Kolkata: Are family businesses more sustainable? Do banks feel more secure lending to them? How do they preserve their legacy? These questions took centre stage at the second edition of FICCI’s flagship Family Business Summit – East 2025, held in Kolkata on Thursday on the theme “The Next Horizon: Sustaining Legacies, Building Futures.”
Speaking at the summit, Vandana Yadav, IAS, Principal Secretary, Department of Industry, Commerce & Enterprises, Government of West Bengal, and Managing Director, WBIDC, underlined the vital role of family enterprises in shaping India’s economy. “In Bengal’s industrial history, it is impossible to separate it from the pioneering role of family entrepreneurs who laid the foundations of the organised industry. Over generations, these businesses have created jobs, built communities, and supported infrastructure that continues to serve us today,” she said.
The summit brought together leading family-owned enterprises and next-generation leaders for discussions on balancing legacy with modernisation, tackling generational transitions, and the challenges of passing the baton.
Sushil Mohta, Founder & Chairman of Merlin Group, recalled how his father laid the foundation of their real-estate venture. “During those days, the real-estate industry wasn’t that organised or structured but I worked hard towards it,” he said. Mohta also highlighted the importance of succession, crediting his son Saket for scaling up the business with technology and fresh knowledge. “First generation of businessmen are skeptical about growth but the second generation has an appetite to take risks,” he said.
From the banking lens, Rajneesh Kumar, DGM, SBI, explained why family businesses are often considered low-risk borrowers. “These businesses have a legacy and capital in hand. So, banks are more comfortable in family businesses for security reasons,” he said.