5 Thriving Family-Owned Businesses in India

Family businesses are an element of our heritage, a part of our Indian culture since time immemorial. These businesses are the backbone of our country, they contribute to the generation of revenue, employment and so much more. Growing stronger every day, these companies are carrying forward their legacy setting an example for the students of the best management institutes in India and everyone who aspires to start their entrepreneurship journey.

Just as surprising as it might sound, many of these reputed family-owned businesses started even before the independence of our country. Here’s a list of a few thriving family-owned businesses in India that continue to set milestones:

1. The TATA Group:

Founded in 1868 by Jamsetji Tata and headquartered in Mumbai, Maharashtra the TATA group is a multinational conglomerate holding company. It has established its prominence and gained recognition in the global market by taking over various foreign firms. Each TATA firm operates independently with a separate BOD and shareholders. TATA consultancy services, TATA motors, TATA steel, etc are some of the subsidiaries of TATA. The company is also actively investing in new generation companies like Paytm, Ola, Xiaomi, etc.

1. The TVS Group:

With its headquarters in Madhurai, Tamil Nadu, the TVS group was founded in 1911 by Thiruvengudi Sundram Iyengar. The conglomerate has entered fields like automotive, electronics and textile. It has its base in various cities across the globe. Chennai, Mumbai, Coimbatore, Spain, UK, and Iran are some of the cities TVS has its operating offices in. Standing strong and bold in its niche areas, the company is still run by the family with Venu Srinivasan as its chairman.

1. The Aditya Birla Group

Inspiration for the candidates for entrepreneurship courses in India, the Aditya Birla group set out its foot in the year 1857. It was founded by Set Shiv Narayan Birla with its headquarters located in Mumbai, Maharashtra. It was under the guidance of Mr. Aditya Birla that the company gained the reputation that it has today and it is by his name that the company is now recognised. The company ventured into some of the most rapidly growing fields of agribusiness, financial services, banking, mining, retail, telecommunication, wind power, and e-commerce amongst the others. Kumar Mangalam Birla is the current chairman of the firm.

1. The Kirloskar Group

This India conglomerate was founded in 1888 by Laxmanrao Kirloskar. The company has its headquarters located in Pune, Maharashtra. The company earned laurels under the leadership of Shantanurao Laxmanrao Kirloskar. The company is one of the biggest producers of pumps and valves even in the international markets and has other ventures in the production of oil engines, motors, etc.

1. The Murugappa Group

Founded in 1900 by AM Murugappa Chettiar, the company has its headquarters in Chennai. Some of its prominent subsidiaries include Carborundum Universal, Cholamandalam Financial Holdings, Cholamandalam MS General Insurance Company, Coromandel International and many more. The company is now held by the Murgappan family, under its current chairman MM Murugappan.

These businesses continue to inspire the youth and to channel this aspiration, various colleges offer entrepreneurship courses in India and even MBA in family business management that train candidates to be capable leaders who could revolutionise the business world.

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