India has third highest number of family-owned businesses in the world
India ranks third globally in terms of the number of family-owned businesses with 111 companies of $839 billion total market capitalisation, followed closely after China with 159 firms and the United States with 121 firms, says a report. According to the 'Credit Suisse Family 1000 in 2018' report, published by the Credit Suisse Research Institute (CSRI), in terms of the number of family-owned businesses, within the non-Japan Asian region, China, India and Hong Kong dominate the list. These three jurisdictions together comprise around 65 per cent of the non-Japan Asian section of the CSRI's database, and has a combined market capitalisation of $2.85 trillion (or 71 per cent) of the market share. Korea came in fourth place, with 43 companies ($ 434.1 billion market capitalisation), followed by Indonesia, Malaysia, the Philippines and Thailand, each with 26 companies. Read Complete Article