India Inc members who made it to the list for the first time
1. The Amalgamations family
$2 billion
Rich List Rank: 47
The Chennai-based group, started by S Anantharamakrishnan in 1938, has long considered its privately-held tractor company TAFE (Tractors & Farm Equipment), run by Mallika Srinivasan, as its biggest asset. Its entry into the Forbes India Rich List, at No 47, can be traced to a solid run for TAFE, now India’s second-largest tractor company. Rising demand for mechanisation as a result of the falling availability of labour has given TAFE a good year (Tractor sales increased by 22 percent in 2013-14). Also, backed by its US partner, AGCO Corp (which has a 24 percent stake), TAFE has been able to grow exports faster than its rivals. The company, now India’s largest small tractor exporter, has opened a new manufacturing facility in China which will serve as its global base.
5. TS Kalyanaraman, Kalyan Jewellers
(This story appears in the 16 October, 2014 issue of Forbes India. To visit our Archives, click here.)