Business of Family: The might of family-owned businesses in India

From big corporations to kiranawallas, family-run businesses are everywhere in India. The Tatas, Birlas, and Ambanis are some of the most powerful and recognized business families, but there are several more.

India has the third highest number of family-owned businesses in the world. China tops the chart with 167 family-owned businesses, while the US has a 121 such businesses.

Several things we use in our daily lives are manufactured or supplied by family-run companies.

According to Inc.com, “A family-owned business may be defined as any business in which two or more family members are involved and the majority of ownership or control lies within a family.”

In this series of podcasts, Moneycontrol will look at each of the major family businesses in India. Listen to know more on what exactly constitutes a family-owned business.