The number is expected to grow rapidly, with promoters establishing more businesses in Tier-II and Tier-III cities.
Family businesses play a crucial role in India's booming economy, spanning manufacturing, retail, real estate, healthcare, and finance.
These enterprises, which include both large conglomerates and smaller firms, together contribute 60-70 per cent of the country's gross domestic product (GDP), stated the report.
This story is from the July 04, 2024 edition of Business Standard.
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This story is from the July 04, 2024 edition of Business Standard.
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