A number of well-known personalities have made their mark in the Indian business world through their entrepreneurial ventures and leadership skills, earning billions over time. Businessmen must pass over the heavy responsibility of running their businesses to the next generation, as is the case in most cases, to their heirs and heiresses, just like in life in general.
Family-owned businesses have been important to India Inc.’s growth, diversification, and development. Names like Tata, Birla, and Ambani are now linked with diversified conglomerates that generate revenue worth millions of dollars each year.
With the years going by, these businesses are now being handled by the future of entrepreneurs. From Birla to Ambani, more and more Indian business families are putting their trust in their scions.
An overview of Indian businesses that are involving the next generation in administration.
The Ambani family
One of the richest Indian families is the Ambani family. Its business spans from petrochemicals to telecom. One of the richest billionaires in the world is Mukesh Ambani, the CEO of Reliance Group. With a net worth of $79.3 billion, he is currently the richest Asian, according to the Bloomberg Billionaires Index.
The “next-gen leaders are confidently taking over the reins across businesses,” Ambani announced in 2022. The chairman of wireless operator Reliance Jio Infocomm Ltd. is now his son Akash Ambani. Anant Ambani, his younger son, is in charge of the renewable energy division of the $220 billion conglomerate.
Isha Ambani, Akash’s twin, is in control of the group’s retail business, Reliance Retail.
The Adani Family
The Adani Group has grown in the past ten years into one of India’s biggest businesses in the world. The group, which consists of seven publicly traded companies, is led by Gautam Adani, the second-richest individual in India. Adani Enterprises, Adani Power, and Adani Green Energy are some of these.
In 2019, Jeet Adani, Gautam’s son, joined the conglomerate and is now the vice president (VP) of group finance. Along with running the Adani Digital Labs, he also oversees the Adani Airports business.
Adani’s eldest son, Karan Adani, took charge of Adani Ports & SEZ Limited (APSEZ) in 2016 and has maintained in that position ever since.
The Nadar Family
The founder of HCL Technologies, Shiv Nadar is known as an IT pioneer in India. He currently has a $27 billion net worth and is ranked 49 on the Bloomberg Billionaires Index. He is considered as a key player in India’s rise as a hub of IT.
Shiv Nadar’s daughter Roshni Nadar Malhotra succeeded him as chairperson of HCL in July 2020. She is also a trustee of Shiv Nadar Foundation for education.
The Poonawalla Family
The founder of the Serum Institute of India, the largest volume manufacturer of vaccines in the world, is well-known Indian businessman Cyrus Poonawalla. He is presently one of the five richest Indians. In 1966, he founded the company.
Cyrus Poonawalla’s son Adar appointed as Serum Institute of India’s CEO. Under his leadership, the company expanded the range of products it provided, explored new markets, and produced vaccinations that were crucial in the fight against the COVID-19 pandemic.
The estimated current net worth of Cyrus Poonawalla is $22.4 billion.
The Mittal Family
The biggest steelmaker in the world, ArcelorMittal, was founded by Lakshmi Mittal, who was also appointed as its CEO. His family is currently in control of a several companies, like B4U, Ispat International, and Arcelor. They rank among the richest families in Asia as well.
In February 2021, Aditya Mittal, Lakshmi’s son, was appointed CEO of ArcelorMittal. He was the company’s president and CFO earlier. Vanisha Mittal, his sister, serves as an ArcelorMittal non-independent director.
The Birla Family
Birla Kumar Mangalam, Like mother, like son: Kumar Mangalam Birla was awarded with Padma.
Another well-known industrialist from India, Kumar Mangalam Birla is the chairman of the Aditya Birla Group, one of the country ‘s major conglomerates with interests in a number of sectors, including cement, metals, textiles, and financial services.
The Aditya Birla Group is regarded as one of India’s first families-owned businesses. It was founded in 1857 as a cotton trading company and is now valued at $60 billion. Ananya Birla, Aryaman Birla, and Advaitesha Birla, three of his children, are considered potential business heirs.
The founder and chairperson of Svatantra Microfinance, a non-banking financial company that provides microfinance services to women in rural India, is Ananya Birla, the eldest child.
Both Aryaman and Advaitesha are still in school. Aryaman is regarded as a potential heir to the business empire, although it’s unclear whether he’d like to join the family business in the future or not. The current estimated net worth of Kumar Mangalam Birla’s net worth is $14 billion.
The Hinduja Family
The Hinduja Group is a large multinational conglomerate with interests in a wide range of businesses, including banking, healthcare, energy, and the automotive sector. Parmanand Deepchand Hinduja established the Group in Mumbai, India, in 1914.
Srichand Hinduja, Gopichand Hinduja, Prakash Hinduja, and Ashok Hinduja are the four brothers who currently lead the Hinduja Group. The “Hinduja brothers” collectively are the business heirs to the Hinduja family.
The chairman of the Hinduja Group and the eldest of the brothers is Srichand Hinduja. Gopichand serves as the group’s co-chairman, with Prakash and Ashok appointed as vice-chairman.
According to Forbes, the Hinduja brothers currently have a collective net worth of $15.2 billion.
The Godrej Family
The Godrej Group, worth $5.2 billion, is under family control. Adi Godrej has been the group’s leader since 2000. Currently, the business has now split into the Jamshyd Godrej group and the Adi Godrej faction.
Pirojsha Godrej, the executive chairman of Godrej Properties, is Adi’s son. Nisaba Godrej, the executive chairman of Godrej Consumer Products, is Adi’s daughter. Their eldest sister Tanya Dubash serves as the executive director for the Godrej Group.