As India’s economy is growing, so is the number of family offices in the country. Today, India has over 300 family offices, up from just 45 in 2018, and the number is expected to keep rising.
These numbers are from a recently released report by PwC India, Creating holistic value for family businesses.
The report looks at five trends:
* Family offices are becoming holistic service providers, offering services beyond wealth management.
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* Seeking to diversify their portfolios and see higher returns, family offices are increasingly investing in startups.
* To become more efficient and improve their decision making, family offices are using AI and other emerging technologies.
* Family offices are expanding their investments internationally.
* Family offices’ investments are increasingly aligned with ESG factors.
The report was covered by a number of news outlets:
- India Now Has Over 300 Family Offices From 45 In 2018 With Smaller Cities In Focus: Report (AhmedabadMirror)
- Family offices diversifying their portfolios, accessing global opportunities: PwC India report (Business Today)
- Family offices surge to 300 since 2018 on Tier-II,-III push: PwC report (Business Standard)
- Family Offices Invest in Startups: PwC India Report (Rediff)
Margaret Steen is the editor of FO Pro, The Family Office Professional. Based in Silicon Valley, she has written for Family Business Magazine for more than 15 years.
