India has the 3rd largest startup ecosystem in the world, with 2-3 startups being born everyday on an average. The government support, a large market and financial ease provided by India, makes it a hub in the world for starting a new business.
However, India is also home to conglomerates that are renowned the world over. And businesses have been recorded in Indian history since time immemorial. Today, lets look at some of these business empires in India that are the oldest, have stood the test of time and are still blossoming.
1. Wadia Group
The Wadia Group was established in 1736. This makes it, the country’s oldest conglomerate. It started with Parsi businessman Lovji Nusserwanji Wadia, who secured contracts from the British East India Company, to build over 300 ships and numerous docks. Today, Mumbai is a strategic port, all thanks to the Wadia’s.
Bombay Dyeing which comes under the Wadia group was started on a small scale in 1879. The company made yarn and undertook dyeing processes then, and is now the flagship company of the group.
Today, the conglomerate has business interests in many other sectors like Aviation, healthcare, finance, FMCG, chemicals and even owns an IPL team- Punjab Kings.
2. EID-Parry Ltd
EID Parry Ltd was established by an English trader, Thomas Parry in 1788, under the name, Parry & Co, for trading of sugar and spirits. Over 60 years, the company became the largest sugar trader and this led to them separating their spirits and sugar businesses, thus forming East India Distilleries & Sugar Factories Ltd.
The first fertilizers were made in the Indian subcontinent by this very company. The companies merged again to be called as EID Parry Ltd in 1962, and was acquired by the Murugappa Group. They are also a renowned name in the biofertilizers and nutraceuticals industry.
3. State Bank Of India
Found in 1806 as the Bank of Calcutta, it was established to fund British General Wellesley’s war against the Marathas and Tipu Sultan.
Renamed to Bank of Bengal and then the Imperial Bank of India, The State Bank of India, as it is now known, boasts of an impressive clientele like Rabindranath Tagore, Rajendra Prasad and Sir Jagadish Chandra Bose, that have held accounts in their time, in this very bank.
Currently, it is one of the largest banks in the country and the 43rd largest bank in the world.
4. RPG Group
Ramdutt Goenka laid the foundation of the business group in 1820. His nephew, Keshav Prasad Goenka catapulted the company to greater heights, acquiring Duncan Brothers and Octavious Steel. But it is R.P. Goenka who established the R.P.G Group.
Today, the company operates in many business sectors like infrastructure, energy and technology. But its flagship companies are CEAT tyres and RPG Life Sciences.
5. Aditya Birla Group
Led by Kumar Mangalam Birla today, The Aditya Birla Group was founded in 1857 by Shiv Narayan Birla. But it was G.D. Birla, a close confidante of Mahatma Gandhi, who helped the business skyrocket by setting up his business in jute. Today, the conglomerate has businesses in textile, finance, cement, mining and telecommunication along with retail as well.
6. Shapoorji Pallonji Group
The company was found as a partnership firm Littlewood Pallonji in 1865. Its first project was building the pavement at Girgaum Chowpatty. Later, it undertook projects like the Brabourne Stadium and a reservoir at Malabar Hill which supplied water to the city of Mumbai for more than a century.
Other notable projects include The Imperial in Mumbai, Jumeirah Lake Towers in Dubai and Ebene Cyber City in Mauritius.[10]
Today, the Shapoorji Pallonji empire has interests in construction, real estate, textiles, shipping, home appliances, power, publishing and biotechnology.
7.Godrej
Ardeshir Godrej established Godrej & Boyce Manufacturing Co. Ltd in 1897. The company can also be credited with launching Chavi, the first soap to be made from vegetable oil. And also, the first general elections in India used ballot boxes manufactured by Godrej.
The company deals in many verticals, ranging from aerospace & defense, chemicals, furniture and fittings, general and heavy engineering, home and personal care, IT, Security solutions, real estate, power & energy and financial services too.
