India's three richest families' combined wealth equals Singapore's GDP
Mumbai: The combined business interests of India's three wealthiest families have reached a staggering $460 billion, matching Singapore's GDP, according to the latest Barclays Private Clients Hurun India report.
Leading the list is the Ambani family, whose assets are valued at Rs 25.8 lakh crore ($309 billion). They are followed by the Bajaj family, headed by Niraj Bajaj, with Rs 7.1 lakh crore, and the Birla family, led by Kumar Mangalam Birla, with Rs 5.4 lakh crore.
Notably, this list excludes first-generation entrepreneurs like the Adani family, whose business interests are valued at Rs 15.4 lakh crore. The report highlights significant growth in share prices and the dominance of consumer-facing companies.
In total, the 124 families featured in the 2024 list control assets worth $1.3 trillion, surpassing the combined GDP of Switzerland and the UAE. To qualify, a family business must have a minimum value of Rs 2,700 crore. The report also reveals that 75% of the companies on the list are publicly traded, with Haldiram Snacks emerging as the most valuable unlisted company in India at Rs 63,000 crore.
Furthermore, 15 companies are led by women, and 53 are managed by professional CEOs, showcasing a diverse range of leadership. Among long-standing family businesses, PN Gadgil & Sons, led by the Gadgil family, and the Wadia Group, headed by Nusli Wadia, stand out for their enduring legacy.
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Remarks against St Francis Xavier: Right-wing speaker Gautam Khattar gets bail
Panaji (PTI): A court in Goa on Saturday granted bail to right-wing speaker Gautam Khattar, who was arrested after he allegedly made derogatory comments against St Francis Xavier.
Judicial Magistrate First Class, Vasco, granted regular bail to Khattar, currently admitted to Goa Medical College and Hospital at Bambolim for treatment of chest pain after he was shifted from the District Hospital in Mapusa two days back.
A row erupted after a video of remarks by Khattar, the founder of Sanatan Mahasangh, at an event on April 18 in the presence of Swami Brahmeshanand, State Transport Minister Mauvin Godinho and BJP MLAs Sankulp Amonkar and Daji (Krishna) Salkar, went viral.
St Francis Xavier is revered as the patron saint of Goa.
The controversial remarks led to the Vasco Police registering an FIR against Khattar on charges of hurting religious sentiments and creating enmity between groups.
He was detained in Kullu, Himachal Pradesh, by local police. His custody was later handed over to the Goa Crime Branch, according to officials.
