Family Disputes Can Hold Businesses Back: Nirmala Sitharaman’s Message To Family Firms

Finance Minister Nirmala Sitharaman has called for greater professionalisation and stronger governance in India’s family-owned businesses, highlighting the need for clear roles, succession planning, delegation and early resolution of family conflicts. Speaking at AIMA, she also called for management curriculum reform to prepare future leaders for geopolitical risks, climate risks, behavioural science, data, regulation and rapid technological change. Sitharaman said India should move beyond adopting global management practices and develop business practices and standards that the world can learn from. Her broader message: Indian companies must focus not only on scale, but also on durability, quality, innovation, trust and resilience as the country works towards Viksit Bharat 2047.