“Badly-run family firms run the risk of not being able to grow profitably and of scaring off potential investors,” said Anjan Ghosh, a general manager at ICRA, a unit of Moody’s Investors Service that has studied family firms in India.Īs India faces the fallout of the credit crisis and fears of a global recession rise, family-run companies may need to quickly determine how they will handle succession or risk being badly buffeted by a turbulent global economy.
Yet some of India’s largest conglomerates are still family affairs, much to the chagrin of investors who have seen some family-run companies implode as the founders have died and their children have squabbled over their business empire inheritance. With names such as Tata, Birla, Godrej and Reliance, they are some of the biggest players in the world in industries that range from steel to concrete, autos, telecoms and petrochemicals. Mukesh Ambani, chairman of Reliance Industries, holds a jar containing the first crude oil produced from the company's KG-D6 block in the country's east coast, at a news conference in Mumbai in this Septemfile photo.
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