Gen Next Inc – How Legacy Meets New-Age Innovation At Entrepreneur India's 2025 Summit in Delhi, the current generation of conglomerates such as the LaLiT Suri Group, Berger Paints, Inox GFL Group, shared their legacy lessons and what it takes to continue scaling established businesses in India

India's economic landscape continues to be shaped by family-owned businesses, which account for an estimated 79 per cent of the country's GDP, according to HSBC Global Private Banking's recent report.

At Entrepreneur India's 2025 Summit in Delhi, the current generation of conglomerates such as the LaLiT Suri Group in the hospitality sector, Berger Paints in the paint and coating industry and Inox GFL Group in the energy domain, shared their legacy lessons and what it takes to continue scaling established businesses in India.

The Lalit Suri Hospitality Group is one of the leading privately owned domestic hotel brands in India, engaged in the business of operating and managing hotels, palaces and resorts, with a focus on the luxury segment. At present, the Group operates 12 luxury hotels, palaces and resorts under The LaLiT brand and two midmarket segment hotels under The LaLiT Traveller brand across India's key business and leisure travel destinations.

Talking about the entrepreneurial legacy, Keshav Suri, executive director of The Lalit Suri Hospitality Group, said, "The legacy of our business is deeply rooted in the value of the Swadeshi movement. We recognize values of respect for individuals and inclusivity is ingrained in all spectrum of our businesses."

Suri is involved in the group's expansion, quality management, building marketing strategies, operations and F&B revenues. A firm believer of responsible entrepreneurship, Keshav Suri has been working with several NGOs and activists to help mainstream marginalized communities, with a mission to embrace, empower and mainstream the LGBTQ+ community.

The paints market in India is a dynamic and competitive sector, Berger Paint is the second largest company in the industry.

Rishma Kaur, chairman of Berger Paints India Limited, with more than 25 years of leadership experience in the paints and coatings industry, has been instrumental in steering the company through a period of significant transformation, blending a century-old legacy with innovation, sustainability, and global relevance.

"Its almost like we've got paint in our bodies, not blood. I went to study abroad and I was more interested in marketing and new product development, innovation, faster execution, and better efficiency," said Rishma Kaur.

She also serves on the boards of Berger Paints Bangladesh, Berger Jenson & Nicholson (Nepal & Bangladesh), Bolix S.A. (Poland), Berger Becker Coatings (India), and other joint ventures with global majors such as Nippon Paints and Rock Paints Japan. She plays an active role on committees overseeing audit, governance, risk management, sustainability, and corporate social responsibility.

Chemicals and renewable energy conglomerate INOXGFL Group, led by chairman Vivek Jain and executive director Devansh Jain, is among the fastest-growing business groups in the country.

INOXGFL Group, with a legacy of over 90 years, is a forerunner in diversified business segments comprising fluoropolymer, fluorochemicals, battery chemicals, wind turbines and renewables. It is strongly positioned as one of the most deeply integrated Groups in the green ecosystem. Comprising four listed entities - Gujarat Fluorochemicals Limited (GFL), Inox Wind Limited, Inox Green Energy Services Limited, and Inox Wind Energy Limited, the group has a market capitalization of ~ US$ 12 billion.

Devansh Jain, executive director, INOXGFL Group, initiated the group's entry into the renewable energy sector with the incorporation of Inox Wind. Under his leadership, Inox Wind has grown to become one of the largest and most successful renewable energy companies. He was instrumental in overseeing the listing of Inox Wind in 2015 and spearheaded the listing of Inox Green, the world's first listed independent wind O&M company, in 2022 on the Indian stock exchanges.

Talking about legacy, he said, "All early memories were always about dad working all the time and numbers being discussed, new ventures being planned. It was always about understanding how chemical complexes operate, building new ventures, numbers, ambition, drive, resilience. These are the words which have played around with me since I've started to comprehend business. My exposure to a large conglomerate has helped me get a vision of what I wanted to build on my own."