According to the Hurun India’s Most Valuable Family Businesses List, the Nuwal family has secured a place among those who have built large business empires through their own efforts and whose next generation is actively involved in running them. The list includes companies in sectors like tobacco, energy, jewellery, real estate, and defence.
From the defence sector, industry veteran Satyanarayan Nuwal has been included. The family’s business is valued at ₹1.6 lakh crore. At the top of the list is the Adani family, led by Gautam Adani, with a business value of ₹14 lakh crore. This is the first time the Nuwal family has made it to this prestigious list with such a large valuation.
The Ambani family is not included because Mukesh Ambani’s business is still considered first-generation. The list also features the Saroj Poddar family (SRF Ltd.) and the Saria family (Serum Institute of India). At No. 3 is the Murugappa family from Tamil Nadu, whose business is valued at ₹2.3 lakh crore.
Satyanarayan Nuwal’s Solar Industries India is valued at ₹1.6 lakh crore. The Aditya Gandhi family (Gandhi Special Tubes) has a value of ₹1 lakh crore, while the Jhamandas family’s business is valued at ₹98,300 crore. The Nuwal family has completely transformed their enterprise into a multinational venture, manufacturing explosives and defence products, with the next generation also playing an active role in its growth.
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