Business Families
Family businesses are enterprises where management and ownership primarily involve multiple generations linked by blood, marriage, or adoption. This multi-generational involvement shapes the organization’s mission, governance, and long-term strategy. As vital components of the global economy, family businesses constitute over 60% of companies in Europe alone, demonstrating their substantial role in providing jobs, fostering innovation, and driving economic development. The unique dynamic within these businesses often reflects personal relationships alongside professional responsibilities, creating both opportunities and challenges, particularly in areas like **business succession**, governance, and **family wealth management**. In recent years, the landscape of family businesses has evolved to embrace broader family definitions, integrating non-traditional structures and multi-generational households. This shift necessitates the development of inclusive governance frameworks, such as family constitutions, to effectively manage complexities and conflicts that can arise. Additionally, family offices are gaining prominence, focusing on wealth management while supporting investments in **Environmental, Social, and Governance (ESG)** initiatives, technology, and sustainability. This evolution marks a shift from purely profit-driven models to a more purpose-driven approach, appealing to the values of younger generations. Despite facing modern challenges like economic fluctuations and talent shortages, family businesses continue to seek sustainable growth through digital transformation and innovation, making them relevant players in today's market landscape.
How did the Khimji family establish themselves in Oman?
The Khimji family's establishment in Oman began with the speaker's great-grandfather, who was a Dhow captain sailing between India and Africa transporting spices. During one of his voyages, he stopped in Muscat, Oman for provisions like food and water. Instead of continuing his journey, he made the life-changing decision to remain in Oman, instructing his crew to continue without him. This spontaneous decision in the late 1800s marked the beginning of the Khimji family's presence in Oman, eventually growing into one of the prominent Indian-origin merchant families in the country.
Watch clip answer (00:20m)
WION
01:05 - 01:26
What significant milestone in India-Oman relations is being celebrated this year?
This year marks the celebration of 70 years of diplomatic ties between India and Oman. To commemorate this important milestone, a special logo was released during Indian Foreign Minister S. Jaishankar's visit to Oman. This celebration highlights the long-standing and enduring relationship between the two nations. The relationship includes significant contributions from the Indian diaspora in Oman, particularly families like the Khimjis who trace their roots to Gujarat and have been in Oman since 1870, playing an important role in strengthening bilateral relations through commerce and cultural integration.
Watch clip answer (00:11m)WION
03:09 - 03:21
How has the Khimji family maintained their connection to India while building their legacy in Oman?
The Khimji family has maintained strong ties to India, particularly with Mumbai, where many family members have studied. Their 150-year-old legacy was built by successive generations including Kokal Das Khimji, Matra Das Khimji, Kanak Bhai Khimji, and continues today. This enduring connection represents the broader pattern of Indian expatriates who have integrated into Omani society while preserving their cultural roots. The family exemplifies how Indian-origin people have progressed and contributed to Oman's development while maintaining meaningful connections to their homeland.
Watch clip answer (00:27m)WION
01:46 - 02:13
How has the Indian diaspora contributed to Oman and what is their historical connection to India?
The Indian diaspora has made rich contributions to Oman, with many merchant families of Indian origin establishing themselves as integral parts of Omani society. These Indian-origin Omanis have maintained strong connections with India while making Oman their home. The clip specifically highlights the story of families like the Khimjis who migrated from Gujarat to Muscat, representing the enduring bond between the two nations. Their presence has strengthened diplomatic ties between Oman and India, with the community playing a significant role in Oman's economic and social fabric for generations.
Watch clip answer (00:19m)WION
00:00 - 00:20
What is the origin of the Khimji family and how did they become prominent in Oman?
The Khimji family, one of the most prominent business families in Oman, traces their roots to Mandavi in India's Gujarat, specifically from the coast of Kutch. The family's journey began when their patriarch Kimji Ram Dass arrived in Oman in 1870, establishing what would become an influential business presence in the country. Their story represents the rich legacy of Indian expatriates in Oman who successfully integrated their culture while contributing significantly to Oman's socio-economic landscape. This family exemplifies the strong Indo-Omani ties that have developed over the last 70 years.
Watch clip answer (00:11m)WION
00:26 - 00:37
How does Anil Khimji feel about the treatment of Indian diaspora by Oman's leadership?
Anil Khimji, a member of a fourth-generation business family in Oman, expresses deep gratitude toward both the former and current sultans of Oman for their generosity toward his family and the broader Indian diaspora in the country. As Oman celebrates 70 years of diplomatic relations with India, his sentiments highlight the positive relationship that has developed between the two nations. His appreciation underscores how Indian expatriates, particularly those from Gujarat's Kutch region like the Khimji family, have been welcomed and allowed to integrate into Omani society, contributing to the social and economic fabric of the nation while maintaining their cultural identity.
Watch clip answer (00:08m)
WION
01:04 - 01:13