A new report released by Great Lakes Institute of Management, Chennai, titled Building Entrepreneurial Legacies: Understanding the Role of Family Offices , reveals that family-owned businesses contribute to nearly 70 per cent of India’s GDP and over 60 per cent of national employment. This underscores their indispensable role in India’s economic growth story.

The report was unveiled at the Family Business Conclave 2025, jointly hosted by Great Lakes Institute of Management and the Madras Management Association (MMA), on the theme ‘Creating Entrepreneurial Families – The Role of Family Offices.’

The study, authored by Raj Krishnan Shankar, Professor of Strategy & Entrepreneurship at Great Lakes, highlights how family offices are emerging as critical enablers for governance, legacy plann

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