The list, released on Thursday, also highlighted the Ambani family as the most valuable, with a staggering valuation of Rs 25.75 lakh crore, nearly one-tenth of India’s GDP.
The Barclays Hurun India Rich List 2024 has designated Haldiram Snacks as the most valuable unlisted firm in India, with a valuation of Rs 63,000 crore. Haldiram Snacks is ranked sixth in the Food and Beverages sector, with a total value of Rs 1,29,300 crore. The company operates through 11 entities and is led by eight family members.
Anas Rahman Junaid, Founder and Chief Researcher at Hurun India, emphasised the significance of Indian family businesses. “Indian family businesses are the heartbeat of the nation’s economy, embodying resilience, innovation, and a deep-rooted legacy of entrepreneurial spirit,” Junaid said. He noted that these businesses, including Haldiram’s, Cipla, and Britannia, play a crucial role in everyday life, from snacks and medicines to biscuits.
The list, released on Thursday, also highlighted the Ambani family as the most valuable, with a valuation of Rs 25.75 trillion, which is almost equivalent to one-tenth of India’s Gross Domestic Product (GDP), stated the 2024 Barclays-Hurun India report on the most valuable family businesses in the country.
One of India's most well-known snack brands, Haldiram's, started as a small confectionery in Bikaner, Rajasthan. Ganga Bishan Agarwal also referred to as Haldiram Ji, established the company in 1937. He began with a small store selling bhujia and other traditional Indian snacks and sweets.
The food chain is the combined packaged snacks and foods business of the Delhi and Nagpur factions of the Agarwal family. While the Nagpur faction of the family led Haldiram Foods International, the Delhi faction oversaw the operations of Haldiram Snacks.
The two branches of the family-run business are in the process of merger into a new entity. The new company will be named as Haldiram Snack Foods Pvt., according to reports.
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