NEW DELHI: Asia’s richest man Mukesh Ambani took another step on Monday to lay out a succession plan at Reliance Industries Ltd.The 66-year-old elevated his three children as non-executive directors to Reliance’s board and said he will spend the next five years of his chairmanship preparing them to take charge of the conglomerate’s transformation into…
With multiple stakeholders in the family business, succession planning is not only important to pass on the group wealth to the next generation but also to avoid bitter disputes. Yet only 19% of Indian businesses have conflict resolution mechanisms in place, according to a family business survey by PricewaterhouseCoopers (PwC) India in 2023. Just 34%…
Representative Image India’s jute industry is set to see revenue fall 5-6% this fiscal because of lower exports, marking the second consecutive year of decline, according to CRISIL Ratings. However, domestic demand is expected to be stable. Operating margin is seen down 200-250 basis points to 5% as exports, which are more profitable, would be…
