India's Family Businesses Thrive but Face Growing Succession Crisis

Indian family businesses are witnessing remarkable growth, expanding their global footprint and adopting new technologies. However, a major challenge is emerging around leadership continuity, as the next generation increasingly chooses careers outside their family enterprises. Only a small proportion of heirs are willing to take over the businesses, despite founders largely remaining optimistic about the future. This growing disconnect between generations signals an urgent need for family firms to rethink and modernize their succession planning strategies to safeguard their long-term viability.