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Cover Story

  • Every year, business school IMD awards one family business from around the world. BT picked the award's selection parameters and asked three experts in family business to rank each parameter's relevance in the Indian context.
  • The fourth generation of the Rs 16,000-crore Murugappa Group consisting of seven cousins/siblings get away three times a year for a retreat outside Chennai with no structured agenda to understand each other and their business better.
  • When he was still a teenager, Anand Piramal wanted to launch a platform from where young Indians could contribute to the nation's growth. At 19, he had started his NGO, Dia.
  • The door to a job in the family concern, Dabur India, was bolted when he was in his late teens: the Burman family decided to get their family business run by professionals.
  • Ask Ashni Biyani, a director of the Future Ideas Group, about how she got interested in her dad's retail business empire, and pop comes the reply: "I have been working for the last 15 years!"
  • At Apollo Charities, Kamineni has supported initiatives such as Sach (Save a Child's Heart) Foundation, Sahi (for the hearing impaired) and Cure for cancer.
  • There had never been any doubt that Harish would enter the family business, so his overseas study plans were tailored to this end.
  • Ever since the Piramal family split in 2004, the three sons of the late Ashok Piramal bounced back to craft their own niches, guided by mother Urvi Piramal.
  • Pallavi Gopinath combines the heart of a poet with the mind of a businesswoman.
  • While Jyotsna Suri still calls the shots, clearing every major decision, other operational decisions are taken to a large extent by her children, whose educational specialisation fit in perfectly with the needs of a fastgrowing hotel chain.
  • Now 30, and Executive Director with the Prestige Group, the Bangalore-based real estate company, Uzma Irfan has revived Sublime—to handle the group's advertising.
  • As the son of India Inc.'s biggest party animal, Siddharth Mallya is like a (much slimmer) chip off the old block.
  • Despite being heir to the large, family-run media business, 29-year-old Lara Balsara knew that there was never going to be an easy path to the top slot at Madison World.
  • After picking up two degrees— one in Systems Engineering and the other in Economics— from the University of Pennsylvania, Vir Advani headed for a private equity job.
  • When Hathway Cable and Datacom Ltd, a provider of cable TV and broadband services, closed its initial share sale recently, Akshay Raheja's 17 per cent stake turned out to be worth some Rs 625 crore.
  • Heirs at India's leading IT families say "No, Thank You", play reticent, or even walk away as their fathers get ready to retire.
  • They are also inheritors being groomed to take over the baton—but away from the media glare.
  • A pick of books, courses, and experts on family business.
  • Most of them started from the bottom, and today under the eagle supervision of senior family members, a whole host of inheritors is pulling out all stops to earn their spurs.
  • Nisa, daughter of Adi Godrej, Chairman of the Godrej Group, would rather be known just by her first name as she helps transform the 113-year-old company.
  • When the Great Depression hit in 1930, three Lalbhai brothers from Ahmedabad— Kasturbhai, Narottambhai and Chimanbhai— pooled their money to set up a textile mill.
Mar 07, 2010
Editors note From the Editor

From the Editor

Today's young inheritors of business-a large number of whom have taken guard in the past one year as the 3rd or 4th generation of their family businesses-are faced with unprecedented opportunities.
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BT-Carma CEO watch

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"India Must Rein in (Wage) Inflation"

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