The Agarwals

Mythologically, the Agarwals trace their origin to Agroha, a small town in Haryana,in North India and regard King Agrasena as their progenitor. A Bania subcaste, the Agarwals are made up of 18 clans, among them the Gargs, Goyals, Bansals, Mittals, Singhals and Jindals. As traders and entrepreneurs,in India, the Agarwal community,like the Chettiars of Tamil Nadu and the Moplahs of Kerala, have no mean reputation  — the community is prosperous and has proven its mercantile mettle over the centuries. Businessmen from Agarwal clans are among the wealthiest in India and include the Bharti Group’s Sunil Bharti Mittal, Vedanta Resources’ Anil Aggarwal, Naresh Goyal of Jet Airways and ArcelorMittal’s Chairman and Chief Executive Officer LN Mittal.

wealthymattersIn traditional business families from such communities, members are used to having strategy for breakfast, accounts for lunch and operations for dinner from an early age.  Even so, the extent of domination by the Agarwal community in the virtual world is astonishing.Even among trading communities, the Agarwals have proven to be especially prolific at launching e-commerce ventures.Even those with a distinguished academic record end up starting their own ventures.The who’s who of e-commerce entrepreneurs is drawn mostly from the ranks of the Agarwals. Companies run by young Agarwal businessmen, among them Flipkart, Snapdeal, Yebhi, and Myntra, account for the majority of sales by Indian e-commerce companies. And last year, for every $100 in funding for e-commerce companies, $40 went to firms founded by an Agarwal.  Read more of this post

India’s Highest Paid Male Business Executives

Just to get a perspective on things,here is a list of the highest paid male business executives in India:

# 1 Naveen Jindal – Company: Jindal Steel.Designation: Chairman & Managing Director.Remuneration (pa): Rs 672051008

# 2 Kalanithi Maran Company: Sun TV Network .Designation: Chairman & Managing Director.Remuneration (pa): Rs 644000000

# 3 Sunil Bharti Mittal-Company: Bharti Airtel.Designation: Chairman & Managing Director.Remuneration (pa): Rs 275065408

# 4 Brijmohan Lall Munjal-Company: Hero Motocorp.Designation: Chairman.Remuneration (pa): Rs 267517728 Read more of this post

Sunil Bharti Mittal and Entrepreneurship

wealthymatters.comDr.Sunil Bharti Mittal, Padma Bhushan ,was born in Ludhiana.He is a first generation entrepreneur. His father is the late Sat Pal Mittal MP.

Mittal’s first venture was making crankshafts for local bicycle manufacturers.He started in 1976 at the age of 18, with a capital investment of INR20,000 borrowed from his father.  Within three years he had set up two more plants, one that turned out yarn and the other stainless-steel sheets used for surgical utensils.

The initial days proved to be difficult and he earned very little from his businesses. But he kept at it.His businesses required him to travel a lot — sometimes, with very little in his wallet. In those days he travelled alongside his goods at the back of trucks. Travelling by air was out of the question — a train ticket was all he could afford. Hotels were out too — small hostels and clubs were what his budget allowed. He put in 16 to 18 hours each day, but his business just didn’t take off. So after mulling over other possibilities, he changed track. Read more of this post

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