The Bollygarchs’ magic mix

Adaptable, ingenious and combustible, the family firm remains the backbone of India’s private sector, not an anachronism. “This is politically incorrect,” jokes Kumar Mangalam Birla, who runs Aditya Birla, the third-biggest family business house by sales, before going on to argue that the family, and the vim it brings, is an essential part of India’s economy. There is no easy way to categorise these business houses, but vintage is one approach.

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