Indian Family Businesses: A Contemporary Analysis

Abstract

Globally for centuries, business was owned and governed by families of business acumen and reputation. India is no exception. Families’ contribution to build nation’s wealth by their entrepreneurial business activities is seen in all periods of Indian history, from princely states to pre and post-independence periods. The prominent family business houses in India are Tata Group, Aditya Birla Group, TVS Group, Kirloskar Group and Godrej Group. As per India Corporate Solutions Group’s study in 2015, family business contributes around 79 percent of GDP annually and India has 108 publicly listed family owned businesses making it third highest in the world behind China and USA The dynamics of family business plays crucial role in sustainability and growth of family business in India. This paper aims to examine spread, challenges and opportunities of family business in India from contemporary studies and suggest measures to overcome difficult situations.