More than 91% of listed companies in India are family owned or controlled, R. Dinesh, President Designate, Confederation of Indian Industry (CII) and Executive Vice-Chairman, TVS Supply Chain Solutions Ltd., has said.
Briefing about CII’s upcoming family business summit, Mr. Dinesh, who is also the Chairman of CII-FBN India Chapter, pointed out that generally it was believed that family businesses, which were able to transition from generation to generation, attracted right set of investors to support their growth — be it in public markets or private markets.
This year, the CII-FBN India Family Business Summit on the theme “Future Ready Family Businesses in the New Age” will be held on September 16 and 17 in Chennai. “What we are trying to focus on in this summit is to bring together families from India, Europe and Asia so that we can have shared common learnings on how we have come out of the difficult period of last two years. And also on how the senior and next generation roles had been leveraged and used for the growth of family business,” he added. He said several family case studies would be explained in detail during the summit. Citing examples, he said that there was a case where a family from Singapore will be speaking about starting their own fund while there was another case of a family from Italy who had used new age digitisation and grown their businesses. “One of the families from Asia has had five generations of continuity and how they had transformed their businesses is something that will be covered as part of this event,” Mr. Dinesh added.
Kanishka Arumugam, Co-CEO, Ekki Pumps and Deccan Pumps Pvt. Ltd, who is the Next-Gen Chair CII FBN India said that two-thirds of all businesses in the world are family businesses. “Family businesses give 60% of employment of the global workforce. And they contribute to 70% of the global GDP,” he added.
Marco Rossi of Irsap Group, Italy; Rie Yamada and Natsuki Yamada from the Yamada Family Co Ltd, Japan; Matteo Fumagalli of Sol Group, Italy, Faizal Kottikollon of KEF Holdings, Dubai and Satveer Singh Thakral of Thakral Group of Companies, Singapore, are some of the key international speakers at the summit.
