Family-owned businesses are a major part of India’s economy. They contribute 70% to the country’s GDP and make up 80% of all businesses. These enterprises are vital, employing around 60% of the workforce. This was the main point shared at the Kerala Family Business Conclave 2025 in Kochi.
R. Dinesh, the Immediate Past President of the Confederation of Indian Industry (CII), spoke about the need for the younger generation to gain knowledge and skills in managing family businesses. He stressed that understanding business details is key to effective management.
R. Nandini, chairperson of CII Southern Region, pointed out that family businesses are changing. She said they need to modernize to keep up with new challenges. Focusing on professional management, adopting technology, and planning for leadership transitions are essential for growth.
Pallavi Joshi Bakhru, a partner at Grant Thornton Bharat LLP, mentioned that India has the third-largest number of family businesses globally. The conclave also welcomed a delegation from countries like the Netherlands and Germany, emphasizing international interest in family business dynamics.
Sessions at the event highlighted how important innovation and sustainability are for family-owned enterprises. These businesses often think long term, which helps them adopt sustainable practices that can benefit both the environment and their financial health.
Overall, the discussions reinforced that for family businesses to thrive, they must embrace professionalism, be open to innovation, and commit to sustainable practices. This approach not only secures their future but also supports India’s broader economic goals.
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Source linkGDP,Family-owned businesses
