BUSINESS

The Game Changers Of Indian Economy – Ajim Premji And Shiv Nadar

indian economy

India’s outlook has moved very quickly from gloom to boom. The new federal government’s mandate for change has sparked euphoria in the stock market causing a seismic shift in Indian wealth every year. Hopefully these gains are real and will be sustained as the economy revives and India fulfils its potential.” Says the Forbes. Whether the tycoons are navigating the highs and lows, or not sure which way to turn, inspiration can always be drawn from the greatness of successful people both past and present. Now Indian tycoons Azim Premji and Shiv Nadar make their place in top 20 in the list of worlds richest tech moguls.

STARTING STEP TOWARDS HIS CAREER- AZIM PREMJI

Azim Hashim Premji born 24th July 1945 is an Indian business tycoon, investor, and philanthropist. In 1966, then 21-year-old AzimPremji returned home from Stanford University, where he was studying engineering, to take charge of Wipro. The company, which was called Western Indian Vegetable Products at the time, dealt in hydrogenated oil manufacturing but Azim Premji later diversified the company. In the 1980s, the young entrepreneur, recognising the importance of the emerging IT field, changed the company name to Wipro and entered the high-technology sector by manufacturing minicomputers under technological collaboration with an American company Sentinel Computer Corporation.]Thereafter Premji made a focused shift from soaps to software.

EDUCATION AND WORK

In 2000, he was conferred an honorary doctorate by the Manipal Academy of Higher Education. The Government of India honoured him with the title of Padma Bhushan for his outstanding work in trade and commerce.In 2006, Azim Premji was awarded Lakshya Business Visionary by National Institute of Industrial Engineering, Mumbai. In 2009, he was awarded an honorary doctorate from Wesleyan University in Middletown, Connecticut for his outstanding philanthropic work. “Success means doing the best we can with what we have. Success is the doing, not the getting; in the trying, not the triumph. Success is a personal standard, reaching for the highest that is in us, becoming all that we can be” and hence leading towards the sky like a rocket with fire he was then voted among the 20 most powerful men in the world by Asia week for his exemplary work and strategy planning and then he has been awarded Padma Vibhushan, the second highest civilian award by the Government of India in the year 2011. Then he received the ET Lifetime Achievement Award. Premji owns 73% percent of Wipro and also owns a private equity fund, Premji Invest, which manages his $2 billion worth of personal portfolio. In 2013 he gave away 25 per cent of his personal wealth to charity and has also pledged to give away the rest of 25% in the next 5 years.

CROWNS OF SUCCESS

 Premji ranks 13th on the list with a networth of $16 billion (nearly Rs 1.06 lakh crore). Premji   has been recognised by Business Week as one of the Greatest Entrepreneurs ,the chairman  of Wipro Limited, informally known as the Czar of the Indian IT Industry. He was responsible for guiding Wipro through four decades of diversification and growth to finally emerge as one of the global leaders in the Software Industry and listed top for being responsible for Wipro emerging as one of the world’s fastest growing companies.  He has twice been listed among the 100 most influential people by TIME Magazine, once in 2004 and more recently in 2011.  In 2015, Mysore University conferred an honorary doctorate on him.

LEADING STEPS FOR A NEW START- SHIV NADAR

Nadar comes in on the 17th spot with $11.6 billion (nearly Rs 77171.9 crore) of net worth. Shiv Nadar born 14 July 1945 is an Indian industrialist and philanthropist. He started his career at at Walchand group’s Cooper Engineering but eventually gave up to start his own business enterprise with his friends, the venture was Microcomp, a company which focused on selling teledigital calculators in the Indian market which was later turned into a company named HCL with an investment of Rs. 187,000.  In 1980, HCL ventured into the international market with the opening of Far East Computers in Singapore to sell IT hardware. The venture reported Rs 1 million revenue in the first year and continued to address the Singapore operations. Nadar remained the largest shareholder without retaining any management control. In 1995 he became the Dataquest IT Man of the year. In 1996, Nadar founded SSN College of Engineering in Chennai, Tamil Nadu in the name of his father, Sivasubramaniya Nadar. Nadar takes active role in the college activities including gifting of Rs. 1 million worth of HCL shares to the college. Nadar joined the Executive Board of Indian School of Business in 2005. THE HCL group founder and first-generation entrepreneur, Mr Shiv Nadar,  joined the Executive Board of the Indian School of Business (ISB).

GLOBALISATION

“The Indian economy is growing at a high rate and is already being counted among the top 10 global economies. The challenge is to create corporate managers as India becomes part of the global economy,” said Mr Nadar, adding that as a member of the board he suggested areas for increased co-operation between industry and academia to meet the fast-growing demand for corporate managers. The ISB board includes Mr Lakshmi Mittal, Mr N.R. Narayana Murthy, Mr Adi Godrej, and Mr Rajendra Pawar, he was bestowed with CNBC Business Excellence Award in the same year for his excellent contribution to the global economy and also received a honorary fellowship of All INDIA MANAGEMENT ASSOCIATIONANS and ultimately stood amongst Forbes 48 heros of philanthropy Asia in 2009.He also received a Lifetime Achievement award and manymore like the Padman Bhushan,the third highest civilian for his tremendous contribution for IT industry, was also recognised as E&Y Entrepreneur of the Year 2007 (Services)

Nadar co-founded HCL, which is reportedly mulling a US listing, Forbes said adding that Nadar also owns HCL TalentCare, a skills-development firm that provides training to new graduates. His latest venture is a $500 million (Rs 3,326.4 crore) fund to invest in startups and US healthcare tech firms.Wipro Chairman Azim Premji and HCL cofounder Shiv Nadar are the only two Indian billionaires in Forbes’ list of the world’s 100 richest people in technology. And they rank in the top 20, ahead of Google boss Eric Schmidt and Uber CEO Travis Kalanick.

They are the pride for our Indian nation who stood number one not only in their country but also worldwide.Being  focused on their journey  they  said “We  consider a goal as a journey rather than a destination. And each year I set a new goal.” 

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