Family-owned businesses in India are showing greater confidence in their growth outlook than their global peers, according to PwC’s 12th Family Business Survey released on Monday.

A key finding of the survey is the optimism around expansion. 55% of Indian family businesses plan aggressive growth strategies, a stark contrast with just 16% globally. This reflects strong confidence in market opportunities at home and abroad. 

“India’s family businesses have been contributing the predominant share to the country’s GDP and employment. In a decade defined by a young workforce, digital acceleration, and rising global relevance, their purpose-driven ethos, patient capital, and deep people commitment position them uniquely for India’s next growth curve,” the survey noted.

The survey, part of PwC’s global research on family enterprises, highlights India’s unique positioning in a challenging global economy while pointing to areas that could hold back long-term competitiveness. 

“As the country enters a demographic peak and a period of accelerated digital expansion, family enterprises are emerging as architects of ‘kal ka Bharat’, converting structural strengths into long-term advantage,” it said.

Slow adoption of technology

However the path to future readiness is not without hurdles. While 39% of Indian firms prioritise digital transformation and adoption of AI, only a smaller share are active early adopters of technology. According to the survey, this cautious stance on tech investment could affect competitiveness as digital innovation becomes central to business resilience. 

Lack of cross industry representation on boards

Concerns related to governance and leadership succession are also identified as significant factors. Over half of the surveyed Indian family businesses lack cross-industry boards, and 42% of them lack women boards as well; these figures again trail the global averages.

Another sensitive area is successional readiness. Resistance from the senior generation and an uncertain successional transition were the main barriers to next-generation leadership for successor generations.

Clearly defined family values

Despite all these challenges, family enterprises in India continue to be underpinned by values. In excess of 90% of family enterprises claimed to have clearly defined family values that inform their strategic direction.

“India’s family businesses are entering a decisive decade. Growth momentum is strong, but the future will be shaped by enterprises that deepen their purpose, invest in people, strengthen governance, and exercise patience in capital allocation and long-term decision-making,” survey mentioned.