Priyavrata Mafatlal Opens Up On Legacy Leaders And 121 Years Of Legacy: 'If We Do This Right, We’ll Be Around For 200 Years'

The Arvind Mafatlal Group, in association with Network18, have started an initiative called Legacy Leaders, a national platform dedicated to celebrating those building a resilient India. The initiative will honour individuals who showcase values of consistency, innovation, purpose, future readiness and community building. 

In his interview with CNBC TV18, Priyavrata Mafatlal, Vice Chairman, Arvind Mafatlal Group, spoke about the thought behind the initiative, what legacy means to him, the values that have guided the group across generations and the importance of balancing accountability with a human approach.

Priyavrata Mafatlal said, “We have always celebrated people who have helped in nation building, either silently or in a way which people would know about. The country has been built around those stories. Today, India is at a very interesting juncture. We are one of the fastest-growing nations. We’ve been around for more than a century and have seen the ups and downs of the country and of ourselves. What’s important is to have the resilience, the firepower and the ability to build something that we could outlive. My grandfather used to often say that always build an institution that outlives an individual. That’s the goal of finding individuals who are creating little pockets of legacy today, which would perhaps outlive their time.”

The word ‘legacy’ assumes lot of significance in this initiative. Priyavrata Mafatlal explained what it means to him, “Legacy is a combination of longevity, impact and transparency. Even emotions play a part – how you can make the other person feel. I am a fifth-generation entrepreneur. We have tried to ensure that certain values remain consistent across the generations. Then you improvise as and when the environment changes. But we are very careful not to lose the goodwill that we have earned and the impact that we have been able to create, at a business level and a philanthropic level. For example, one trait that is very important to me, my father and even my grandfather is treating people fairly. Relationships matter, perhaps even more than business. That is one of the ways we have tried to keep our value system intact. All of those combines itself to the word ‘legacy’. We have been around for 100 years. If we do this right, we’ll be around for 200 years.”

Priyavrata Mafatlal also shed light on the non-negotiable aspects of running a business. He said, “Today, more than ever, accountability in business is extremely important. It is equally important not to allow complacency to creep in. When we focus too much on the EQ of an individual or an organization, there is a risk of becoming a ‘soft manager’ and allowing mediocrity to set in. That is why we ensure that accountability remains paramount, without losing the human aspect. It is a very fine balance, but it is important to clearly communicate to the entire organization, as well as to our partners, customers, shareholders and everyone impacted by us, what we stand for. We believe in transparency; we set clear expectations and if those expectations or basic standards are not met, we will need to address it. At the same time, throughout this journey, I will continue to approach people with empathy and humanity. Today, competition is extremely intense and we cannot afford to falter or become complacent. Hence, we need to continuously improve both our people and our processes. I need to ensure that I keep pushing the business forward, but without losing our DNA.”

Published on: Wednesday, September 02, 2026, 04:43 PM IST