ALL IN THE FAMILY

FAMILY BUSINESSES IN INDIA HAVE EVOLVED OVER THE DECADES AND CENTURIES, ESPECIALLY BLOOMING AFTER THE ECONOMY WAS LIBERALISED. BUT THE JOURNEY TO STAY RELEVANT CONTINUES

BY KRISHNA GOPALAN

A FAMILY MANUFACTURING textiles. A jewellery maker’s descendant. A film distributor’s grandchild. Or just a wealthy classmate with brothers, sisters and cousins living together. Regardless of where you grew up in India, there was always a friend who came from a business family. This was a phenomenon we encountered, and we still do. Family business is a tradition that goes back several hundred years in India. With time, these families evolved to accommodate more members, while some people left the family enterprise to chart their own path. In the process, new and stronger businesses emerged, while the less fortunate ones fell on hard times. The new India—which took off in 1991 with economic liberalisation—has seen many a business take off exponentially. Competing with global counterparts, these ventures have upped the game…

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Business Today (Digital) - 1 Issue, 18 September 2022

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