Business tycoon and renowned banker Uday Kotak has raised concerns about the growing tendency among young business heirs to “take the easy way” and “manage family offices and investments” instead of “creating real-world business”.
The founder of Kotak Mahindra Bank urged the young tycoons to take risks and start their business journey from scratch. “I would love to see this generation be hungry for success and build operational businesses,” said Uday Kotak at Kotak Institutional Equities’ investor conference, Chasing Growth 2025.
“Even today, I firmly believe that the next generation must work hard and create businesses rather than becoming financial investors too early,” he added.
The veteran banker warned that India’s “economic animal spirits” are fading as the next generation of business families focuses more on managing their legacy than building their own companies.
He highlighted that the trend among young tycoons became more dominant after the COVID-19 pandemic, when many of them shifted their focus on trading in “the stock market, allocating funds to mutual funds and treating it as a full-time job,” reported Times of India.
