From kirana stores to multi-million rupee empires, family-run businesses have fuelled entrepreneurship in India. The Tatas, Birlas, and Ambanis are some of the most powerful and recognised business families and it is such companies which have catered to the daily needs of millions of citizens in India with their products.
India has the third highest number of family-owned businesses in the world. China tops the chart with 167 family-owned businesses, while the US has a 121 such businesses.
These are companies where a minimum shareholding of 20 percent and 20 percent of the voting rights are secured in members of a singly family.
Close to 60 percent of these businesses are now run by third-generation family members. In this series of podcasts, Moneycontrol explores what keeps a family business going, the various cycles of development for a family business and the unique challenges faced by Indian businesses.
Tune in to also explore the journey of the Tatas and Godrejs’ — two of the biggest names of family businesses.