End to family drama: How India’s smaller family businesses are investing in succession planning & family constitutions

Indian family-run businesses, crucial to the nation's growth, are increasingly adopting formal succession planning and family constitutions, mirroring practices of larger conglomerates. Driven by experiences of conflict and the need for investor confidence, these businesses are structuring operations, defining roles, and establishing decision-making protocols. While navigating family dynamics remains challenging, the trend signifies a shift towards professionalization and long-term sustainability.