By-Sumit Pathak CEO linus International FZCO
Entrepreneurship in India has become a national conversation—but it is incomplete without acknowledging a critical and often overlooked pillar: legacy businesses.
In the rush to celebrate first-generation startups, pitch decks, and unicorns, we’ve quietly sidelined the significance of Indian enterprises that were built brick by brick over decades—often by fathers and grandfathers who never heard the word “startup” but understood scale, cash flow, and customer reputation in its most tangible form.
As someone who inherited and expanded a family business that started with construction scaffolding in Dubai and now spans real estate, project exports, and cross-border manufacturing, I’ve learned this firsthand: in India, entrepreneurship is not always something you start—sometimes, it’s something you inherit. And taking it forward is non-negotiable.
Legacy Is Not a Backward Idea—It’s a Backbone
For decades, Indian entrepreneurship was synonymous with family-run ventures—whether in textiles, exports, logistics, construction, or wholesale trading. These businesses may not make front-page headlines, but they employ millions, pay taxes reliably, and hold the keys to India’s middle-class wealth.
The mistake we’ve made is assuming that legacy equals complacency. In truth, legacy businesses that don’t evolve die. But those that do—those that merge old-school reliability with new-age thinking—are among the most capital-efficient, resilient entities in India today.
And increasingly, I see a pattern: many successors are coming back. After a stint in a global job or a business school, they’re returning to the family business with fresh eyes—some reluctantly, some curiously, but many realizing the immense potential waiting to be unlocked.
Indian Entrepreneurship: It’s Not Either/Or—It’s “And”
Yes, the post-liberalization era catalyzed a new wave of startup activity. Yes, India’s tech ecosystem is maturing, with SaaS unicorns and venture-funded disruptors reshaping sectors from fintech to agritech. And yes, programs like Startup India and Digital India have helped democratize access to capital, knowledge, and mentorship.
But this does not mean legacy is outdated.
In fact, it means the next level of entrepreneurship in India must be hybrid: a blending of founder energy and family wisdom; of digital acceleration and asset discipline.
If India is truly to become a $5 trillion economy, this convergence must be encouraged—not separated. The son or daughter returning to restructure the family’s garment factory or construction firm is just as entrepreneurial as someone launching a new AI-driven platform.
The Real India Operates Offline
We often forget that beyond India’s tech parks and co-working spaces, there exists another India—the one that operates on truck routes, in mandi sheds, on factory floors, and at the back offices of ports and municipal sites.
This is where true entrepreneurship is tested—not just in valuation, but in survival.
In this version of India, your logistics vendor may not have a LinkedIn page, but he controls the reliability of your entire delivery system. Your supplier may not understand equity dilution, but he’ll extend ₹2 crore in rolling credit with a handshake and 20 years of trust.
These are not legacy constraints—they’re legacy strengths. If modern Indian entrepreneurs learn to digitize without dehumanizing, and automate without forgetting ability, we may unlock the most powerful version of enterprise this country has ever seen.
The Successor’s Dilemma—and Opportunity
Today, tens of thousands of mid-sized businesses across India face a generational shift. The founders are ageing, the systems are outdated, and the next generation is unsure whether to step in or walk away.
My message to them is clear: step in—but step in with clarity, not ego.
Don’t dismiss what was built before you. Improve it. Systemize it. Digitize the s, upgrade the procurement flow, make the brand feel relevant—but keep the cash discipline, the asset prudence, and the vendor loyalty intact.
Taking over isn’t about carrying a burden—it’s about taking the business to a place your predecessors couldn’t, simply because the tools didn’t exist back then.
A Nation Built on Continuity
India’s future lies in continuity—not just disruption.
Our challenge is not a shortage of ideas, but a shortage of execution across generations. If we treat legacy businesses as museums, they’ll die. If we treat them as platforms, they’ll scale.
The story of Indian entrepreneurship is not one of replacement—but of reinforcement. Let the young entrepreneur pitch to VCs, yes. But also let him walk through his grandfather’s warehouse and learn how margin is made in the real world.