Sitharaman Urges Family Firms to Plan Succession

Finance Minister Nirmala Sitharaman called on Indian family businesses to take succession planning, governance and professionalisation more seriously, speaking at an AIMA event in New Delhi. Her remarks came amid a dispute between Tata Sons and Tata Trusts over the reappointment of N. Chandrasekaran as chairman. She also urged higher private R&D spending, noting India spends 0.83 per cent of GDP.