CII-FBN to help Indian family businesses build sustainable business models

The Confederation of Indian Industries (CII) along with Family Business Network (FBN) is gearing up to gather Indian family businesses to help them build sustainable business models, therefore contributing to global sustainable development and inclusive growth, as well as the prosperity of the family business.

The Indian chapter of CII-FBN aims to offer the family businesses a place to grow, learn from each other's experiences, facilitate relationships within the family, raise awareness around issues surrounding family businesses and more.

CII-FBN will host a number of events throughout the next year including the annual summit in India which will be slated for February. The theme for 2022 is "Family Business: Living our Values in the New Age." The event will cover several topics such as the potential of business businesses to lead sustainable transformations, role of the next generation in professionalising the business, digitisation opportunities and more.

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“With the focus on sustainable growth and evolving digital solutions, significant opportunities arise for family businesses to develop their approach for the future. Family businesses in India have all the necessary ingredients to successfully grow and have a strong platform for future generations to benefit from. CII-FBN will focus on creating the right balance between value creation and sustainability as we prepare for the future,” said R Dinesh, Chairman of CII-FBN India Chapter, said in a statement.

According to Kanishka Arumugam, Chairman of Next Gen Committee CII FBN India, family businesses dominate key sectors in India. "There’s $12 trillion to be made annually by businesses whose work advances the United Nations’ Sustainable Development Goals (SDGs). It is one of the biggest business opportunities for family businesses of the past one hundred years,” he was quoted as saying.

The sessions will also attempt to find out how to balance existing operations while actively scouting and capitalising on emerging opportunities.