Indian Family businesses contribute around 79 per cent of the country’s gross domestic product (GDP). Around 88 per cent of these family entrepreneurs believe that the next generation of the family is compatible to take care of the family business, according to a report titled, Family-owned Businesses in Asia: Harmony through Succession Planning 2025, by Ipsos UK on behalf of HSBC Global Private Banking. The study was conducted to understand intergenerational dynamics and succession planning to understand preparedness of the next generations to carry on the business responsibility.