How India’s family offices are evolving into long-term wealth institutions

In this episode of Family Offices in India, we are joined by Umang Papneja, CEO, Julius Baer India and Shagun Baid Jain, Co-founder, Baid Tech Ventures, to discuss how Indian family offices are navigating a period of significant transition driven by intergenerational wealth transfer, expanding asset classes and increasing regulatory expectations. The conversation reflects on how next-generation leaders are redefining priorities from returns-led investing to governance-first focus while building resilient, future-ready structures. 

They highlight the importance of governance frameworks, disciplined asset allocation and institutional processes becoming central to family office success. The conversation also examines how family offices are gradually diversifying into private equity, venture capital and private credit, balancing opportunity with risk, and leveraging domestic and global structures such as GIFT City to support long-term objectives.

Key takeaways

• Indian family offices are shifting from opportunistic investing to structured, institution-like governance models.
• Strong governance frameworks help decision-making and enable continuity across generations.
• Asset allocation is expanding into alternatives, with cautious but growing exposure to private markets.
• The next generation is accelerating change through greater comfort with diversification and professional advisory models.
• Hybrid operating models with lean in-house teams supported by external specialists are emerging as the preferred approach.
• Preparing early for evolving regulatory and disclosure expectations is strengthening long-term resilience.