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India

September 5, 2011

Family-owned Indian motorcycle manufacturer TVS Motor has appointed another member of the fourth generation to the group’s holding company, further strengthening the family’s presence in the business.

Family-owned Indian motorcycle manufacturer TVS Motor has appointed another member of the fourth generation to the group’s holding company, further strengthening the family’s presence in the business.

Twenty-two-year-old Sudarshan Venu has become an additional director of Sundaram-Clayton Limited, the holding company of TVS Motor, a spokesman confirmed.

September 2, 2011

The global economic crisis has left Asian consumers increasingly mistrustful of foreign banks, with many preferring to use local institutions, according to new research from McKinsey. 

The global economic crisis has left Asian consumers increasingly mistrustful of foreign banks, with many preferring to use local institutions, according to new research from McKinsey.

The study, published in the latest McKinsey Quarterly, comes at the same time as many multinational banks are focusing heavily on growing their presence in Asian markets, amid a rise in the number of wealthy individuals in the area.

September 1, 2011

The number of high net worth individuals in Asia looks set to soar over the next four years, thanks to currency appreciation and massive economic growth in the continent, according to a new report. 

The number of high net worth individuals in Asia looks set to soar over the next four years, thanks to currency appreciation and massive economic growth in the continent, according to a new report.

Swiss private banking group Julius Baer said wealth in the region is expected to triple in the next few years to $15.81 trillion from $5.60 trillion, while the number of high net worth individuals will jump to 2.82 million from 1.16 million.

August 19, 2011

Family businesses are likely to be one of the key forces driving an increase in wealth in India over the next decade, according to a financial expert. 

Family businesses are likely to be one of the key forces driving an increase in wealth in India over the next decade, according to a financial expert.

Val Srinivas, head of research for the Deloitte Center for Financial Service, said demographic trends, as well as general economic growth, are providing greater opportunities for businesses and fueling the rise in millionaires in India and China.

June 23, 2011

India’s family-controlled Tata Group has become the country’s wealthiest company. The group, headed by Ratan Tata, said that its total market value is $98.7 billion, overtaking the combined value of fellow family-controlled Reliance groups. 

India’s family-controlled Tata Group has become the country’s wealthiest company. The group, headed by Ratan Tata, said that its total market value is $98.7 billion, overtaking the combined value of fellow family-controlled Reliance groups, worth a reported $81.6 billion.

The buoyant growth for the Tata Group comes following a rise in share price of its listed companies, while a string of controversies caused a slump in value of Reliance, controlled by the feuding Ambani brothers.

March 28, 2011

A new research report by India-based Ask Investment Managers shows family-owned businesses accounted for 61% of the market capitalisation of India’s top 500 companies. 

A new research report by India-based Ask Investment Managers shows family-owned businesses accounted for 61% of the market capitalisation of India’s top 500 companies.

The study, based on data from financial data provider Capita Line, also shows family-owned businesses grew faster over an eight year period when compared with multi-national corporations and public sector companies. Operating profits at family businesses grew just under 30% between 2001-2009, while those at multi-national corporations grew by just over 15%. 

March 10, 2011

Sports carmaker Ferrari, 90% controlled by the Agnelli family's Fiat, has announced it will begin selling its cars in India following an agreement with India's luxury retail company, the Shreyans Group.

Sports carmaker Ferrari, 90% controlled by the Agnelli family's Fiat, has announced it will begin selling its cars in India following an agreement with India's luxury retail company, the Shreyans Group.

February 21, 2011

Reliance Communications, India’s second-largest telecommunications company, saw its shares fall by almost 50% over the last year, and further dropped by nearly 7% last week amid corruption accusations.

Shares of the family-controlled telecommunications group, headed by second-generation Anil Ambani, had been one of the worst performers in India’s stock exchange last year, and had slipped from Rs 800 (€13) to Rs 93 (€1.5).

This fall in value of the flagship company adds more worry for Ambani, who is in the middle of a federal investigation by India’s anti-corruption body. He has been accused of selling mobile phone licenses to companies at a low price, which allegedly cost the Indian government around $39 billion.

February 10, 2011

The year has started on a positive note for family-controlled carmakers, with BMW, Audi and Peugeot Citroen reporting a rise in sales. Helped by surging demand not just in emerging markets, but also the developed world, it has raised hopes that the worst of recession may be running its course for the automobile sector.

The year has started on a positive note for family-controlled carmakers, with BMW, Audi and Peugeot Citroen reporting a rise in sales. Helped by surging demand not just in emerging markets, but also the developed world, it has raised hopes that the worst of recession may be running its course for the automobile sector.

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