The Next Gen and Viksit Bharat – Why Family Businesses Matter for India’s Growth
When we talk about a Viksit Bharat, a developed India by 2047, most of us think of unicorns, startups, tech founders, AI, green energy, and the “new India” narrative.
But here’s something a lot of people don’t realise:
India has always been a nation of entrepreneurs, long before the word “startup” existed.
And at the heart of that story are family-owned businesses, from local kiranas and textile traders to real estate & automobile giants, global brands, hospitals, hotels, and manufacturers.
They’re not just a part of the economy; they are the economy.
Family Businesses: India’s Silent Superpower
According to McKinsey, family businesses contribute over 75 percent of India’s GDP, and this could grow to 80–85 percent by 2047.
Another recent study shows they employ millions and keep entire supply chains alive.
So yes, family businesses are not “old school”.
They’re the engine that keeps India moving.
And now, a new wave is taking over, the next-gen entrepreneurs.
Why the Next Gen Matters
This generation is very different from the founders of the past.
They have grown up with: internet access, global exposure, universities teaching entrepreneurship, Social media is changing how brands are built, and a mindset that asks why not? Instead of why?
So when Gen Z and young leaders step into legacy businesses, they’re not just inheriting something, they’re upgrading it.
They’re bringing in: digital-first thinking, sustainability and ESG goals, professional management, new product lines, tech integration, and global collaborations.
The best part? They aren’t replacing tradition; they’re blending heritage with innovation.
How This Helps Build Viksit Bharat
A developed India isn’t just about GDP numbers, it’s about: employment, equal opportunities, innovation, fair markets, and sustainable growth.
Modernising family businesses helps all of this because they operate everywhere, from metros to small towns.
Every time a next-gen leader professionalises a factory, adopts clean energy, digitises a supply chain, or expands into new regions, it pushes India forward.
Government Support + Next-Gen Leadership = A Stronger India. Today, policies like PM Mudra Yojana, Skill India, UDYAM registration, Ease of Doing Business reforms, ONDC, and Manufacturing & digital incentives… make it easier for young entrepreneurs to grow, scale, and innovate.
For the first time, India isn’t just building businesses. We’re building a future-ready business ecosystem.
And now, with the government announcing new initiatives and funding support for startups and young founders, especially those building tech, digital, and innovation-led models — the message is clear: today’s entrepreneurs are not just building companies, they are building future legacies. The startups of today may become the family businesses of tomorrow.
So What’s the Message to Gen Z – Nexxt In Line?
You don’t have to be a billionaire’s kid to be part of this story. You can be: someone continuing your family business, someone joining it with new ideas, someone starting a new startup, someone working in a legacy company, or someone building impact in your local community.
Every role matters.
India doesn’t grow because of one founder, one company, or one unicorn, it grows when millions build, improve, and innovate together.
We Are the Ones Who Take India Forward. We are a generation that doesn’t just want wealth; we want purpose, progress, and pride. We want to build something meaningful.
We want India to be respected in the world, not just for its culture, but for its innovation, entrepreneurship, resilience, and leadership.
So here’s the call:
If you’re Nexxt in Line, whether to a family business or to the responsibility of shaping India’s future, step in with curiosity, humility, and courage.
Our parents built the foundation. We will build the future. And if we get this right, then Viksit Bharat won’t be just a goal. It will be our generation’s legacy.
Writer – Mr. Mohit Goel, Managing Director, Omaxe Limited & Host, Nexxt In Line
