India has been literally referred to as the land of the family-owned businesses by Credit Suisse Research Institute.
According to the list, India ranks third in terms of the number of family-owned businesses.
It concludes that India's 111 family-owned companies owned market-capitalisation of $839 billion.
Some of the large family-owned corporate in India include marquee names such as Ambanis, Tatas, Godrej, Mahindra, Birlas, Munjals, Wadias, Thapars, Mittals, Shapoorji Paollonji, Jindals, Adanis, Vedanta, Bajaj, Ruias, Ranbaxy, etc.
In terms of family-owned businesses, China had 159 companies while the United States had 121 such businesses.
China, India and Hong Kong together comprised of approximately 65% of non-Japan Asian section of CSRI's database, and a combined market capitalisation of $2.85 trillion (or 71% ) of the market share.
"This year we find family-owned businesses are continuing to outperform their peers in every region, every sector, whatever their size. We believe this is down to the longer-term outlook of family-owned businesses relying less on external funding and investing more in research and development," said Eugne Klerk, Head Analyst of Thematic Investments at Credit Suisse and the report's lead author.
Indian family-owned companies generated a 13.9% annual average share price return since 2006, compared to 6% recorded by their non-family-owned peers, the report added.
Further, out of the top 50 most profitable companies globally, 24 were from Asia, with a total market capitalisation of $748 billion. The list included 12 Indian family-owned companies with a total market capitalisation of $192.2 billion.
Moreover, in Non-Japan Asia, more than 50 per cent of the top 30 best-performing companies are from India, followed by one-third from China. Malaysia occupies third place with three companies, while Korea and Indonesia each have one, the report added.