4 Lessons From Stalwarts In Indian Entrepreneurship India is the world's largest democracy, and its economy has been growing rapidly over the past few decades. As a country, it also holds the second-largest native population behind China. Not surprisingly, India has produced a number of billionaire entrepreneurs.
By Kavya Pillai
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India is the world's largest democracy, and its economy has been growing rapidly over the past few decades. As a country, it also holds the second-largest native population behind China. Not surprisingly, India has produced a number of billionaire entrepreneurs.
Although there are still many who live in poverty due to India's high levels of income inequality, the country has maintained a long tradition of entrepreneurship and wealth creation.
1. Dhirubhai Ambani
"Pursue your goals even in the face of difficulties and convert adversities into opportunities."
Dhirubhai Ambani (1932–2002) is an Indian businessman who started out humbly by selling traditional snacks to religious pilgrims. His business soon grew, and he expanded and diversified into industries including telecommunications, power generation, information technology, consumer goods, and logistics.Today, Reliance Industries is India's largest private company and is listed on the Fortune 500. Ambani's son now runs Reliance and is one of India's wealthiest people; Mukesh Ambani, 65, is worth $92.5 billion, according to Forbes.
2. Jehangir Ratanji Dadabhoy Tata
"Never be Satisfied with the Second Best"
JRD Tata chased perfection in all that he did. There are so many incidents to cite for his dedication to excellence. During the 40s and 50s, Air India was known for its punctuality and hospitality. JRD himself flew aircraft of the airline once every 15 days. Jehangir Ratanji Dadabhoy Tata or JRD Tata (1904–1993) was born in Paris to Indian and French parents. He was trained as an aviator in Europe and later became India's first commercial airline pilot. Working for the family business, TATA group, he set out on his own and built TATA Airlines, which ultimately became the modern Air India.By the time of JRD Tata's death, TATA owned nearly 100 different businesses across many industries.
3. Nagavara Ramarao Narayana Murthy
"Always have your feet on the ground"
Nagavara Ramarao Narayana Murthy, age 75, is an Indian entrepreneur who co-founded IT giant Infosys (INFY) with an initial investment of 10,000 rupees, or just a few hundred dollars in today's terms.With a net worth of $3.6 billion, he is often referred to as the father of the Indian IT industry, serving as CEO of Infosys from 1981 until 2002, and then its chair until 2011. As of March 2022, Infosys has a market capitalization of around $104.7 billion.
4. Ghanshyam Das Birla
"Business is learnt by doing business."
Ghanshyam Das Birla (1894-1983) is a well-known Indian businessman who started his first company in the early 1900s operating a cotton and textile mill. By 1919, Birla's businesses also included significant paper and sugar production. By the time he died, Birla Group was a multi-sector global conglomerate.His great-grandson Kumar Mangalam Birla, 54, now runs the company and commands a net worth of $14.3 billion.
