Family-run firms have been woven into the fabric of society in India since time immemorial. Regardless of their size, they have contributed greatly to the progress of our people and the community by enabling training, upskilling, and promoting new business techniques. Family Businesses have uplifted millions of people from poverty and transformed the socio-economic environment of our country.
It’s time to give these pioneering families their due. Moneycontrol Pro, India’s fastest subscription-based product, and Waterfield Advisors, India’s largest independent Multi-Family Office and Wealth Advisory Firm, have collaborated to create a platform to recognize families who been instrumental in shaping India’s economy through entrepreneurship, commitment to community, and unapologetic innovation. The Waterfield – Moneycontrol Pro Indian Family Business Awards will shine a spotlight on the contributions of family-run firms to India’s economic growth, and the rise of a culture of corporate and social responsibility in the country.
Sonu Bhasin, Founder – FAB, captured the mood perfectly, when she said, “Family business are the unsung heroes of our economy. We know they are around us, but we are not aware of the contribution they make to the economy. Therefore, I am delighted that the Indian Family Business Awards are recognising these heroes”.
To ensure inclusive representation, and broad-based recognition, the applicants will be segregated into three segments: Super (under 1,000 crores), Mega (under 1,000 and 5,000 crores) and Giga (over 5,000 crores). Other than that, businesses must prove they were incorporated in India and have existed for 10 years at least (5 years, in case of start-ups), and the family is the largest shareholder and/or has management control.
The Indian Family Business Awards will be given out in the categories of Best Family Business, Best Governance, Most Effective Succession Planning, Best ESG & Sustainability, Most Innovative, Disruptive & Transformational Family Business, Best Family Business led by a Woman, and Best COVID response/philanthropy.
The process of shaping the award structure required additional inputs from esteemed partners. Reflecting on their role in helping shape the awards, Vishesh Chandiok, CEO, Grant Thornton Bharat, said, “India’s economic might comes from the continued success of publicly-held family businesses. I’m proud of the fact that GT Bharat can contribute to the effort to highlight the best among Indian family businesses.”
Additionally, the awards also benefit from Waterfield Advisors’ 10 years of experience of advising some of India’s largest family businesses, and managing over $ 4.3 billion worth of assets on their behalf. Founded by Soumya Rajan, a Private Banking veteran and the firm’s CEO, Waterfield Advisors has blazed a new trail in Wealth Management, and garnered a unique perspective on the innate strengths of family businesses.
The ambitious scale of the Indian Family Business Awards has an elite jury to match. It includes Vishesh Chandiok – National Managing Partner, Grand Thornton Bharat, Gopal Srinivasan – Chairman, TVS Ventures, Soumya Rajan – Founder and CEO, Waterfield Advisors, Gaurav Dalmia – Chairman, Dalmia Group Holdings, Sonu Bhasin – Founder of FAB- Families and Business, and Sanjeev Bikhchandani – Founder, Info Edge: Speaking about his role as part of the jury, said, “It’s not just about awarding family businesses, but upholding the skills and values which they represent, and which each of us would like to see more of. And I’m happy to be part of this journey to highlight their contributions.
The stage is set. To nominate themselves, businesses may log onto https://www.moneycontrol.com/msite/indian-family-business-awards. The selection process will be carried out over three weeks, before the award ceremony is held in January 2022.
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