‘India has 3rd highest number of family-owned businesses’

India has 108 publicly-listed family-owned businesses, third highest in the world, while China tops the tally with 167 such companies followed by the US which has 121, says a Credit Suisse report. As per the Credit Suisse Research Institute's (CSRI) latest "CS Family 1000" report, with an average market capitalisation of $6.5 billion, India ranks 5th in Asia Pacific excluding CLOSE-KNIT GROUP • Indian companies surveyed are more mature, with 60 per cent of family businesses in their 3rd generation compared to 30 per cent of Chinese companies

Japan, and 22nd globally, in terms of average m-cap. Besides China, the US and India, the top 10 countries in terms of number of family-owned companies include France (4th place), Hong Kong (5th), Korea

(6th), Malaysia (7th), Thailand (8th), Indonesia (9th), Mexico (10th).

However, in terms of average size, the ranking changes much more in favour of developed markets, the report said. Average market capitalisation of family-owned companies is greatest in Spain ($30 billion), the Netherlands ($30 billion), Japan ($24 billion) and Switzerland ($22 billion), the report that covered close to 1,000 family-owned, publicly-listed companies by region, sector and size said. It further said Indian companies surveyed are more mature, with 60 per cent of family businesses in their third generation compared to 30 per cent of Chinese companies.

The financial performance of family-owned companies is also superior to that of non- family-owned peers. Furthermore, family businesses appear to focus more on long-term growth.