them the country’s second top bike exporter. And yeah, it all began with Sundaram Clayton in 1962, diving into car parts. Then in 1980, the TVS 50, India’s first two-seater moped, made its grand entry.
8. Aditya Birla Group
This group has been around since 1857, thanks to G.D. Birla. This group’s gone global, operating in 36 countries across six continents. They’re into everything like metals, cement, textiles, you name it. And they’re not just big in India though, they’re a heavyweight on the world stage. As of 2023, we’re talking a whopping $65 billion, as per Forbes reports. Leading the charge is Kumar Mangalam Birla, with his family, including his mom, Rajashree Birla, who’s big on the group’s charity work. They’re serious about helping out, with the Aditya Birla Centre for Community Initiatives and Rural Development, led by Rajashree Birla, driving their CSR stuff and making a real difference. And in 2023, they announced a massive Rs 25,000 crore investment in Uttar Pradesh at the Global Investors Summit.
9. Kirloskar Group
For the Kirloskar Group, it all started way back in the late 19th century, in 1888 to be exact. That’s when Laxmanrao Kirloskar, the founder, kicked off with a tiny bicycle repair shop in Belgaum, now part of Karnataka. It’s from these humble beginnings that Kirloskar turns into a giant conglomerate. And yeah, as of now they are into a lot of different stuff aka the industries in the country, like engineering, manufacturing, construction, you name it. And it’s not just about being big though, they’ve branched out into power, oil and gas, water management, and industrial machinery too. And yeah, it is still a family-owned business, with the fourth generation of Kirloskars running the business.
10. V-Guard Industries
Back in 1977, who would have thought about V-Guard’s name? Kochouseph Chittilappilly started V-Guard Industries, and now, it’s a giant in India’s electrical appliance market. Their specialty? It’s a long list but let’s keep it simple: voltage stabilizers, inverters, wiring cables, and even electric and solar water heaters. V-Guard isn’t just another brand though, they’re about top quality and innovative ideas. A favorite in many Indian homes, they know exactly what the market needs. It started small and is now a big name in electrical appliances in India.
Conclusion
There you have it. Now, remember, these 10 aren’t the only family-owned businesses that are fueling India’s growth. Nah, there are dozens of these family-owned businesses, and to get to know more about them, you must dive a little deeper on your own.
Anantha Nageswaran is the chief editor and writer at TheBusinessBlaze.com. He specialises in business, finance, insurance, loan investment topics. With a strong background in business-finance and a passion for demystifying complex concepts, Anantha brings a unique perspective to his writing.
