As an international company, it represents India on the global map of technical giants. The company is the biggest hope for computer science students fresh out of college in India. While India does not have its own Alibaba (China) and Google, Facebook, and Twitter (USA), Infosys is a jewel in India’s tech crown.

Wipro

Wipro Limited is an Indian multinational provider of information technology, consulting services and business processes. In terms of total revenue, it ranks 29th among Indian companies as per Fortune 500 India. It is the ninth-largest employer in India, with approximately 195,000 employees.

Mohamed Premji founded Wipro in 1945 in Amalner, Maharashtra, as “Western India Products” and was later changed to “Wipro”. It was initially established as a producer of refined vegetable oils in Maharashtra under the brand names Kisan, Sunflower, and Camel.

In February 2002, Wipro became India’s first technology and software services company to achieve ISO 14001 certification. In 2008, the group entered the clean energy industry with Wipro Eco-Energy. 

Hindustan Vanaspati Manufacturing Co – Hindustan Unilever

The era of Fast Moving Consumer Goods (FMCG) marketing began much sooner in India than in many other Asian nations. Today’s famous household names like Lifebuoy (launched in 1895), Pears, Lux and Vim, and Vanaspati Dalda ((1937) have a long history.

In 1931, Unilever, a British multinational consumer goods company, established its first subsidiary in India – Hindustan Vanaspati Manufacturing Company, followed by Lever Brothers India Limited (1933) and United Traders Limited (1935). The three companies merged into Hindustan Unilever (HUL) in November 1956.

Today, HUL is the market leader in consumer goods in India and covers more than 20 consumer categories such as soaps, teas, detergents and shampoos. More than 700 million Indian consumers use its products. 

State Bank of India (SBI) 

The State Bank of India (SBI) is an Indian bank and financial and legal services organisation based in Mumbai, Maharashtra. SBI is the 43rd largest bank globally and ranked 221st on the Fortune Global 500 list of the world’s largest companies in 2020. It is the only Indian bank on the list.

SBI has a rich legacy of over 200 years and has been recognised as a trusted bank for generations by Indians. With around 250,000 employees, it is also the fifth-largest employer in India. SBI has earned the trust of its customers by developing highly relevant products and services, maintaining transparency in dealing with customers, and providing them with easy access to these products and services.

Her aunt walked into the room and saw her in a critical condition. She rushed her to the hospital and, thus, saved her life. The incident became a watershed moment for her. At 16, she came back to Mumbai to live with her uncle. 

She started by making less than a dollar (Rs. 50) a month by sewing and tirelessly learning how to operate industrial sewing machines. As a result, she saw her salary rise. But the money she made was not enough to pay for her sister’s treatment which could have saved her life, an incident that defined Kalpana’s entrepreneurial spirit.

The Tragic Making of ‘Entrepreneur’ Kalpana Saroj

Money was always scarce for Kalpana. Amidst an already financially thin situation, her youngest sister fell ill. Her family could not afford the treatment. Despite scrounging everywhere for help and resources, she could not be saved. This incident made Kalpana realise the value and necessity of money more than ever. She came to the realisation that life without money was worthless and she was going to earn lots of it. She began working sixteen hours a day, a habit which she still maintains.

The next stage of her life was no different from the already escalating problems and challenges, but this time she was prepared. In the mid-1990s, after working in a hosiery shop for several months, she decided to open her own shop. While working, she often listened to the radio. There, she heard about various government programmes on the radio and subsequently applied for a loan under the Mahatma Jyotibhai Phule scheme. She used this little seed money of Rs. 50,000 to start a small furniture business and sold cheap imitations of luxury furniture from Ulhasnagar, Thane. On the other hand, she continued her sewing business.

When she started making some profits, along with the money from the grant, Kalpana founded an NGO that is now the Kalpana Saroj Foundation. After suffering from the pain of not finding a job despite numerous attempts, she wanted to save as many people as possible from this employment crisis.

Around the same time, an individual offered to sell her a disputed land at a discounted price of Rs. 2,50,000. After the case and litigation were resolved, the land value soared to Rs 50 lakh, paving the way for Kalpana’s entry into the construction industry in Mumbai.

The strange case of Kamani Tubes

Ramjibhai Kamani, a prominent businessman in the newly independent India, was a great admirer and disciple of Mahatma Gandhi and Jawaharlal Nehru. After independence, he came to Kurla and set up three companies: Kamani Tube, Kamani Engineering and Kamani Metal. Everything was a fortune for him with these industrial enterprises.

But shortly after his death in 1987, a quarrel broke out between his sons and the workers’ union. The union then went to court and asked for a transfer of ownership to the workers because the owner’s behaviour was contrary to the company’s interests. Subsequently, Kamani became the first Indian company whose license was granted to the workers union by the Indian Supreme court instead of the founder’s heirs.

But if there will be three thousand owners, who will do the actual work? 

This inevitable self-conflict soon erupted into a crisis in the company. Union leaders had no interest in the company; they just wanted to make a quick buck. As part of the reforms during the time, the company was inundated with loans, renewals and credits from banks. The government also provided them with various resources and services. As a result, they had a huge capital, but no one had the experience to use these resources for the company’s welfare and growth.

Thus, from 1987 to 1997, the company continued to survive one way or another. But as soon as the investors realised what had happened with the money invested as part of the reforms and credit, they came down heavily. Authorities stopped electricity and water supplies for Kamani industries. 140 cases were filed against the company, and it owed Rs. 116 crores to investors. Of the three Kamani companies, two had already gone under. The third, Kamani Tubes, appeared set to go down the same rabbit hole. 

At that time, the workers came to Kalpana Saroj, imploring her to save their company and, thus, their livelihood. Her flourishing NGO and business acumen had earned her a decent reputation among business circles. Her knowledge about the industry was not much, but the thought of 566 starving families made her help the distressed company. She had nothing to lose, and the rest is history. 

Turing Fate Around – the Kalpana Saroj Way

She took the company’s reins in her hands and formed a core team of ten, each an expert in their respective fields. Then she hired some consultants and created a proposal on how to go about fixing the damage. When Kalpana took her recommendation to the board made up of several IDBI and bank representatives, they agreed to go ahead on the condition that she sits on the board and undertake the responsibility of all liabilities. She agreed and was appointed company president in 2000.

From 2000 to 2006, Kamani Tubes ran in and out of courts. After numerous high-level meetings, requests, and diplomatic considerations led by Kalpana, the penalty and interest amounts imposed on the company were eventually forgiven, and 25 per cent of the principal amount was also deducted. Courts almost halved the company’s debt as compared to the original sum. In 2006, for leading the company out of a literal existential crisis, Kalpana Saroj was appointed as the Chairperson. The court transferred ownership of Kamani tubes to her. 

In restarting the company and shedding the past weight, Kalpana and her team needed to focus on revamping manufacturing and getting the firm back on its feet. They started by replacing all the machinery which either had been stolen or fallen to disrepair. In 2009, they shifted the factory to Wada, and the company began its uphill path from there. 

Today, Kamani Tubes is a growing business worth more than $100 million. Moreover, according to numerous estimates, Kalpana has a personal net worth of $112 million.