PINAKI MAJUMDAR
Jamshedpur, Nov 14: CII’s Jharkhand state unit today organised a session at a city hotel on Empowering Family Businesses, focusing on the theme of “Strategies for Resilience, Growth and Sustainable Success.”
Eminent business leaders highlighted the importance of innovation and strategic collaboration in shaping the future of family enterprises.
The discussion emphasized the need for family businesses to adapt to rapid changes in the business environment, incorporating updated skill sets to remain competitive in a global market.
Ranjot Singh, Chairman, CII Jharkhand State Council & Managing Director, Emdet Jamshedpur Pvt Ltd lauded CII Family Business Network for their determination to help Indian family businesses build sustainable models that contribute to global development and inclusive growth.
Singh stated “Family businesses are crucial to India’s economy, contributing 60-70% of GDP, but they face unique management challenges, particularly as new generations join, and differing family aspirations take place.
He encouraged the family businesses of Jharkhand to thrive and build a strong foundation for long-term success.
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Killol Kamani, Past Chairman, CII Jharkhand State Council, Mentor – CII Jharkhand Family Business Panel & Managing Director, Sparx Technologies Pvt Ltd emphasized that family businesses often face a unique set of challenges, both emotional and operational.
Krishna Kharia, Convenor, CII Jharkhand Family Business Panel & Director, Multitech Components Pvt Ltd said family businesses are a dominant ownership model globally, significantly influencing the economy.
Koushik Modi, Co-Chair Yi Jamshedpur Chapter & Managing Director, Modi Homez Pvt Ltd emphasized on India’s leading role in Asia’s family business landscape, where these enterprises represent resilience, community values, and robust intergenerational commitment.
He further acknowledged the challenges faced by family businesses and praised their resilience and outperforming capabilities over public and multinational corporations.
The session on Empowering Family Businesses brought together about 47 participants, including CEOs and Managing Directors of family-owned businesses.
The session focused on the importance of integrating modern technologies and data-driven decision-making to empower family businesses and ensure their long-term sustainability.