The eagerly anticipated Indian Family Business Awards are back for their electrifying third edition, reaffirming their role in celebrating the monumental contributions of family businesses to India's economy. As the bedrock of the nation's economic landscape, these enterprises radiate resilience, innovation, and enduring community values. Moneycontrol PRO and Waterfield Advisors are thrilled to once again orchestrate this prestigious event, highlighting the exceptional growth, governance, and innovation demonstrated by family-owned businesses across the country.
The awards seek to illuminate the path of family-owned businesses that have sculpted the contours of India's dynamic economic terrain. Prepare to be enthralled by the forthcoming spectacle as we usher in the eagerly awaited live extravaganza of the Indian Family Business Awards 2023.
This esteemed gala is poised to reaffirm the enduring eminence of family businesses in India's economic chronicle. Amidst a crescendo of jubilation, we shall pay homage to the paragons of enterprise that have inscribed their legacies into the very fabric of our nation's commercial landscape.
The Spotlight Awaits: Indian Family Business Awards 2023 and Nominations
Indian family businesses, some tracing their lineage back to pre-independence India, have consistently propelled economic growth and stability, serving as the cornerstone for many of India's corporate behemoths, including the illustrious Tata Group and the vibrant Reliance Industries.
Family businesses are alchemists, seamlessly fusing traditional values with contemporary strategies, thereby fortifying their resilience in the face of economic instability. As evidenced by the PWC Family Business Survey 2021, a staggering 70% of family businesses weathered the storms of 2020 sans the need for additional capital, with an overwhelming 88% anticipating growth in 2022. This tenacity was palpable during the crucible of the COVID-19 pandemic, where family businesses not only sustained employment levels but also steadfastly bolstered community welfare initiatives.
To vie for the coveted Indian Family Business Awards, enterprises must be domiciled in India and boast a decade-long operational legacy, save for nascent ventures that have thrived for a minimum of five years, with familial ownership or management control being paramount.
The awards traverse three revenue strata—Super (annual revenues under 1,000 crores), Mega (annual revenues between 1,000 and 5,000 crores), and Giga (annual revenues surpassing 5,000 crores)—ensuring a tapestry of inclusivity that lauds entities across the spectrum, from burgeoning startups to established conglomerates.
The award categories serve as an ode to excellence, spanning various facets of business operations, including - Best Family Business, Best Governance, Most Innovative, Disruptive & Transformational Family Business, Best Family Business Led by a Woman, Best Start-up and Philanthropy.
Past Highlights: The Triumphs of Indian Family Business Awards 2021 & 2022
The 2021 edition of the Indian Family Business Awards bestowed accolades upon some of India's most iconic family-run enterprises. Titans such as SRF Limited, crowned as the Best Family Business in the Giga category, and Apollo Hospital, lauded for its exemplary COVID Response, graced the winner's circle. The awards served as a poignant testament to the burgeoning prominence of women in leadership roles, with Fratelli Wines and JK Lakshmi Cement basking in the limelight for their female-led stewardship.
The 2022 gala unfurled as a majestic tapestry of familial triumph, bedecked with melodies, pageantry, and poignant anecdotes shared by luminaries like Sudarshan Venu of TVS Motor Company and Roshni Nadar Malhotra of HCL Tech. These narratives underscored the pivotal role of resilience, innovation, and community engagement in propelling the ascendancy of family enterprises. The event served as a clarion call to the significance of family businesses in underpinning India's economic edifice, contributing a lion's share to the GDP and fostering employment opportunities for nearly 60% of the workforce.
The 2022 awards also honored outstanding accomplishments. Insightful discussions revealed the growing trend of women taking on leadership roles in family businesses. Soumya Rajan, esteemed CEO of Waterfield Advisors, emphasized that 38% of leadership positions in family enterprises are now held by women, a number expected to rise. This change reflects the increasing number of talented women entering the workforce, expanding the pool of potential future leaders.
Esteemed panelists, including luminaries such as Rishabh Shroff, the maestro behind Cyril Amarchand Mangaldas, and Ashwin Mohan, the editorial luminary of Deals Money Control, delved into pivotal trends in succession planning and the labyrinthine challenges of international financial diversification. The event cast a discerning gaze upon the imperatives of robust governance frameworks and the strategic role of family offices in nurturing the longevity and prosperity of family-owned businesses.
A Legacy Beckons: Indian Family Business Awards 2023
Join the ranks of industry titans like Tata Trusts, Reliance Industries, Apollo Hospitals, Muthoot Finance, and TVS Motor Company by showcasing your family's exceptional business legacy at the Indian Family Business Awards 2023.
These prestigious awards celebrate the resilience, innovation, and leadership that define the backbone of India's economy. We invite you to stand among the giants who have not only shaped India's economic landscape but also made indelible marks on society. These awards serve as a testament to their unwavering spirit and enduring legacy.
The Indian Family Business Awards 2023 is more than just an event—it’s a movement celebrating the essence of family enterprises that have shaped India’s economy and society. With the spotlight on the most illustrious family enterprises, this event will be a spectacular fusion of tradition, innovation, and celebration. Expect an evening filled with inspiring stories, riveting performances, and moments of sheer grandeur as we honor the trailblazers of Indian industry.
Join us at the Indian Family Business Awards 2023, and let your story be part of this grand legacy. Together, we will honor the past, celebrate the present, and inspire the future of family businesses in India.
Nominations are now open: http://bit.ly/4bRtusJ
Submit your entries today and be part of this grand celebration of India’s finest family businesses.
#IFBA2023 #BuildingLegacy #Season3
Moneycontrol journalists were not involved in the creation of the article.
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