Indian Business Families That Are Shifting Control To Their Next Generation

Family-owned businesses have played an important role in the progress, diversification, and development of India Inc. Surnames like Tata, Birla, and Ambani are now synonymous with diversified conglomerates churning millions of dollars worth of wealth every year.

Now with the wheel of time, the administration of these businesses is also shifting to the next generation of entrepreneurs. From Ambani to Birla, more and more business families in India are showing trust in their scions.

A look at Indian businesses that are involving their next generation in the administration.

Ambani family

The Ambani family is considered to be one of the richest Indian families. The scope of its business spans from telecom to petrochemicals. Mukesh Ambani, the head of Reliance Group, is also among the richest in the world. Currently, he is the richest Asian with a net worth of $79.3 billion, according to Bloomberg Billionaires Index.

In 2022, Ambani announced that the "next-gen leaders are confidently taking over the reins across businesses. His son Akash Ambani has taken over as the chairman of wireless operator Reliance Jio Infocomm Ltd. His other son, Anant Ambani, leads the $220 billion conglomerate's renewable energy business.

Akash's twin, Isha Ambani, leads the group's retail business, Reliance Retail.

Adani family

Adani Group has also grown to be one of the biggest businesses in India in the past decade. Led by the second richest man in India, Gautam Adani, the group has seven companies listed on the bourses. These include Adani Enterprises, Adani Power, and Adani Green Energy.

Gautam's son Jeet Adani joined the conglomerate in 2019 and is currently the vice-president (VP) of group finance. He also heads the Adani Airports business as well as the Adani Digital Labs.

Karan Adani, Adani's elder son, took over as the CEO of Adani Ports & SEZ Limited (APSEZ) in 2016 and has been heading it since.

Nadar family

Shiv Nadar is known as an IT pioneer in India for founding HCL Technologies. Currently, he ranks 49 on the Bloomberg Billionaires Index with a net worth of $27 billion. He is considered to be a central player in India's rise as an IT hub.

In July 2020, Roshni Nadar Malhotra took over the role of HCL's chairperson from her father Shiv Nadar. She is also the trustee of the Shiv Nadar Foundation which focuses on education.

Birla family

The Aditya Birla Group is considered to be one of the oldest family-owned businesses in India. It was started in 1857 as a cotton-trading company and currently has a valuation of $60 billion. It is owned by Kumar Mangalam Birla. He has a net worth of $10.6 billion.

Recently, Kumar Mangalam's daughter Ananya Birla and son Aryaman Birla were appointed as the directors of Aditya Birla Fashion and Retail, and Grasim Industries.

Godrej family

The family controls the $5.2 billion Godrej Group. Since 2000, the group has been headed by Adi Godrej. The business has now been split into the Adi Godrej faction and the Jamshyd Godrej group.

Adi's son Pirojsha Godrej is the executive chairman of Godrej Properties. Adi's daughter Nisaba Godrej is the executive chairman of Godrej Consumer Products. Tanya Dubash, their eldest sister, is the executive director at the Godrej and Boyce.

Mittal family

Lakshmi Mittal is the founder and former CEO of ArcelorMittal, the world's biggest steelmaker. Today, his family has control of several companies like B4U, Ispat International and Arcelor. They are also among the richest families in Asia.

Lakshmi's son, Aditya Mittal became the CEO of ArcelorMittal in February 2021. Earlier, he was the CFO and president of the company. His sister, Vanisha Mittal is a non-independent director of ArcelorMittal.

Poonawalla family

Cyrus Poonawalla is the founder of the world's largest vaccine maker, the Serum Institute of India (SII). Today, he is among the top 5 richest Indians. He founded the company in 1966. SII also played a key role in India's fight against Covid-19 by producing the Covishield vaccine.

His son, Adar Poonawalla, was appointed as the company's CEO in 2011 and has been at its helm ever since.