Andy Mukherjee: corporate success isn’t creating the conditions India needs to become an affluent society

Go down the pecking order, however, and smaller corporate empires appear to be retreating into safer options that do not require research, innovation or heavy investments. Take Godrej Industries. It started off in 1897 as a maker of high-quality locks and later expanded into soap, food, chemicals and property development. But for its chairman-designate, the next big thing is wealth management.