Breaking the glass ceiling in Indian family businesses
Media articlePallavi Bakhru delves deep into Breaking the glass ceiling in Indian family businesses discussing a progressive change with female successors rising to the challenge.
Family businesses and private wealth are built on passion, resilience, and long-term vision. But sustaining that legacy across generations requires more than financial success. It calls for effective governance, strategic planning, robust compliance, and a clear succession roadmap.
At Grant Thornton Bharat, we understand the complexities of family enterprises. Our family office services in India and private client solutions are designed to help business families grow, protect, and pass on their legacy while staying aligned with their values and aspirations.
Economic Survey 2025–26: Video
Watch our leader, Pallavi Joshi Bakhru, discuss the Economic Survey 2025–26 and its implications for widened tax compliance, rising capital expenditure, and wealth mobilisation through share sales—factors that support long‑term investment and economic resilience.
Pallavi Joshi Bakhru
Partner and Family Office Advisory Leader, Grant Thornton Bharat
Understanding the pillars of a family-owned business
Family businesses operate at the intersection of three core areas—family, ownership, and management. Each plays a distinct role and presents its own set of priorities and challenges:
| Family | Ownership | Management |
|---|---|---|
|
Represents emotional and legacy interests. |
Represents financial stake in the business.
|
Includes both family members and professional managers.
|
|
Focuses on values, succession, mentoring.
|
Involves trust, wills and wealth management.
|
Drives day-to-day operations and strategic execution.
|
|
Key concerns: governance, continuity, estate planning
|
Key concerns: retirement, planning, continuity and compensation
|
Key concerns: leadership, incentives and performance.
|
A balanced approach across these three pillars helps families maintain harmony, ensure continuity, and achieve long-term growth.
Challenges for family-owned businesses
Family-owned enterprises bring distinct strengths—strong values, long-term investment orientation, and stability. However, they also face unique challenges that can impact continuity and growth:
1.
Succession planning and grooming next-generation leaders
2.
Aligning ownership and governance interests among family members
3.
Balancing emotional legacy with professional management
4.
Ensuring compliance and mitigating risks such as disputes or fraud
How Grant Thornton Bharat can help
Whether you are a private individual or managing a family office, Grant Thornton Bharat offers seamless advice on a wide range of services. Our Private Client Services team comprises specialists with multi-disciplinary expertise, providing holistic guidance to family-owned businesses on diverse topics, including:
Family businesses are founded on mutual understanding and cooperation. This is why they succeed. However, faith, understanding and heritage can offer a limited scope for growth. With changing times, it is essential to choose the right governance practice to mitigate fraud and ensure long-term success. As wealth and assets are created over a lifetime, it is pertinent to preserve and protect the same for passing on from one generation to another. Our bespoke offering help you realise your goals, be it setting up family governance charter, trusts, wills, estate planning, overseas expansion, or philanthropy.
Pallavi Joshi Bakhru
Partner and Family Office Leader, Grant Thornton Bharat
Why choose Grant Thornton Bharat
Deep family insight
We understand the unique dynamics of Indian family businesses — balancing emotional, financial, and governance needs to sustain harmony and growth.
Multi-disciplinary expertise
Our professionals bring integrated expertise across tax, legal, regulatory, and governance domains for holistic, compliant solutions.
End-to-end implementation
We go beyond design — helping families operationalise governance frameworks, run councils, and mentor next-generation leaders.
Proven and personalised frameworks
Every solution is tailored using tested governance and wealth models that reflect each family’s vision and legacy.
Global reach, local strength
With deep knowledge of cross-border taxation and residency planning, we combine Indian expertise with a trusted global network.
Trusted and empathetic advisory
We offer confidential, non-intrusive guidance, facilitating sensitive discussions with trust, care, and discretion.
Podcast
Faces of Vibrant Bharat
Dr. Anand Deshpande joins Pallavi Bakhru on Faces of Vibrant Bharat podcast to explore entrepreneurship, leadership and legacy in building businesses that last.
Our insights
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Challenges to succession planning in Indian family businesses
Media articlePallavi Bakhru discusses various Challenges to succession planning in Indian family businesses
