Handing the business to the next generation is the most common intention among Indian owners, and the most commonly unplanned.
Many successors have never been asked directly. Ask what they want, what they fear and what they would change. Interest, capability and timing are three separate questions; a yes to one is not a yes to all.
A child can own shares without running the business, or run it without owning it yet. Decide both deliberately. A shareholder agreement and a short family charter prevent most later disputes.
If customers, suppliers and the bank deal only with you, a successor inherits a title but not the relationships. Transfer them over 24–36 months, one at a time, while you are still there to repair mistakes.
Equal is not always fair. Insurance, non-business assets or a staged buy-in can balance inheritance for children who are not involved, without splitting control of the company.
Successor readiness and owner dependency are scored separately, so you can see whether the gap is in the person, the business, or both.