Kolkata : Family-owned businesses in India stand at a crucial turning point as the country prepares for one of the largest intergenerational wealth transfers in its history, according to a new report released by Primus Partners in collaboration with ASSOCHAM.
Titled “The ₹134 Lakh Crore Question: How India’s Family Businesses Must Move from Custodians to Creators,” the report was unveiled in Kolkata during ASSOCHAM Eastern Region’s inaugural Growth Driven Family Business Conclave. The report was released by Dr. Swapan Dasgupta, Finance Minister, Government of West Bengal, with Primus Partners serving as the Knowledge Partner for the conclave.
The report highlights that family-run enterprises contribute nearly 75% of India’s GDP, account for 80% of all businesses, and employ a majority of the country’s workforce. With an estimated USD 1.6 trillion (around ₹134 lakh crore) in family business assets expected to pass to the next generation over the coming decade, the report stresses the urgent need for structured succession planning, stronger governance and innovation-led growth.
According to the study, while ownership transfer is inevitable, many businesses are inadequately prepared for leadership transition. It identifies a significant “readiness gap” between succession planning and leadership preparedness, warning that long-term growth will depend on institutional leadership, professional management, technology adoption and strategic capital deployment.
Speaking at the event, Devroop Dhar, Co-founder and CEO of Primus Partners, said India’s family businesses have built some of the country’s most enduring enterprises but must now focus on creating future value rather than merely preserving legacy.
“Succession cannot be viewed merely as a transfer of ownership. It must be a deliberate process of leadership development, institution-building and strategic reinvention,” he said.
Suvankar Sen, Co-Chairman, ASSOCHAM National Council for Capital & Commodity Markets, said family businesses are facing a unique combination of generational transition, technological disruption and evolving market dynamics. He emphasized that strong governance, professional management and a clear growth strategy would be critical for ensuring sustainable value creation across generations.
The report recommends a practical 3P Framework for family businesses:
Plan: Establish structured succession planning and leadership development.
Prepare: Strengthen governance, institutional structures and professional management.
Pursue: Invest in innovation, new business models and future growth opportunities.
The report concludes that as India progresses towards becoming a developed economy, family-owned businesses will continue to play a decisive role in driving investment, entrepreneurship, employment and industrial growth. The decisions taken by business families today, it says, will significantly shape the country’s long-term economic future.
