Think Marwari, think money. It is undeniable. Wealth has long defined the Rajasthan-born community. And that, inevitably, has also decided its standing in society and in industry.
But despite the assumption that all Marwaris are to the big white manor born, some are obviously far more equal than the others and wield greater influence within the community.
The differences lie beyond the numbers, although they are unequivocally the key determinant. Influence is measured by a combination of factors, and in different degrees. As RPG group Chairman Harsh Goenka puts it, “Wealth is the key factor but there are other aspects that determine influence too. These are: Integrity, philanthropic activity, culture and extent of borrowing.”
No one understands these parameters better than the insiders, so Forbes India asked three esteemed members of the community to weigh in on the business families that stand out in terms of their sway.
‘They Would Compete To Build The Biggest Temple’
‘They Have Missed The New Wave’
‘Money Has Become The Only Yardstick’
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(This story appears in the 21 March, 2014 issue of Forbes India. To visit our Archives, click here.)
Thanks to Forbes India for discussing this topic regarding a business communities\' continued success in business and finance circles. A few things that I would like to add to the above analysis by the editor . 1. Marwari\' were initially the farmer/traders in the north Rajasthan region of India and migrate primarily to Calcutta and then to all parts of the country. Though the community is not as widespread around the world as the Gujaratis but it still has made its mark in several sectors of economy. 2. Apart from the big names in business as the world\'s largest steel producer the Mittals, Birlas and Bajaj\'s there are inumerable success stories of industries in most of India\'s cities and town run by marwari families. Actually there is a chance that one in 2/3 industries in most cities or town will be run by this community outside of Gujarat.. (as Gujaraties themselves are quite successful themselves) 3. The community is indeed makings its mark in IT with most of the large industrial houses having their own IT companies, several leading e-commerce companies are headed by Bansal\'s, Shaadi.com and many other prominent websites are also run by them. Even on the bio tech front many large companies in MP manufacture medicines are run by the community. Zee TV, India\'s largest media company, Jet Airways, India\'s largest airline (after stateowned), Kedia\'s, Jindal\'s, Goyals, Mangals.. I think about 20% of India\'s listed companies would have the community as directors. 4. For those who think that the community is only successful in business one should look at the percentage of MP\'s and MLA representing their constituencies, a great number of charitable institutions are run primarily by the community from hospitals (Birla), Schools (Poddars), Dharmshalas, Ashrams (Sewadham, Ujjain, Narayan Sanstha) and temples. 5. A unique distincition of the community is it is one of the few communities in India that is vegetarian (by birth) and most members still practice vegeterianism. It has perhaps the largest proportion of its members as vegetarians in the entire world (as a community). Actually if you were to attend a marwari wedding you can safely assume (90%) of the time that the food will be vegetarian. 6. Another unique characteristics of the community is that a large number of Chartered accountants, finance professionals are marwaris. In some regions even 75% of the CA are marwaris. The academic success of marwari children can be seen the top ranking lists of various institutes. 7. It is indeed one of the most religious and spiritual community with stalwarts like Hanuman Prasad Poddar, the Birla family and the millions of other individuals who sponsor religions events and spread the philosophy of dharma in India and worldwide.
on Jan 25, 2015I am 77 years old. My father was a Marwari. I lost both parents at the age of 3 or there around. I am now desperately in search of my dad\'s linealogy. I would beg altruistic Marwaris to send me their email ID so that I may send the little known details of my dad to them in private. Denis Daniel C-13, Triveni Green Residency, Polipather, Jabalpur 482008 (MP) email: denisdaniel638@gmail.com Landline: 0761 6547111; Mobile: 09300683530
on Oct 23, 2014Interesting, but not well-researched. For example charity is not one of the strong points, nor is education in the current scenario. Unlike the Parsis, who have contributed to business, education, culture and given back hugely to India , which was not their country of origin. But perhaps Forbes needs to safeguard its advertising
on Mar 20, 2014