Bharat Economic Forum Announces the 3-Day Family Business Legacy Summit & Awards 2025 in Mumbai

"Family businesses are not just the engines of our economy—they are custodians of legacy, values, and social responsibility. The Family Business Legacy Summit & Awards 2025 is designed to bring India’s influential leaders together to share insights, forge meaningful collaborations, and collectively contribute to the vision of a developed, inclusive, and sustainable India by 2047." By Manish Patel, Founder & Chairman, Bharat Economic Forum

India’s economic narrative has been built on the enduring spirit of family-owned enterprises. For centuries, these businesses have been the lifeblood of trade, industry, and commerce. From the Chettiars of Tamil Nadu, who financed trade networks across Southeast Asia, to the Marwaris of Rajasthan, whose entrepreneurial acumen shaped markets across India, family businesses have always been more than profit-making entities — they have been pillars of communities, stewards of ethical values, and architects of regional and national growth.

Even in the modern era, family businesses remain a dominant driver of India’s economic framework. According to HSBC Global Private Banking, family-owned businesses contribute 79% of India’s GDP, underscoring their central role in the nation’s growth. The MSME sector, largely dominated by family-run enterprises, contributes about 30% to GDP and employs over 110 million people, as per the International Finance Corporation (IFC). Beyond MSMEs, India’s largest corporate houses — Tatas, Mahindras, Bajajs, Adanis, and Godrejs — continue to demonstrate strategic foresight, resilient leadership, and long-term vision that have helped India navigate challenges and scale globally.

The Bharat Economic Forum (BEF), India’s premier platform for thought leadership, collaboration, and strategic engagement among business leaders, is proud to announce the Family Business Legacy Summit & Awards 2025, a meticulously curated three-day event to be held in Mumbai, India’s financial and commercial capital. The Summit is scheduled to bring together India’s most influential family business owners, next-generation heirs, fund managers, and industry stakeholders for a transformative experience focused on legacy, collaboration, and national impact.

The think tank serves as a strategic platform to guide family businesses and their heirs in harnessing their wealth and influence for national development. BEF facilitates peer learning, knowledge sharing, and collaborations among family business leaders, fund managers, and strategic investors. By offering structured mentoring, curated discussions, and exposure to global best practices, BEF helps next-generation leaders understand how to integrate business strategy with societal impact, intergenerational wealth planning, and sustainability objectives.

Event Structure:

• Day 1 & Day 2 – Networking, Leisure & Experiential Engagements: Delegates and invited awardees will participate in private networking lunches, VIP dinners, and local sightseeing tours to explore Mumbai’s cultural heritage and economic landmarks. These days are designed to create informal yet meaningful connections between business leaders, investors, and industry influencers, fostering dialogue, idea exchange, and strategic relationship building. Leisure activities complement business discussions, providing an atmosphere conducive to reflection, collaboration, and trust-building.
  

• Day 3 – Family Business Legacy Awards: The final day will celebrate excellence and legacy. Family business owners, fund managers, and other key stakeholders who have demonstrated innovative leadership, enduring impact, and societal contribution will be felicitated. The awards not only recognize achievement but inspire the next generation to continue building enterprises that honor heritage while contributing to national and global progress.

The Summit serves as a hyper-networking platform, where India’s most influential family businesses converge to strategically explore investment opportunities, partnerships, and initiatives aligned with sustainable growth and societal welfare. By bringing together wealth holders, thought leaders, and innovators, BEF ensures that family business heirs inherit not just financial wealth but a sense of responsibility, vision, and purpose.

The Strategic Evolution: Family Offices

A significant evolution in the landscape of Indian family businesses has been the rise of family offices. These offices are professional entities created by wealthy families to manage multi-generational wealth, consolidate holdings, and invest strategically across sectors. From approximately 45 family offices in 2018 to nearly 300 by 2024, this trend highlights how next-generation heirs are professionalizing wealth management, while ensuring continuity of their family legacy. Family offices serve as platforms for strategic investment, innovation, philanthropy, and intergenerational knowledge transfer. They allow heirs to preserve the family ethos while participating actively in shaping industry trends, funding new ventures, and driving sustainable growth.

The Role of Family Businesses in Viksit Bharat 2047

As India approaches its centenary of independence in 2047, the concept of Viksit Bharat — a developed, inclusive, and sustainable India — requires leadership that goes beyond short-term profits. Family businesses are uniquely positioned to play this transformative role because they inherently operate with a long-term mindset, multi-generational planning, and societal responsibility.

Their contributions to Viksit Bharat will manifest in multiple ways:

• Driving Innovation and Entrepreneurship: Family businesses are increasingly investing in research, new technologies, and emerging sectors, fostering entrepreneurial ecosystems that generate jobs and enhance India’s competitiveness.
  

• Promoting Sustainability: With global attention on climate change and resource optimization, family businesses are leading by example, adopting sustainable practices, renewable energy solutions, and green manufacturing.
  

• Enhancing Social Welfare: Through CSR initiatives, family businesses have been pivotal in improving education, healthcare, rural development, and poverty alleviation, creating meaningful and measurable social impact.
  

At the heart of this approach is the ancient Indian philosophy of Vasudhaiva Kutumbakam — the belief that the world is one family. Next-generation heirs are increasingly embracing this worldview, realizing that wealth is a responsibility, not just a privilege, and that the prosperity of their businesses can and should extend to communities, the nation, and the planet.

Conclusion

Family businesses have always been the architects of India’s economic and social landscape. They have created industries, provided livelihoods, and shaped the culture of enterprise in the country. Platforms like the Family Business Legacy Summit & Awards 2025, organized by Bharat Economic Forum, amplify their capacity to create meaningful impact, equipping heirs to navigate complex global challenges while preserving and enhancing their family legacies.

As India moves toward 2047, these businesses will continue to define the corporate, societal, and environmental trajectory of the nation. Guided by values, purpose, and the philosophy of Vasudhaiva Kutumbakam, family businesses will be the torchbearers of Viksit Bharat — ensuring that economic growth, social welfare, and sustainability are inclusive, strategic, and globally responsible.