The Thomas Schmidheiny Centre for Family Enterprise recently completed a study on Family Businesses and India’s Transition to a Services Led Economy (1991 – 2018). The contribution of the services sector to the GDP overtook that of the primary sector, thanks to the growing opportunities in services, during the period of early reforms in the 1980s and economic liberalization in 1991. The study finds that family controlled firms in India took active lead in this change process and underwent major changes in terms of the business and sectoral mix of their operations during this period. In fact, they spearheaded the movement into the services sector in the 1990s from an initial inclination towards manufacturing in the pre-liberalization era.


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