The year 1991 ushered in a new dawn for the Indian economy with economic reforms across sectors. The entrepreneurial spirit among Indians took advantage of the opportunities, and a new class of family businesses—the standalone family firms (SFFs)—emerged.
In a paper titled Family Business 1990-2015: The Emerging Landscape published by the Thomas Schmidheiny Centre for Family Enterprise at the Indian School of Business in July 2017, we said that by 2015, SFFs accounted for 57 percent of the 4,809 listed firms studied. Close to 73 percent of these were incorporated between 1981 and 1995. SFFs were, in a sense, a creation of the new reforms. Read more…
Author: Professor Kavil Ramachandran, Executive Director, and Nupur Pavan Bang, Associate Director at the Thomas Schmidheiny Centre for Family Enterprise, ISB.
Source: This article is extracted from Forbes dated February 21, 2018.