Report finds 36% of wealthy Indian families have succession plans
Turns out, most wealthy Indian families aren't as prepared for the future as you might expect; a new report found only 36% actually have a formal plan for who takes over their wealth and businesses.
Another 42% have broad alignment on succession but have not yet put it in writing.
The study is based on interviews with family business leaders and wealth custodians across generations, and the families represent wealth ranging from about ₹100 crore to ₹10,000 crore.
Majority now view succession as ongoing
Succession planning is starting to look less like a one-time event and more like an ongoing process: 54% of respondents now see it that way.
Over half say getting everyone ready and on the same page matters more than just handing things down.
Family businesses are also bringing in professional advisers and mixing family leadership with outside expertise, hoping to keep things running smoothly for generations to come.