BENGALURU: India’s family-run businesses are taking a more structured and optimistic approach to succession compared to their Asian peers, with stronger planning, deeper intergenerational trust, and a clearer intent to keep businesses within the family, according to HSBC Global Private Banking’s new report on family-owned enterprises in Asia.Across the region, a large gap exists between intent and action. While 78% of entrepreneurs surveyed said they want to pass their business on to their family, 52% have no formal succession plan in place. India, however, stands out. The report found that 79% of Indian entrepreneurs plan to transfer their business to a family member, the highest among all 10 markets surveyed, including the UK and Switzerland.Indian business families also reported the highest levels of trust in intergenerational leadership. About 95% of Indian entrepreneurs who inherited their family business said they felt trusted by the previous generation when taking charge, compared to a global average of 81%. Similarly, 92% say they trust the next generation to uphold the values and culture of the family enterprise.Many Indian family businesses are still undergoing first-to-second generation transitions, a stage considered especially vulnerable. The report noted that a significant portion of such businesses were founded after India liberalised its economy in the early 1990s, mirroring a similar trajectory in Mainland China.India’s ongoing intergenerational wealth transfer is also expected to be one of the largest in Asia. Citing Hurun data, the report noted that India had 334 billionaires as of 2024, nearly 70% of whom are expected to be part of a 1.5 trillion dollar wealth transfer, which is equivalent to more than a third of India’s GDP.Despite strong legacy sentiments, 45% of Indian entrepreneurs surveyed said they do not expect their children to take over the business. This reflects a growing acceptance of alternate aspirations and a willingness to let the next generation chart their own paths.The report also pointed to rising interest in professional wealth structures such as Single Family Offices. Wealthy Indian families are increasingly exploring these vehicles to diversify holdings, formalise governance, and support future generations in managing wealth, following trends already visible in Singapore and Hong Kong.