Modi Group

CORPORATE VISIONARY

Dr. B. K. Modi: Ahead Of The Time

One of India’s first visionary techno-entrepreneurs, Dr. B. K. Modi is credited with building some of Asia’s most successful joint-ventures with global giants. 

Dr. Bhupendra Kumar Modi, an Indian-origin Singaporean businessman, social entrepreneur and philanthropist, capitalised on the opportunities created by liberalisation of Indian economy in the early 1990s. He played a major role in pioneering the technological transformation of India by tying up with Xerox, Alcatel, Telstra, and Olivetti. He played a strong leadership role at the global level in building bridges of friendship between nations. As an innovator with great foresight he helped put India on the global hi-tech map.

Dr. Modi was born to Raibahadur Gujarmal Modi and Dayawati Modi in a small town, Modinagar in India in 1949. He has a Master's in Chemical Engineering from the Indian Institute of Technology (IIT-BHU). He earned an MBA from the University of Southern California, US. Also, he has a PhD in Financial Management. Known for his unconventional wisdom, he has emerged as a truly global citizen and entrepreneur. He has offices spread across the globe, including in London, Los Angeles, Shenzhen, Dubai, Singapore, Kuala Lumpur and New Delhi.

Dr. Modi is the founder-chairman of Smart Group and the Global Citizen Forum. He has been instrumental in fostering Indo-international collaborations. He established India's first office automation and telecom equipment manufacturing facilities through joint-ventures with global giants, such as Continental, Xerox, and Alcatel. He also launched the country's inaugural cellular service through Modi Telstra, and Spice Communications. Transitioning from telecom, Dr. Modi ventured into wellness and healthcare in 2015, with an aim to develop comprehensive wellness communities and platforms. Moreover, his philanthropic efforts brought about the Global Citizen Forum, which advocates unity beyond societal divides.

The Odyssey 

In 1975, as part of Modi Rubber, Dr. Modi made the first foray into Indo-International collaborative business in tyres with Continental, Germany. In 1981, he established Graphics India, which became the sole distributor of Rank Xerox copiers. This initiative led to the establishment of Modi Xerox in 1983 as a joint-venture with Xerox by setting up India's first office automation products manufacturing facility at Modipur in Uttar Pradesh.

In 1987, Dr. Modi tied up with Italian computer firm, Olivetti. Thus, Modi Olivetti became the first Indian joint-venture to manufacture advanced personal computers and floppy disks. He also entered into a joint-venture with Alcatel in 1992, which established Alcatel Modi Network Systems. It was the first Indian private sector company to manufacture telecom equipment and export digital switching systems, as well as to set up a GSM network in India. In the following year, Modi Telstra, became the first company to launch cellular services in India. Also, it received the first Telecom Engineering Commission Certification of Quality. It was a moment of pride for India when the inaugural mobile call was made in July 1995 on the Modi Telstra network by former chief minister of West Bengal Jyoti Basu to Sukh Ram, the then Union communications minister. In the following few years, Dr. Modi formed Spice Communications, a joint-venture with Telekom-Malaysia (now Axiata). The company became the leading telecom operator in North and South India. In 2000, he established Cellebrum (now Spice Digital), a mobile value-added services company for telecom operators. Thereafter, he founded Spice Hotspot, the first Indian mobile retail chain in 2004. Spice Mobiles was one of the earliest manufacturers of Indian-branded handsets. 

However, in 2008, Dr. Modi exited the telecom business in a deal with Idea Cellular, which was the fourth-largest mergers and acquisitions deal of the time involving an Indian entity. In 2009, Dr. Modi acquired a major stake in i2i, a listed company in Singapore Stock Exchange, which was renamed S-i2i. However, it was later rechristened as Sevak Ltd., and thereafter it became Digilife Technology Ltd. It is a listed company, with headquarters in Singapore. It operates largely in the business segments of Telecommunications and Technology in Southeast and South Asia. Digilife Technology has reinvented itself to keep pace with social, cultural and technological developments that have transformed Asia.

In 2013, Dr. Modi diversified into the healthcare business, setting up Saket City Hospitals, Delhi, wherein he invested Rs 300 crore. The hospital originally had 250 beds, which was reportedly upgraded later to a 350-bed facility at an investment of Rs 350 crore in 2016. Since 2019, Dr. Modi has been Global Chairman of the Foreign Investors India Forum (FIIF). The FIIF is an initiative that is supported by global affiliates and domestic chambers of commerce for promotion of foreign investments into India.

Group's Five-Year Plans

Modi Group, formerly known as B. K. Modi Group, has plans to invest Rs 6000 crore over a five-year period in two real estate projects. The group will invest Rs 4000 crore to develop a health city in Saket, Delhi, and Rs 2000 crore in city development projects at Modipur, Uttar Pradesh. Besides, it plans to invest Rs 2000 crore in overseas projects. The group also entered into a partnership with Miami-based real estate firm, The Lynd Company, for the development of residential buildings in Miami, Florida, US, as well as in Saket, Delhi, India, under a single global brand.

In recognition of Dr. Modi's success and influence he was included in "Singapore's 50 Richest List" by Forbes in 2013. This achievement marked a significant milestone in his entrepreneurial journey. In the same year, he made a strategic decision to rebrand his company by dropping the 'Spice' name in favour of 'Smart.' He soon made a foray into the entertainment industry by co-producing the film, OMG! in 2012. Also, he produced the tele-serial, Buddha, in 2013, thereby showcasing his creative pursuits.

Bestowal of Title, Raja-Rishi

Dr. Modi was bestowed with the title of Raja-Rishi on the occasion of his 74th birthday in 2023. The honour finds its origins in the Hindu holy book, The Ramayana. It was bestowed by Anant Shri Vibhushit Jagadguru Shankaracharya Dwarka Sharada Peethadhishwara Swami Shree Sadanand Saraswati Maharaja. Raja-Rishi, which means a ‘royal sage' is used to describe a person who has attained all material possessions, but has a high level of spiritual knowledge that enables him to remain detached. This title was given in acknowledgement of the life and work of Dr. Modi, who has been known as the ‘Man of Many Firsts’ for bringing several new technologies that revolutionised the digital landscape of India.

Dr. Modi's entrepreneurial spirit led him to found several notable companies: 

• Smart Group of companies
• Graphics India 
• Modi Xerox 
• Modi Olivetti Alcatel 
• Modi Network Systems 
• Modi Telstra 
• Spice Communications 
• Cellebrum (now Spice Digital) 
• Spice Hotspot 
• Spice Mobiles 
• S-i2i (Sevak, Digilife Technology)

Awards And Honours

• 1997: Dr. Modi was elected chairman of the Cellular Operators Association of India.
• 2000; He was appointed as the coordinator for Indian subcontinent for Millennium World Peace Summit by United Nations.
• 2004: The US House of Representatives issued a proclamation in appreciation of Dr. Modi's efforts to promote deeper understanding between the countries, and congratulated him on his innovations and humanitarian efforts worldwide.
• 2009: He received a special commendation from the then Singapore Minister-Mentor Lee Kuan Lew on the occasion of the fifth anniversary of the Lee Kuan Institute of Public Policy.
• 2013: 'Ambassador of Peace Award' conferred upon him by the Universal Peace Foundation.
• 2015: 'Lifetime Achievement Luminary Award' was given to him by Channel News Asia, Singapore.
• 2017: 'Entrepreneur of the Year Award' was given to him by Singapore Indian Chamber of Commerce.
• 2018: He received 'Global Thought Leader for Global Peace Award' from Stardust.
• 2019: He was appointed the Honorary President for World Federation of United Nation Associations.
• Spice Global is a multi-faceted technology group, with current valuations exceeding $5 billion and gross revenues in excess of $2 billion.

Dr. Modi is married to Veena Modi, and together they have three children. His family has been a constant source of support throughout his remarkable career and philanthropic endeavours. He believes that education is the vital element for the development and progress of any country. The quality of education, according to him, also determines the quality of the nation. 

(Photo: Courtesy Company Site)

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