Indian family businesses optimistic on growth, but they remain cautious about investing in technology: PwC’s 12th Family Business Survey

• India among the most forward-looking family business markets; 91% of Indian family businesses are confident about their company's growth compared with 73% globally.
• Indian family businesses show strong intent on technology, with 39% prioritising digital transformation and AI, compared with 24% globally. 
• At the same time, adoption remains cautious, as 24% of Indian family businesses classify themselves as selective or cautious adopters, versus 8% globally.

Mumbai, 9 Feb 2026: Indian family-owned businesses are entering the coming years with stronger confidence and expansion intent than their global peers, according to PwC’s 12th Global Family Business Survey – Indian family businesses: The age of reinvention. The survey finds that Indian businesses are resilient and less impacted by global megatrends currently. However, compared to their global peers, they need to enhance their investment in technology and use it as a competitive advantage. The survey also clearly identifies the need for better governance structures and succession planning.

Our survey engaged with 1,325 family business leaders globally, including around 40 leaders from India, comprising promoters, board members, and next-generation leaders

“At a time of global uncertainty, Indian family businesses stand out for their confidence and ambition. Our survey highlights a strong belief in India’s economic momentum, with family enterprises looking beyond stability to pursue expansion, new adjacencies, and professionalised leadership models. This optimism is rooted in deep purpose, long‑term thinking, investments in tech & interest in AI, and resilience built over generations,” said Sanjeev Krishan, Chairperson, PwC in India.

The India findings present a distinctive story. The survey highlights important inflection points around the transition from digitisation to more intelligence-led decision-making, governance depth, succession readiness and risk preparedness. Purpose and values continue to act as powerful anchors, shaping trust, reputation and decision quality during periods of change.

“Indian family businesses continue to show strong confidence and growth intent, alongside a more deliberate focus on sustaining that growth. As businesses scale, families are placing greater emphasis on governance, leadership continuity, and alignment between ownership and management. Long-term success will increasingly depend on institutionalised and tech-enabled decision-making, effective risk management, and preparing the next generation, while preserving core family values,” said Falguni Shah, Partner & Entrepreneurial and Private Business Leader, PwC India.

Key findings

• Family capital emerges as a strategic advantage
  The report highlights how patient, family‑owned capital continues to differentiate Indian enterprises, enabling long‑term decision‑making, resilience through volatility and sustained investment across business cycles. With India entering a decade marked by demographic scale and domestic demand, family businesses are uniquely positioned to convert continuity into competitive advantage.
  “Family capital in India is not just financial—it is strategic. Our findings show that long‑term orientation, continuity of ownership and a strong sense of stewardship allow family businesses to invest with patience, absorb short‑term shocks, and build enduring value. As India’s economy scales, this form of capital will play a critical role in shaping sustainable growth, added Falguni.
• From digitisation to decision intelligence
  Although 39% of Indian family businesses prioritise digital transformation and AI, the survey notes that adoption remains selective, with many firms still in cautious or wait‑and‑see modes. The next phase of reinvention will require moving beyond basic digitisation to AI‑enabled decision intelligence, embedded governance and data‑driven risk management.
  “Indian family enterprises have achieved scale in digitisation. The next leap will come from using technology and AI to sharpen decisions, not just automate processes. Those that invest decisively in data, analytics and responsible AI—while strengthening governance—will unlock faster, smarter and more resilient growth”, said Manpreet Singh Ahuja, Partner and Chief Clients and Alliances Officer, PwC India.
• Reinvention beyond growth
  Despite strong optimism, the report also flags structural priorities. Succession planning, board diversity and governance modernisation remain areas requiring urgent attention as family enterprises expand across sectors and geographies. Businesses that institutionalise governance, codify values and prepare the next generation will be best positioned to sustain growth over the coming decade.
  As India’s family businesses enter a decade of disruption, there is a clear shift from instinct‑led entrepreneurship towards stronger institutional frameworks and professionalisation. While growth momentum remains robust, future outperformance will increasingly hinge on deeper investments in people, technology and governance. Digital adoption is moving beyond operational efficiency to enable sharper decision intelligence, risk management is evolving from reactive response to structured resilience, and leadership models are blending entrepreneurial drive with professional depth through clearer succession pathways and codified governance. Together, these shifts position India’s family enterprises as key architects of the country’s economic trajectory—driving purpose‑led, technology‑enabled and governance‑anchored reinvention.

Key datapoints

• Growth ambition among Indian family businesses far exceeds that among their global counterparts. 55% of Indian family businesses are planning to aggressively expand (versus 16% worldwide)
• Technology intent is strong, but adoption remains measured, with 39% prioritising digital transformation and AI compared with 24% globally. Moreover, 24% of Indian family businesses remain cautious adopters and only 15% identify as early adopters. 
• Governance gaps persist despite scale and ambition, with 52% of Indian family businesses lacking cross-industry board representation, compared with 29% globally, and 42% reporting no women on their boards, compared to 32% globally, both below global levels. 
• Succession readiness remains fragile, as 52% cite resistance from the senior generation as the biggest barrier to next-generation leadership, compared with 29% globally. Further, 21% have delayed leadership transition due to uncertainty, compared with 10% globally. 
• Strong family values continue to anchor Indian family businesses, with 91% reporting clearly defined values, compared with 83% globally.