Resilience, Governance Key to Legacy”: Diloo Parikh Urges Family Businesses
CII Jharkhand organizes session on ‘Securing Family Legacy’
Jamshedpur: CII Jharkhand organized Session on Securing Family Legacy, focusing on the theme of “Strategic Wealth Preservation & Succession Planning.” The session delved into deliberations on several critical topics aimed at empowering family businesses to safeguard their long-term interests. The areas of focus included topics to ensure financial sustainability across generations, to control and continuity amid changing dynamics and to facilitate smooth leadership transitions.
Suvendra Kumar Behera, Imm. Past Chairman, CII Eastern Region & Vice Chairman & Managing Director, RSB Transmissions (I) Ltd emphasized the profound role family businesses play in shaping not just economies, but identities rooted in tradition, perseverance, and regional pride. He highlighted how Jharkhand’s industrial fabric has been significantly woven by generations of family-led enterprises, particularly in manufacturing and core sectors. He focused on the need for family enterprises to adapt their thinking—preserving traditional values while embracing forward-looking strategies to remain relevant in a changing environment.
Diloo Parikh, Vice Chairman, CII Jharkhand State Council & Director, Vaidehi Motors Pvt Ltd emphasized the importance of resilience and agility for family-run enterprises in today’s dynamic environment. He highlighted that protecting and growing family wealth, while ensuring its smooth transition across generations, remains a key priority for business-owning families. Mr. Parikh also underlined the significance of strong family values, structured governance mechanisms such as family constitutions, and sound financial planning as essential tools for sustaining legacy, avoiding conflicts, and enabling long-term business success.
Krishna Kharia, Convenor, CII Jharkhand Family Business Panel & Director, Multitech Components Pvt Ltd highlighted India’s deep-rooted legacy of family-owned businesses, which have long served as the backbone of the nation’s economy. He emphasized that these enterprises are not only economic engines but custodians of tradition, values, and generational legacy. As Indian family businesses evolve, they are increasingly embracing structured succession planning, clear communication, and professional governance to adapt to the changing landscape. He also acknowledged the complexities of managing intergenerational aspirations and wealth, noting that thoughtful reforms and adaptive leadership are essential to sustaining unity, profitability, and long-term growth.
Rajjeev Shukla, Co convenor, CII Jharkhand MSME Panel & Partner, Himalaya Enterprises emphasized the importance of shifting mindsets—from informal, legacy-driven operations to structured, future-focused institutions capable of withstanding generational transitions. Drawing attention to the often-overlooked emotional and relational complexities within business families, he noted that sustained success depends not only on financial acumen but also on empathy, mutual respect, and collaborative vision. He encouraged families to proactively adopt governance frameworks that reflect their unique values while enabling strategic decision-making, thus ensuring that family businesses remain both resilient and relevant in a changing world.
The speakers were Amit Rathi, Managing Director, Spark Capital PWM; Ruchi Paleja, Senior Vice President, Spark Capital PWM and Rajneesh Pathak, Founder &
CEO, Global North Residency & Citizenship. The Session on Empowering Family Businesses provided valuable perspectives on navigating generational transitions, preserving wealth, and adopting structured governance for long-term continuity. Through expert-led discussions, the program highlighted practical approaches to align family values with business priorities, manage evolving leadership roles, and ensure financial resilience. The session emphasized the need for legal clarity, transparent communication, and strategic planning to sustain legacy-driven enterprises in a dynamic environment. CII Jharkhand remains committed to supporting family-owned businesses with insights and tools that foster stability, adaptability, and purposeful growth across generations.
