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From airports to cricket broadcasts, India’s family conglomerates keep turning up everywhere. According to the 2024 Barclays-Hurun report, one family’s wealth alone equals nearly one-tenth of everything India produces in a year. India is running a version of the economic playbook that South Korea and Indonesia once ran — protect your conglomerates and let them do the building.

South Korea came through it, at enormous political and economic cost. Indonesia’s economy contracted by 13% in a single year.

India is somewhere earlier in that story. In this episode of Daybreak, host Snigdha Sharma asks which ending we are heading toward.

**This episode was first published on 26 May, 2026

Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.