Taking Over Is Not Optional: Why Legacy and Entrepreneurship Must Converge in India

By-Sumit Pathak CEO linus International FZCO

Entrepreneurship in India has become a national conversation—but it is incomplete without acknowledging a critical and often overlooked pillar: legacy businesses.

 In the rush to celebrate first-generation startups, pitch decks, and unicorns, we’ve quietly sidelined the significance of Indian enterprises that were built brick by brick over decades—often by fathers and grandfathers who never heard the word “startup” but understood scale, cash flow, and customer reputation in its most tangible form.

 As someone who inherited and expanded a family business that started with construction scaffolding in Dubai and now spans real estate, project exports, and cross-border manufacturing, I’ve learned this firsthand: in India, entrepreneurship is not always something you start—sometimes, it’s something you inherit. And taking it forward is non-negotiable.

 Legacy Is Not a Backward Idea—It’s a Backbone
For decades, Indian entrepreneurship was synonymous with family-run ventures—whether in textiles, exports, logistics, construction, or wholesale trading. These businesses may not make front-page headlines, but they employ millions, pay taxes reliably, and hold the keys to India’s middle-class wealth.

 The mistake we’ve made is assuming that legacy equals complacency. In truth, legacy businesses that don’t evolve die. But those that do—those that merge old-school reliability with new-age thinking—are among the most capital-efficient, resilient entities in India today.

 And increasingly, I see a pattern: many successors are coming back. After a stint in a global job or a business school, they’re returning to the family business with fresh eyes—some reluctantly, some curiously, but many realizing the immense potential waiting to be unlocked.

 Indian Entrepreneurship: It’s Not Either/Or—It’s “And”
Yes, the post-liberalization era catalyzed a new wave of startup activity. Yes, India’s tech ecosystem is maturing, with SaaS unicorns and venture-funded disruptors reshaping sectors from fintech to agritech. And yes, programs like Startup India and Digital India have helped democratize access to capital, knowledge, and mentorship.

 But this does not mean legacy is outdated.

 In fact, it means the next level of entrepreneurship in India must be hybrid: a blending of founder energy and family wisdom; of digital acceleration and asset discipline.

 If India is truly to become a $5 trillion economy, this convergence must be encouraged—not separated. The son or daughter returning to restructure the family’s garment factory or construction firm is just as entrepreneurial as someone launching a new AI-driven platform.

 The Real India Operates Offline
We often forget that beyond India’s tech parks and co-working spaces, there exists another India—the one that operates on truck routes, in mandi sheds, on factory floors, and at the back offices of ports and municipal sites.

 This is where true entrepreneurship is tested—not just in valuation, but in survival.

 In this version of India, your logistics vendor may not have a LinkedIn page, but he controls the reliability of your entire delivery system. Your supplier may not understand equity dilution, but he’ll extend ₹2 crore in rolling credit with a handshake and 20 years of trust.

 These are not legacy constraints—they’re legacy strengths. If modern Indian entrepreneurs learn to digitize without dehumanizing, and automate without forgetting accountability, we may unlock the most powerful version of enterprise this country has ever seen.

  The Successor’s Dilemma—and Opportunity
Today, tens of thousands of mid-sized businesses across India face a generational shift. The founders are ageing, the systems are outdated, and the next generation is unsure whether to step in or walk away.

 My message to them is clear: step in—but step in with clarity, not ego.

 Don’t dismiss what was built before you. Improve it. Systemize it. Digitize the accounts, upgrade the procurement flow, make the brand feel relevant—but keep the cash discipline, the asset prudence, and the vendor loyalty intact.

 Taking over isn’t about carrying a burden—it’s about taking the business to a place your predecessors couldn’t, simply because the tools didn’t exist back then.

 A Nation Built on Continuity
India’s future lies in continuity—not just disruption.
Our challenge is not a shortage of ideas, but a shortage of execution across generations. If we treat legacy businesses as museums, they’ll die. If we treat them as platforms, they’ll scale.

 The story of Indian entrepreneurship is not one of replacement—but of reinforcement. Let the young entrepreneur pitch to VCs, yes. But also let him walk through his grandfather’s warehouse and learn how margin is made in the real world.

Perspective by Arsh Mogre, Economist, PL Capital based on GDP Data

By- Arsh Mogre, Economist, PL Capital based on GDP data:

“India closed FY25 on a high note: real GDP in Q4 expanded 7.4 % y/y to ₹51.35 lakh crore, out-running the 6.7 % consensus and lifting full-year growth to 6.5 %—the fastest among large economies. The nominal print rose an even stronger 10.8 %, pinning the implicit deflator at roughly 3.2 %, half its pre-pandemic average and signalling that volume did the heavy lifting. Yet beneath the stellar top line, three forces shaped the quarter: a capex-centric demand mix, a construction-heavy supply response, and a tax-driven wedge between GDP and GVA.

On the demand side, gross fixed capital formation jumped 9.4 % y/y, contributing almost three percentage points to headline growth even though its share slipped to 33.9 % of GDP as import-intensive machinery orders cooled late in the quarter. Private consumption, by contrast, lost steam after the festive surge; seasonally adjusted estimates suggest a low-single-digit rise, consistent with softer urban discretionary outlays and a flat­-to-negative real wage bill. Government final consumption actually contracted 0.3 % y/y, confirming that the fiscal impulse came almost entirely from back-loaded capital expenditure rather than revenue spending. Net exports flipped from a drag in Q3 to a 0.6-percentage-point boost as real imports fell 5 % while exports slipped only 1 %, and a 12.7 % leap in net indirect taxes added 60 bps to the GDP–GVA gap.

Supply-side data echo that narrative. Construction value added surged 10.8 %—its third consecutive double-digit quarter—thanks to a 33 % rise in highway awards and a 15 % jump in cement output, accounting for 0.8 percentage point of the 6.8 % GVA print. Manufacturing grew 6.9 %, but gains were narrowly led by vehicles and capital goods, while low-margin segments such as textiles and basic chemicals stagnated, mirroring the divergent trend in corporate earnings. A primary-sector rebound to 5 % growth, from 0.8 % a year earlier, owed to a bumper rabi crop that lifted rural incomes ahead of the unusually early monsoon.

Services momentum moderated to 7.8 %; trade-hotel-transport activity normalised post-holiday, and financial-real-estate value added eased in line with lower market turnover.

Looking ahead, the runway for another year of 6.4–6.6 % growth hinges on three stress tests. First, the capex multiplier must survive fiscal fatigue: centre-state gross borrowing already approaches 10 % of GDP, and without a decisive private-sector hand-off the 3-ppt boost from investment will erode. Second, global “reciprocal” tariff escalation threatens India’s export elasticity just as world goods demand is crawling at 1 % y/y; historically, each 1-ppt hit to global trade trims domestic growth by about 25–30 bps. Third, consumption depends on weather: an early southwest monsoon typically adds 60 bps to rural spending over two quarters, enough to offset half the drag from softer urban demand, but rainfall volatility could just as easily reverse that lift. In sum, the headline surge confirms India’s short-cycle resilience; sustaining it into FY26 requires a smooth hand-over from public to private investment, a benign trade environment, and steady rural demand—all of which remain live variables at the turn of the fiscal year.”

Reaction to Q4 FY25 GDP data

By-Anshuman Magazine, Chairman & CEO, India, Southeast Asia, Middle East & Africa, CBRE

“GDP growth shows strong economic progress, beating expectations and proving resilient despite global challenges. The growth highlights strong domestic demand, rural market recovery, and an active industrial sector. The economy’s adaptability is evident in the broad industry growth. The construction and financial sectors’ expansion has boosted the real estate market, increasing investments, improving homebuyer confidence, and raising demand.”

Vedanta’s Nand Ghar Partners with JSI & Rocket Learning to Boost Early Childhood Development in Dholpur

30th May 2025, New Delhi/Mumbai: Nand Ghar, Vedanta’s flagship CSR initiative is reimagining anganwadis as modern centers equipped with smart education tools, BaLA (Building as Learning Aid) designs, LED TV, and child-friendly infrastructure to create engaging, safe spaces for children aged 3–6 years. They also facilitate fortified meals, healthcare services, and nutritional support for children and mothers, while empowering women through skill-building programs that promote sustainable livelihoods and community development.

Project Balvardhan is an initiative under Nand Ghar by the Anil Agarwal Foundation. It is focused on combatting malnutrition among children and enhancing the capacity of anganwadi workers. As per NFHS-5, 31.8% children under 5 years are stunted and 16.8% children are stunted in Rajasthan. Through the project, more than 800 Anganwadi centers will be developed into Nand Ghars across Dholpur in Rajasthan, benefiting over 80,000 children and 14,000 women beneficiaries, while largely impacting lives of more than 1,00,000 community members. The initiative using a 360-degree systems approach focuses on strengthening early childhood care and education (ECCE), addressing all forms of malnutrition, and ensuring the provision of quality supplementary nutrition as per the guidelines of ICDS Rajasthan. A strong emphasis will be placed on behavioral change practices to create a long-term and sustained impact on health and nutrition status for both children and women.

To build a holistic, community-driven development model focused on sustainability, scalability, and measurable impact, the strategic collaboration with JSI and Rocket Learning will help build a strong foundation for nutrition, health and education interventions at Nand Ghar.

CEO, Nand Ghar, Mr. Shashi Arora reaffirmed the program’s commitment and said, “At Nand Ghar, we believe that real change begins at the grassroots. Project Balvardhan is a significant step towards our dedicated efforts to combat malnutrition among children and empower anganwadi workers. Together with the Government of Rajasthan, JSI, and Rocket Learning, Nand Ghar is committed to drive this change from the grassroots and build a secure future for our future generation.”

Under Project Balvardhan, JSI will lead interventions to improve maternal and child nutrition & health by enhancing the nutritional status of children under 6 years via strengthening Anganwadi services through infrastructural upgrades, digital growth monitoring and tracking (anthropometry), and promoting maternal nutrition awareness through evidence-based practices via systems-driven Nand Ghar model. These efforts will directly benefit children, pregnant women and lactating mothers, while uplifting the overall health outcomes in surrounding rural communities. Efforts shall also be concentrated towards enhanced capacity building of Nand Ghar Didis (AWWs), front-line workers and communities for sustained impact via behavioural change mechanisms.

Rocket Learning will capacitate anganwadi workers in delivering high-quality Early Childhood Care and Education (ECCE) by enhancing child attendance and engagement through interactive learning, developing state-aligned educational content, and training workers in modern teaching methodologies.

JSI and Rocket Learning, in close collaboration with ICDS Rajasthan, are uniting their unparalleled expertise in maternal and child health, nutrition, and early childhood care and education (ECCE) to usher in a transformative era for Anganwadi services. Together, they are poised to deliver an integrated, systems – level approach that not only elevates service delivery standards at Anganwadi centres but also inspires a new vision of holistic child development.

The project is being implemented, with the blessings of Hon’ble Deputy Chief Minister and Minister of Women & Child Development, Smt. Diya Kumari ji—a testament to the government’s strong commitment to child welfare and rural development. Project Balvardhan stands as a beacon of collaborative impact—driven by partnerships, powered by community, and rooted in sustainability.

Zee Business Wealth Creation Summit 2025: Shaping the future of smart investing and financial literacy

In a time when markets are evolving, financial tools are expanding, and wealth-building avenues are multiplying, Zee Business once again took center stage as the torchbearer of India’s financial empowerment. The Zee Business Wealth Creation Summit 2025, held on 29th May, 2025 in Mumbai, was a powerful movement that reinforced the channel’s legacy of transforming viewers into informed investors and inspiring a national culture of wealth consciousness.

This high-impact summit drew strength from a story that began on March 24, 2020 — the day India witnessed its most severe stock market crash. Where others saw fear and uncertainty, Mr. Anil Singhvi, Managing Editor of Zee Business, saw opportunity. His timely insights, backed by in-depth research and unmatched experience, helped Zee Business viewers not only navigate the crash but emerge with wealth-creating strategies. What started as a bold editorial stance has since grown into an annual celebration of resilience and foresight — Wealth Creation Day, now marked every March 24, and followed by a two-week long Wealth Creation Week.

The Zee Business Wealth Creation summit carried that powerful legacy forward, gathering some of India’s most respected market minds, financial experts, fund managers, and thought leaders on one common platform — with a singular goal: to decode the future of wealth creation for individuals, families, and businesses. With the theme of making smart financial choices in a fast-evolving economic landscape, the summit empowered lakhs of viewers with deep insights into market cycles, disciplined investing, and the rise of retail participation in India’s growth story.

This on-ground summit opened with a powerful fireside chat between Anil Singhvi and Navneet Munot, MD & CEO of HDFC Asset Management, who highlighted the significance of India’s maturing investment ecosystem, the necessity of long-term equity commitment, and the crucial role mutual funds play in building sustainable wealth. Another engaging fireside chat titled ‘Blueprint for Profitable Trading & Investment’ featured Pranit Arora, Co-founder and CEO of Univest, in conversation with Smita Singh of Zee Business. This session offered strategic insights into effective trading practices and investment frameworks in today’s dynamic market environment. These dialogues set the tone for two insightful panel discussions: the first, ‘How to Create Wealth from the Equity Market,’ featured industry stalwarts Nilesh Shah, Pankaj Tibrewal, and Manish Gunwani, who, alongside Singhvi, delved into market dynamics, sectoral opportunities, and strategies for retail investors to harness India’s equity growth potential. The second panel, ‘Personal Finance: The Perfect Formula for Wealth Creation,’ brought together experts including Feroze Azeez, Pooja Bhinde, and Harshvardhan Roongta, who emphasized holistic financial planning—highlighting goal-oriented investing, disciplined budgeting, risk mitigation, and the rising importance of tailored financial advice amid today’s complex economic landscape.

Mr. Anil Singhvi, Managing Editor, Zee Business, highlighted, “At Zee Business, we aim to transform every viewer into a confident wealth creator. March 24, 2020, was a turning point that proved amidst uncertainty lies immense opportunity. This summit reaffirms our commitment to empower millions with knowledge, clarity, and actionable strategies to navigate market complexities and build lasting financial freedom. Wealth creation is all about shaping a prosperous future for every Indian.”

Speaking on the overarching success of the summit and the channel’s commitment to India’s financial future, Mr. Karan Abhishek Singh, CEO of Zee Media Corporation Limited (ZMCL), said, “At Zee Media, we believe that financial empowerment is the foundation of a developed India. Zee Business has taken the lead in making financial literacy accessible, aspirational, and actionable. Beyond awareness, we are also enabling real wealth creation by guiding viewers with credible insights, expert advice, and market-driven opportunities. We are proud to lead this transformation.”

From breaking ground in 2020 to building momentum in 2025, Zee Business has institutionalized the concept of wealth creation. No longer reserved for the elite, wealth strategies are now reaching homes in Tier 2 and Tier 3 cities, creating first-time investors, nurturing long-term savers, and instilling a new discipline of goal-based planning. As the summit concluded, one thing was clear — the next generation of wealth creators are not just CEOs and fund managers.