Next-gen must build businesses, not just invest: Mariwala

Business families should engage the next generation in entrepreneurship early, while also allowing them to pursue interests such as working with startups, facilitating unlisted deals, and philanthropy, said Harsh Mariwala, chairman of Marico Ltd.

- Suneera Tandon

"It's very important for the family elders to create the right culture among youngsters to inculcate value about business...it means taking youngsters to factories, to marketplaces—I do it with my grandchildren," Mariwala said, speaking at the Mint India Investment Summit in Mumbai on Saturday. "The second thing is to ensure that just because you are born in a business family you don't have an entitlement mindset where you assume you will automatically go into a leadership role...I believe simplicity is required for youngsters to grow up; you can not give everything on a platter. They have to put in the hard work to succeed," he a