The phrase “family business” is not hard to understand. By definition, any corporation that is run by members of a family, immediate and/or extended is eligible to be called a “family business”. But today, more and more businesses today are making their operations less dependent on the owner entrepreneur. But everything, like in a monopoly situation, depends on the owner and the dynamic of the family and the member-partners. Some of the top family run businesses in India are Reliance Industries, Tata Consultancy Services, Bharati Airtel, Wipro Technologies, Jindal Group, Wadia Group, etc. But aside from these giant conglomerates, the mom-and-pop stores form the basis of a country where family culture and business go hand in hand.

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