India tops Asian family business percentage share

India has the highest percentage share of family businesses in Asia, accounting for 67 percent of total listed companies with market capitalization of more than 50 million U.S. dollars, local daily The Times of India reported on Sunday. The newspaper quoted Credit Suisse as saying in a research report on Thursday that 663 out of 983 listed Indian firms were family businesses and they account for half of all corporate hirings. Family businesses in India account for 46.8 percent of the total market capitalization. Indian energy major Reliance Industries, top IT exporter Tata Consultancy Services, mobile operator Bharti Airtel and No. 3 software exporter Wipro are among the top 20 firms in the Credit Suisse "Asian Family Business Basket," according to the report.