Lakshmi Mittal, ArcelorMittal

Man of Mettle

Lakshmi Niwas Mittal, who is at the helm of ArcelorMittal, the world's second-largest steel producer, is widely considered synonymous with the global steel industry. His legacy goes beyond his accomplishments in the steel industry through the LNM Foundation. 

The World Steel Association (WorldSteel) in its October 2024 report of the short range outlook (SRO) for FY24 forecast that the global steel demand would dip further by 0.9% to 1751 million tonnes. However, after three years of decline, WorldSteel is expecting a broadbased recovery globally, except China, in 2025. Demand for steel is forecast to rebound by 1.2% in 2025 to reach 1772 million tonnes globally.

According to Dr. Martin Theuringer, Managing Director, German Steel Association and Chairman of the WorldSteel Economics Committee, observed: "The year 2024 was a difficult period for global steel demand, as the global manufacturing sector continued to grapple with persistent headwinds, including decreasing household purchasing power, aggressive monetary tightening and escalating geopolitical uncertainties."

Despite the challenges, such as lingering effects of monetary tightening, higher costs, limited affordability and geopolitical uncertainties, WorldSteel is optimistic that global steel demand would enter a moderate growth phase in 2025. The global market for steel was estimated at 1.8 billion metric tonnes in 2024. It is projected to reach 2.2 billion metric tonnes by 2030, clocking a CAGR of 2.9% from 2024 to 2030. 

Lakshmi Mittal

Lakshmi Mittal is considered synonymous with the global steel industry. His role in building ArcelorMittal, the world's largest steel company, is attributed to his aggressive acquisitions and strategic leadership. He is looked up to for his role in reshaping the global steel industry. Thanks to his vision for the growth of the industry, he successfully transformed what was once a balkanised and localised industry into a more integrated global sector.

Lakshmi Mittal, a global businessman who serves on the boards of various advisory councils, is also a philanthropist engaged in children's health and education. He is a citizen of India but resides in the UK to helm his vast business.

Mittal Roots

Lakshmi Mittal was born into a Marwari Hindu family in Sadulpur, Rajasthan, India, in 1950. The family eventually moved to Kolkata. Subsequently, his father Mohanlal Mittal set up a steel mill, Nippon Denro Ispat, in 1976. Laxmi studied at Shri Daulatram Nopany Vidyalaya, Kolkata. He pursued his B.Com. at St. Xavier's College, affiliated to the University of Calcutta. Due to restrictions placed on steel production by the then Indian government, young Laxmi opened his first steel factory, PT Ispat Indo, in Sidoarjo, East Java, Indonesia. In 1989, Mittal purchased the loss-making state-owned steel works in Trinidad and Tobago. In a year's time he turned them into profitable ventures.

Until the 1990s, the Mittals' main assets in India were a cold-rolling mill for sheet steels in Nagpur and an alloy steel plant in Pune. Today, the family business, including a large integrated steel plant near Mumbai, is run by his younger brothers Pramod Mittal and Vinod Mittal. In 1995, Laxmi Mittal purchased the Irish Steel plant based in Cork, Ireland, from the government, but it was closed down after a few years. Subsequent environmental issues at the site drew flak. 

In 2001, Mittal acquired an existing business, which he renamed Ispat Mexicana, while he bought another unit, Ispat Katmet, in Kazakhstan. Shortly thereafter he renamed Sidex Galati to Ispat Sidex, which he had acquired in November 2001. In the late-2003, LNM Group concluded the $155-million transaction to take over the control of steel assets, Siderurgica Hunedoara and Petrotub Roman. Thereafter, it also took over the Polish PHS Steel Group. In 2007, Lakshmi Mittal made a hostile takeover of Arcelor, which he renamed ArcelorMittal. In the process, he obtained control over the Usinor of France, the Arbed of Luxembourg, and the Aceralia of Spain.

ArcelorMittal 

ArcelorMittal, an integrated steel manufacturing company, headquartered in Luxembourg, manufactures and markets a range of finished and semi-finished steel products. The product portfolio consists of flat steel, including sheet and plate, and long steel, including bars, rods, and structural shapes. Also, it produces pipes and tubes for various applications, and mining products, including iron ore lump, fines, concentrate and sinter feed, coking, pulverized coal injection (PCI) and thermal coal. The company is engaged in iron ore and coal mining operations in the Americas, Europe, Asia and Africa. The company markets steel products largely in local markets and through centralized marketing to customers in appliance, automotive, construction, engineering, and machinery sectors. 

ArcelorMittal is ranked second on the list of steel producers. It reported an annual crude steel production of 78 million metric tonnes in 2023. However, In 2024, ArcelorMittal's crude steel production reached 57.9 million tonnes, a 0.3% decrease compared to 2023, while iron ore production increased by 0.9% to 42.4 million tonnes. lt generated a sales revenue of around $62.4 billion in 2024. It has strategic project capex investments for the Liberia expansion project (41%), the renewables energy project in India (14%), and Mardyck Electrical Steels (14%).  It has steel-making operations in 15 countries, including 37 integrated and mini-mill steel-making facilities. 

Mittal Family

Lakshmi Mittal has two brothers, Pramod Mittal and Vinod Mittal, and a sister, Seema Lohia. Seema is married to Prakash Lohia, who owns Indorama Corporation. (Read Prakash Lohia)

Lakshmi Mittal is married to Usha Dalmia. They have a son Aditya Mittal and a daughter Vanisha Mittal. He resides at 18-19 Kensington Palace Gardens, which was bought in 2004 for £67 million ($128 million). The opulent house, then the world's most expensive residence, is decorated with marbles taken from the same quarry from where marble stones were sourced by King Shahajahan to construct the Taj Mahal. The extravagance is often referred to by the media as the 'Taj Mittal'. It has 12 bedrooms, an indoor pool, Turkish baths and parking for 20 cars.

Also, Lakshmi Mittal bought No. 9A Palace Greens, Kensington Gardens, formerly the Philippines Embassy, for £70 million in 2008, for his daughter Vanisha Mittal. She is married to Amit Bhatia, a businessman and philanthropist. Vanisha's wedding reception is still remembered for its lavish 'vegetarian Party' held in the Palace of Versailles, France.

Achievements And Awards

The following are some of the major achievements and awards received by Lakshmi Mittal:

• Turning around the fortunes of state-owned steel works in Trinidad and Tobago.
• Acquiring and successfully managing the Irish Steel plant in Cork, Ireland, and renaming Sidex Galati to Ispat Sidex. 
• Acquisition of PHS Steel Group from the Polish government and renamed Ispat Mexicana and Ispat Karmet.
• Most significant achievement is the acquisition of Arcelor in 2006, creating the world's largest steelmaking company, ArcelorMittal. 
• Lakshmi Mittal has received numerous awards and honours, including the Padma Vibhushan, India's second-highest civilian honour, in 2008.

Besides, Lakshmi Mittal gained international recognition as a steel industry leader. In 1996, he was awarded Steelmaker of the Year by New Steel in the US. He was named Fortune's European Businessman of the Year in 2004, and Person of the Year by the Financial Times in 2006. In 2010, he received the World Steel Association’s medal in recognition of his contribution to the sustainable development of the global steel industry. In 2013, he received a Doctor Honoris Causa from the AGH University of Science and Technology in Krakow, Poland.

Lakshmi Mittal is Chairman of $68-billion (revenue) ArcelorMittal, the world's largest steel and mining company by output. In 2019, Arcelor and Nippon Steel completed their $5.9 billion acquisition of Essar Steel, once controlled by former billionaires Shashi Ruia and Ravi Ruia. In 2021, Mittal made his son Aditya Mittal as CEO while he took over as Executive Chairman of ArcelorMittal. As of March 2025, Lakshmi Mittal's net worth is estimated at $18.43 billion. 

Lakshmi Mittal’s legacy goes beyond his accomplishments in the steel industry. The LNM Foundation, a platform for social responsibility that he founded, is engaged in improvement of education, healthcare, and development of the community. His philanthropic efforts include numerous social causes, which show his belief in corporate responsibility in the fight against societal challenges and his dedication to giving back to society.

(Photo: Courtesy ArcelorMittal)

David And Simon Reuben

Midas Touch 

After immigrating to the UK from India in the 1950s, David and Simon Reuben went from strength to strength, thanks to their business acumen and strategy. Today, the Reubens are the fourth wealthiest in Britain. 

According to Britain Tracker's industry report, prepared in conjunction with the Confederation of Indian Industry, of the fastest-growing Indian companies in the UK last year, 100 of them have clocked revenue growth of at least 10%. The combined turnover of these companies is estimated at £42.8 billion, aggregating an average annual growth rate of 48%. Together, they paid £473.6 million in corporation tax and made capital expenditure investments of £1.4 billion.

Of the 100 fastest-growing Indian companies, 27% are in technology and telecoms, while engineering and manufacturing companies represent 20% of companies. Hospitality and leisure companies particularly benefitted from a full year’s trading under normal conditions. They represented 10% of the Tracker companies, including five in the top 30 list. Around 52% of the fastest-growing companies are mostly focused in London.

Reuben Brothers

Born into a Baghdadi Jewish family in Mumbai (erstwhile Bombay), David Reuben and Simon Reuben are the sons of David Sassoon Reuben and Nancy Reuben. Their father migrated to Mumbai from Iraq in search of employment in the then large textile industry. However, the divorce of their parents led the brothers to a different destination, London, in the 1950s along with their mother. 

Due to financial circumstances, the brothers had a chequered early life and had to study in state schools. Simon Reuben could not complete his formal education, since he dropped out of school. They were brought up in Islington, North London.

Scrap Metals Business And Carpet Trading

Eventually, David set up a scrap metals business while Simon started out in carpets trade. He acquired England's oldest carpet company from the receivers, and subsequently he made a profit from carpet trading. Thereafter, he began investing in property. Initially, he invested in Walton Street and the King's Road in Chelsea. The brothers grew financially strong during the 1970s and 1980s, thanks to their successful metals and property businesses.

In the early 1990s, David and Simon were drawn towards the Russian metals market. However, the incapacitated Russian aluminum smelters soon became debt ridden. Trans-World, Reuben's firm, invested in the factories. They received raw materials in return for finished aluminum from them. The company's investment in Russia was estimated at $1.5 billion, with global sales in 1995 clocking over $8 billion. However, Trans-World was accused of involvement in illegal activities. The brothers were reportedly involved with a few members of the country's oligarchy. Eventually, they agreed to a multimillion-pound legal dispute with an oligarchy. And the settlement was awarded to Reuben Brothers.

By 2000, the brothers sold all Russian assets and focused their business activities particularly on the UK's property market. Since then they have made many acquisitions and investments in technology companies. By the mid-2000s their business interests in the UK and outside the country were primarily focused on real estate. Simon Reuben has investments in OneDome, a fintech business, in the UK. In 2008, the brothers once again focused on the commodity business. They expanded their mining footprint to Morocco, Indonesia and South Africa.

Realty Business And Investments

The Reuben brothers own a number of properties in the UK. Their primary properties include Millbank Tower; the John Lewis Partnership headquarters and American Express offices in Victoria; Carlton House SW1; Academy House on Sackville Street; Connaught House on Berkeley Square; and Market Towers. Besides, they also own London Primark store on Oxford Street; Sloane Street shops; and Cambridge House, the former premises of the Naval and Military Club. 

The brothers' other investments and developments are in Merchant Squaren (a 1.8 million sq. ft. complex comprising offices and flats in Paddington), London; Park Plaza Hotels & Resorts (a 50-50 joint venture in a new apart-hotel under the 'art'otel' brand in Hoxton) in London; Hampton House; and airports at London Oxford and London Heliport. In 2006, they tied up with the FTSE-listed McCarthy & Stone, a retirement home construction company, though they reportedly exited from the deal subsequently.

In 2007, the brothers made investments in the luxury leisure group, Belmond Ltd. But they sold their stake in the group in 2019 for £233 million. Their other holdings are Travelodge Hotels; D2 Jeans and Blue Inc.,  Sir Stuart Rose; Luup and Metro Bank; The Wellington Pub Company (the largest free-of-tie pub estate in the UK, with about 850 tenanted pubs); Global Switch, the carrier data centre provider in Europe and the Asia-Pacific region; and a joint venture with British Marine.

In 2020, the ownership of Newcastle United Football Club was agreed between Mike Ashley and a consortium comprising Reuben Brothers, Amanda Staveley's PCP Capital Partners, and the Public Investment Fund of Saudi Arabia. Besides, the brothers also have a stake in Arena Racing Company (ARC Racing and Leisure Group) created in 2012 by the merger of Arena Leisure and Northern Racing. In 2024, the brothers acquired a strategic stake in EDGLRD, an entertainment company founded by film-maker Harmony Korine.

Awards And Achievements 

The Reuben brothers have received many awards and accolades for their successful business. Some of prominent awards include Commander of the Order of the British Empire (CBE) in 2003; Honorary Doctorate of Laws from the University of Westminster in 2005; Lifetime Achievement Award from the Jewish Leadership Council in 2007; and Philanthropist of the Year Award from The Sunday Times in 2012.

As per the Sunday Times Rich List 2023, David and Simon Reuben and their combined family had an estimated net worth of £24.4 billion, making them Britain's fourth wealthiest family.

(Photo: Courtesy Company Website) 

Joyalukkas Group

Joyalukkas: Favourite Gold Shopping Destination 

Joy Alukkas, Chairman and MD, Joyalukkas Group, is a jewellery retailer, with over 100 outlets in India and 60 overseas. The group enjoys the trust and patronage of numerous nationalities, who consider Joyalukkas as their favourite destination for jewellery shopping. A report.

Almost all cultures have used gold to represent power, beauty and accomplishment throughout history. Wedding rings, Olympic medals, Oscars, Grammys, money, religious icons, and art are among the most important items made of gold today. No other substance of comparable rarity occupies such a prominent and visible position in society.

As per The World Gold Council’s Full Year 2024 Gold Demand Trends report, the total annual gold demand, including over the counter, hit a new record high of 4,974 tonnes. This was mostly driven by strong and sustained central bank buying and growth in investment demand. The record high gold prices, along with volumes, resulted in the highest ever total value of demand at $382 billion.

However, high prices dampened demand in the jewellery sector, with annual consumption decreasing by 11% to 1,877 tonnes. This was driven largely due to China's decreased year-on-year consumption of 24%. On the other hand, Indian demand remained resilient, dropping only 2% in 2024, thanks to a record high price environment. In fact, India's gold demand growth outperformed the global average, as the country clocked a 5% growth in 2024. As per sources, the overall demand for gold in the country stood at 802.8 tonnes during the year compared to 761 tonnes in 2023. The climb was sharper in value terms, as it went up by 31% to Rs 515,390 crore in 2024 from Rs 392,000 crore in 2023.

The Indian jewellery market is projected to grow at 10% CAGR by 2030. The share of organised retail in this market is expanding more rapidly than the industry average. Currently, the organised segment, which accounts for less than 50% of the market, is growing at a fast rate.

Joy Alukkas' Epic Journey 

Joy Alukkas is a jewellery retailer with over 100 outlets in India and 60 overseas. The owner has been ranked the 712th richest person in the world, with a net worth of $4.4 billion. Alukkas was born to Kerala-based businessman, Alukka Joseph Varghese. Alukkas' father was involved in diverse businesses, including umbrella manufacturing, selling clothes, real estate and earthen pots. In 1956, the year Joy Alukkas was born, the family set up a jewellery shop in Thrissur, Kerala. 

Varghese Alukkas, Joy Alukkas' father, subsequently shared his business among his sons: Jos, Francis, Joy Alukkas and Anto Alukkas. Joy Alukkas later set up shop in the Gulf countries and started a gold business. Although Alukkas' brothers were sceptical about him making a foray into the Gulf countries and also doubted his ability to set up a jewellery store, Alukkas convinced that the Malayali diaspora there were spending most of their income on buying gold, which was cheaper while India had restrictions about individual gold possession.  

In 2001, Alukkas founded Joyalukkas Jewellery. The group has its major offices in Thrissur (India) and Dubai (UAE). In 2007, he opened a Gold & Diamond jewellery showroom and a 'Diamond Cave' in Chennai, India. In 2012, Joyalukkas was authorized to sell Forevermark branded diamonds from De Beers. Joy Alukkas has other businesses, including Mall of Joy, a shopping retail destination, Jolly Silks, a silk fashion label, Joyalukkas Exchange, a money exchange platform, and Joyalukkas Lifestyle Developers, a real estate company. Jolly Silks was named after Jolly Joy his wife.

By the early 1980s, the Alukka family expanded its business from Kerala's Thrissur to Kozhikode, which was developing as a trading hub. Setting up of a jewellery store in Kozhikode, a city that had seen large migration to the Gulf countries, as the Gulf boom gathered pace, proved to be a catalyst for the rapid growth of Alukkas Group. The success of Alukkas Group in Kozhikode prompted other jewellers, including Malabar Gold, to foray into gold retail. As business thrived, the family had also identified the GCC Countries, with a large Malayali diaspora, for the next phase of growth.

In 2002, the Alukkas family divided its business among the brothers. Joy Alukkas was handed control of the Middle East business. His brothers Jos, Paul and Francis opened several jewellery stores in Kerala, and they continue to run their own retail businesses. Jos has 49 stores located largely across South India. Francis has six stores, all of them situated in Kerala. Paul, another brother, operates two retail stores in Kerala, besides being a real estate developer. And Anto, the youngest brother, has discontinued the jewellery business.

Nearly 90% of Joyalukkas' revenues in India are from Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, and Telangana. This is followed by the northern and western markets, particularly Maharashtra, where the company now sees enormous potential to expand. Unlike some of its competitors, the group's stores are built on leased land. Apart from India, it has Jewellery stores in the UAE, the US, the UK, Saudi Arabia, Qatar, Bahrain, Kuwait, Oman, Singapore and Malaysia. The company employs over 9,000 people.

Joyalukkas' Overseas Operations

Joy Alukkas bought a Rolls-Royce after being insulted by a salesperson at a Dubai car showroom in the early 2000s. He then gave away the car in a raffle to boost his jewellery business in the UAE. This marketing strategy proved to be a masterstroke. Today, he owns a number of jewellery stores in the UAE.

Some of the major overseas branches of Joyalukkas are located in the UAE's Al-Ain, Ras-al-Khaimah, Dubai, and Abu Dhabi. In Oman, it has branches in Boushar, Ruwi, Seeb, and Sohar. It has branches in Qatar's Al-Gharafa, Al-Wakrah, Doha, and Abu Hamour Doha. In Bahrain, it has branches in Bab-Al-Bahrain and Manama. The company has stores in Saudi Arabia located in Jeddah, Al-Batha, Riyadh, and Al-Khobar. In Kuwait, it has branches in Souk Al-Watiya, Kuwait City, Al-Rai, and Fahaheel. It has branches in Southall and London, UK. In the US, its stores are located in Georgia, Dallas, and New Jersey.

Awards And Accolades 

In 2016, Joy Alukkas received ‘The Business Excellence Award 2016’ from Sheikh Nahyan Bin Mubarak Al Nahyan, UAE Minister of Culture, Youth and Social Development, organized by the Indian Business Professionals Council (IBPC) 2016.

In 2018, Alukkas was listed in Forbes Magazine in both its World's Billionaires list and India's Rich list.

In 2019, he was honoured with Best Indian Diamond Jewellery of the Year by Retail Jeweller Middle East innovation Awards.

In 2022, he was ranked the 69th richest Indian in Forbes India’s Richest List.

Philanthropy 

In 2018, Joy Alukkas contributed a large sum of money to the relief fund for victims of the Cyclone Ockhi. After the Kerala Floods in September 2018, the Joyalukkas Foundation announced its plans to build 250 houses for those who lost their homes. Around 350 orphaned students were awarded the 'Joy of Hope' scholarship by Joyalukkas Foundation securing educational support for five years. The foundation also has plans for an old age home in Thrissur, Kerala, and a palliative care centre.

(Photo: Courtesy Joyalukkas)

Transworld Group, UAE

Ramesh Ramakrishnan: Riding The High Seas

Transworld Group, based in Dubai, UAE, is a multinational shipping and logistics company with diverse business interests. In 2024, Ramesh Ramakrishnan, Chairman, was honoured with the prestigious "The Maritime Standard Hall of Fame Award."

The global shipping industry has evolved significantly over the last decade. This has translated into both opportunities and challenges. Amidst the growing container demand, the industry landscape is marked by fuel consumption concerns, geopolitical tensions, and shifting operational practices. Both importers and logistics providers should stay informed of the trends in the shipping industry to remain competitive and manage potential disruptions. 

In 2023, global maritime trade grew by 2.4%, which saw a contraction in 2022. However, the recovery has remained slow. The key choke points, such as the Suez and Panama Canals, have become increasingly vulnerable to geopolitical tensions, conflicts and climate change. These disruptions have extended to shipping routes, thereby straining supply chains and raising costs. These have a profound impact on food security, energy supplies and the global economy, since more than 80% of world trade volume is carried by sea. Certain developing countries, especially small underdeveloped island states and the least developed countries, are hit the hardest by rising shipping costs. 

The Review of Maritime Transport 2024 not only highlights these challenges, but also calls for urgent action to strengthen industry resilience, accelerate decarbonization and support vulnerable economies. It has pointed out the need for new infrastructure that is sustainable and resilient, a faster transition to low-carbon shipping, and a crackdown on fraudulent ship registrations to safeguard global trade.

Among the top global shipping companies, Transworld Group, based in the UAE, has not only been sailing smoothly for over three decades but also has diversified into several other businesses. Ramesh S. Ramakrishnan, the chairman of the group, has been a resident of the UAE since 1989. Born to the late R. Sivaswamy Iyer and Valli Sivaswamy, he was raised in Quilon (Kollam), Kerala, India. He shifted to Mumbai with his parents after the completion of his schooling. He graduated from Mumbai University while working in his father’s then fledgling business. He later pursued the President Management Programme at Harvard Business School. He has been the chairman of Transworld Group for over three decades.

Ramesh Ramakrishnan expanded Transworld Group from a shipping agency his father established in Mumbai in 1977 to an award-winning, fully integrated logistics and shipping conglomerate. Today, Transworld Group has its footprint across the globe, with operations in all aspects of the supply chain. Its expertise covers a range of solutions from ship owning to project logistics to warehousing.

Transworld Group 

Based in Dubai, UAE, Transworld Group is a multinational shipping and logistics company, with business interests in shipping and logistics, aviation, supply chain management, and food processing, among others. Established by Ramakrishnan's father in 1977, the company has offices in the UAE,  the US, Saudi Arabia, Oman, Sri Lanka, and India. In 1989, Ramakrishnan took over the reins of the company. He later expanded its operations into shipping, marine and logistics in the Indian subcontinent and  thereafter to the Gulf region.

The group provides shipping and multimodal logistics services. Its shipping services comprise containerized, bulk, and tanker cargo transportation. Besides, it has logistics services, including third-party logistics, freight forwarding, cold chain logistics, and warehousing. In 2022, the group set up the liquid bulk segment. During 2021-24, the group provided logistics services in the construction of the BAPS Hindu Mandir in Abu Dhabi. In 2023, it signed an agreement with DP World's Jebel Ali Free Zone (Jafza) for the construction of a 50,000 sq. mt. dry and temperature-controlled distribution centre in Jafza, which is slated for completion by 2025. In 2024, it signed a Rs 2000-crore memorandum of understanding to establish ship leasing and aircraft leasing activities at GIFT IFSC in India's western State of Gujarat.

Business Diversification 

In 2023, Transworld Group diversified into the aviation sector. It began the operations with its luxury private jet charter service, Airavat, in the Middle East, Europe and Asia. In 2024, it entered into a joint venture with former SpiceJet COO Arun Kashyap's Sirius India Airlines to begin operations in India. In 2023, Transworld Group set up World People Solutions in partnership with DP World's World Security for recruitment of workers from India for job opportunities overseas.

Last year, it established its food processing and agri-logistics firm, Transgreen. Also, the group, along with Emirati filmmaker Shihan Shoukath, launched a film production company, Reel World Entertainment, in 2024. Moreover, recently it also developed real estate and infrastructure projects in India and the UAE.

Transworld Group has developed a three-pronged approach to navigate the maritime challenges: it focuses on the workforce, refines its processes, and embraces continuous improvement. It maintains open communication channels, understanding their difficulties and challenges. This approach allows the company to tailor solutions to the specific needs of its workforce. Its top priority is their well-being and empowerment through sustained training, education and support. Moreover, the company collaborates closely with clients, continuously improving solutions to ensure that it effectively addresses their evolving needs. 

Transworld Group has developed advanced warehouse management systems. These utilise technology to streamline processes, intelligently place and retrieve cargo and minimise errors. It has been keeping pace with emerging trends and potential opportunities. Also, it has plans to invest in significant projects, such as a food processing unit, with state-of-the-art facilities in Gujarat and a large distribution centre in partnership with Jafza. These projects are expected to create jobs and expand business capabilities.

Transworld Group offices are situated globally, including in the UAE, the US, Saudi Arabia, Oman, Qatar, Kuwait, Sri Lanka, Hong Kong, Singapore and Pakistan, among others. It has offices in 28 Indian cities also. Thanks to its strong founding principles, trust, quality and customer orientation, the group has been able to expand its footprint globally. 

Transworld Group clocked a revenue of $459.9 million last year. The group employs around 850 people in its various facilities. As it crosses the 47th year in the global shipping and logistics business, the group continues to stay sustainable as a leading corporate player. 

In 2024, Ramesh Ramakrishnan was honoured with the prestigious The Maritime Standard Hall of Fame Award from the Maritime Standard Awards, the Middle East. He has also received several other awards and recognitions. Along with his wife Geeta and their children, Ritesh and Anisha, he continues to lead Transworld World to greater heights.

(Photo: Courtesy Transworld Group)

Choithrams, GCC

L.T. Pagarani: Emirates' Top Grocer

Choithrams has been known for its supermarkets in the UAE since 1974. With L.T. Pagarani at the helm of the company as Chairman, it straddles the GCC retail markets through associates in diverse fields. In 2024, Choithrams bagged the Business Impact Award. A report.

The GCC countries' long-term retail industry prospects are being driven by  the region's economic growth, favourable demographics, relaxation of visa rules and liberalization policies. The ambitious agendas of the GCC governments to diversify their economies through significant developments in infrastructure and tourism sectors are also providing the incentives for growth.

Amidst the growing prominence of e-commerce, retailers are adopting dynamic business strategies to better meet consumer demands and widen market presence. As per a report by Alpen Capital, UAE, retail sales in the GCC countries are projected to grow at a CAGR of 4.6% to reach $386.9 billion in 2028 from $309.6 billion in 2023. This growth is expected to be supported by an increase in population, a rise in per capita income, and a boost in tourism activities. Retail sales in the GCC countries are projected to grow in the range of 1.0%  and 5.4% CAGR between 2023 and 2028. Saudi Arabia and the UAE are projected to grow at a CAGR of 5.1% and 5.4% to reach $161.4 billion and $139.1 billion, respectively. Growth will be driven by their diverse and expanding population base and vibrant infrastructure. These two countries are projected to cumulatively account for 77.7% of the total GCC retail sales by 2028. The Alpen report further stated that retail sales in Kuwait and Bahrain are projected to witness a CAGR of 3.1% each between 2023 and 2028, while Qatar and Oman are expected to grow at a CAGR of 2.2% and 1.0%, respectively.

The GCC retail industry is primarily driven by the increasing population, high concentration of expatriates and high-net-worth individuals. However, despite the diversification efforts of the GCC countries, combined with a strong growth momentum in the non-oil sector, vulnerability and uncertainty in hydrocarbon revenues, due to oil production cuts, and the rising geopolitical concerns and global macro-economic headwinds, are likely to put pressure on the industry.

Choithrams' Legacy

Choithrams is one of the early pioneers in the retail business. It was started by Thakurdas Choithram Pagarani in a small shop in Freetown, Sierra Leone, West Africa, in 1943. The retail store was then named T. Choithram & Sons. He started as a sole trader but today Choithrams has a footprint in 19 countries. Three business anchors in the UAE, the UK and West Africa have been driving the group's vast business while it employs 16,000 people globally.

Thakurdas Choithram Pagarani, an entrepreneur and philanthropist, is fondly remembered by his children for his legacy of transforming his business from a single-outlet and one-country venture into a vast group, with a global presence in retail, distribution and manufacturing. His culture of giving took root in early 1959 when he founded the first of the many charitable trusts that continue to operate schools, clinics and hospitals,. He continues to inspire the company's 'Full of Goodness' philosophy even to this day.

L. T. Pagarani

Choithram  Group's 63-year-old chairman, Lekhu Thakurdas (L.T.) Pagarani, who is the son of Thakurdas Choithram Pagarani, has carried forward the Choitram legacy. When he was enjoying a successful career in the UK healthcare sector he was persuaded to join the family business by his father Thakurdas Choitram. At the age of 35, he took over Choithrams hospitals and schools, and eventually became the chairman of the group. 

Choithrams is widely known for its supermarkets that have had a presence in the UAE since 1974. The retailer group also has an online presence, which is supported by online delivery platforms, such as Instashop, Talabat, Deliveroo, El Grocer, and Noon. The group has extended its footprint to  Bahrain, Qatar and Oman. Also, the group has brought Britain’s Tesco range of products and Ireland’s SuperValu to the UAE’s retail stores. In 2021, it partnered with retailer Sainsbury’s to distribute its products across the Gulf region where it has operations. Moreover, Choithrams has a tie-up with Rove Hotels for convenience stores at various locations throughout the UAE. 

L.T. Pagarani is also the director of Choitrams' export and trading firm, Giant Exports, retailer Natco, Cash & Carry, and Crown Networks. Choithrams has gained a reputation for being a trusted name for quality groceries for over four decades. It has widely been recognized for its operational efficiency. In recognition of its popularity and excellence in the food retailing business, it was bestowed upon the Grocer of the year RetailME award in 2005. It was a true testament to Choitram's competence in successfully catering to the needs of a diverse population. In 2024, Choithrams bagged the Business Impact Award (Westford Awards).

Popular Brands

Today, Choithrams is a successful group with associates in diverse fields, such as wholesaling, commodity brokerage, and manufacturing of edible and non-edible items. After initially setting up shop in the UAE in 1974, today Choithram operates 55 supermarkets in the Emirates. The supermarket chain is passionate about providing an unbeatable shopping experience for customers. 

Some of the top Choithrams brands include Rainbow, Kimball, Fruitella, and Weetabix, to name a few. Food Services or HoReCa, a branch of Choithrams, is dedicated to the hospitality sector. The division has a tie-up with major hotels, clubs and airlines globally. Its Light Household & Garments division provides a wide range of household appliances, domestic products, toys, fashion wear, children's garments, etc. brought from 30 countries. Its Logistics & Distribution centre ensures that the supermarkets are continuously well stocked, besides keeping the Distribution and Food services division always replenished. Choithrams' expansion into Oman, Bahrain and Qatar ensures the distribution of brands into all corners of the Gulf market. It brings to the Gulf region the expertise, experience, networks and communications developed over 70 years.

Philanthropy And Future Plans

L.T. Pagarani is also the head of Choithram International Foundation, the philanthropic arm of the group. It pledged Dh100,000 to Al Jalila Foundation towards Covid-19 relief efforts during the pandemic. In recent years, he has primed the privately-held business, whose turnover is reportedly in billions of dirhams in the UAE,  for the next-gen of professionals. Over the last seven decades, Choithrams has grown also into an international company spanning Europe, North America and Africa. 

Choithrams is dedicated to excellence in quality and safety. Its focus on compliance and strict adherence to HACCP (Hazard Analysis and Critical Control Point) guidelines ensures the health and well-being of its consumers. Choithrams has plans to expand by opening new stores and launching online shopping services. New stores in the UAE, Bahrain and Qatar are on the anvil. Its plans include opening 5-6 stores annually in the UAE and across the region, besides launching online shopping services in Bahrain and Qatar. It will be setting up dark stores that will only be used for online shopping. Additionally, the company plans to focus on generational inclusivity in the workforce.

(Photos: Courtesy Choithrams)

Sudima Hotels, New Zealand

Sudesh Jhunjhunwala: Redefining Hospitality 

Sudesh Jhunjhunwala, Founder and CEO, Sudima Hotels, has established eight hotels in New Zealand along with several restaurants, bars and boutique spas. He has been honoured as an Officer of the New Zealand Order of Merit (Honours List of 2025) for bringing his entrepreneurial spirit to Kiwland, creating one of the country’s leading hotel chains. A report.

The hospitality industry of New Zealand contributes substantially to the country's economy. It employs about 200,000 people and contributes around 1.7% of the GDP. According to sources, the industry is expected to grow, with a projected revenue of $0.95 billion in 2025 and $1.09 billion by 2029. The restaurant and bar business is the largest employer, with over 50% of the industry's workforce. In New Zealand, the major chunk of the hospitality facilities are located in Auckland, while Canterbury and Wellington have witnessed the second-biggest markets. 

The country's hotel market is witnessing a rise in eco-friendly accommodation, with an emphasis on sustainable practices and local sourcing. The industry's occupancy rate is also expected to increase, reaching 3.17 million users by 2029. As per sources, the user penetration is predicted to increase from 50% in 2025 to 58% by 2029, while the average revenue per user (ARPU) is expected to be $0.36k. 

Since tourists and travelers in New Zealand are increasingly seeking unique and authentic experiences during their stays,  a rise in demand is noticeable for boutique hotels, eco-friendly accommodation, and properties that offer cultural activities. A trend in the country's hospitality market is the increasing use of technology, including mobile check-in options, and personalized recommendations based on guest preferences. The country's unique natural landscapes and outdoor activities are major attractions for tourists. Hence, hotels in popular tourist destinations, such as Queenstown and Rotorua, have been enjoying high demand round the year . Besides, the country's strong focus on sustainability and conservation has been influencing the design and operation of hotels, with many properties incorporating eco-friendly practices.

Sudima Hotels, New Zealand, established in 2000, has the distinction for being the first hotel group in the country to be awarded "carboNZero" certification in 2013, which, according to the hotel management, is merely an extension of its fundamental philosophy.

The Jhunjhunwalas' Migration

Birajlal Jhunjhnuwala, Sudesh's grandfather, who was born and bred in India, immigrated with his family to Burma (Myanmar), which was then a part of British-governed India. He set up a textiles and garments business in Rangoon in 1918. By the late 1940s, he controlled about 85% of the textile trade. But the Japanese invasion of Burma during World War 2 drove thousands out of the land. The Jhunjhnuwala family had to return to India, with a major part of the journey being on foot.  After the war the family returned to Burma and set up an investment business, with offices in Hong Kong, Singapore and other parts of Southeast Asia.

However, when the military government took over Burma in 1962, the Jhunjhunwala family lost all its Burma assets with the nationalisation of all businesses. Subsequently, the family moved to Kathmandu, Nepal, in 1968, where Sudesh was brought up. The Jhunjhunwalas set up an  import business involving importing  goods from different parts of the world to sell them in Kathmandu. Eventually, the family shifted to Hong Kong in 1976. Over a period of two decades, the Jhunjhunwala family acquired a substantial number of commercial and industrial properties in New Zealand. The family also bought Christchurch Airport Hotel besides a hotel in Rotorua. In 2001, Sudesh Jhunjhunwala moved to New Zealand from Hong Kong to run the family's property business. He attended the prestigious University of Southern California, US, where he graduated with a Bachelor of Science in Business Administration. 

Sudesh Jhunjhunwala initially worked in his family business manufacturing watches. While on his honeymoon he was enamoured of New Zealand and later he settled in the country. He is the founder of the Sudima Hotel chain, with eight hotels in New Zealand along with several restaurants, bars and boutique spas. Initially, he lacked the knowledge of the hospitality business and hence he hired skilled staff to run the hotel business. In the beginning he raised funds locally through banks, thanks  to the family's extensive property assets. The name "Sudima" was coined using his initials and those of his four brothers and a sister, with a bit of poetic hue. Sudesh is married to Laxmi and they have three daughters.

Accolades And Honours 

Sudima achieved the first Toitū net carbon zero certification for its hotels in New Zealand. Its waste reduction practices have been accepted  within the wider industry. In 2023, the group was among the finalists in both ‘Caring for our Communities’ and ‘Leading the Way in Regenerative Hospitality’ at the renowned HM Awards in Sydney, Australia. In 2024, Human Resources New Zealand recognised Hind Management & Sudima Hotels with the prestigious Building Sustainability Through People Award. 

Sudesh Jhunjhunwala, the visionary behind Sudima Group, has been honoured as an Officer of the New Zealand Order of Merit (Honours List of 2025) for bringing his entrepreneurial spirit to Kiwland, creating one of the country’s leading hotel chains.

Top Sudima Hotels 

Sudima Auckland City, a 4.5-star hotel in the heart of the city, is conveniently located within easy walking distance of Auckland’s bustling shopping, arts, dining and entertainment precincts.

Sudima Lake Rotorua offers breath-taking vistas across the water. It’s also just a short walk from Rotorua's vibrant CBD and Convention & Events Centre. This well-appointed home-away-from-home has all the facilities and features you would expect from a Qualmark 4-star hotel.

Sudima Kaikoura, a 4.5-star hotel with stunning views of mountains and sea, is situated close to the township’s retail centre. With the state-of-the-art facilities, it is the first hotel of this size and quality in Kaikoura.

Christchurch City, a 5-star boutique hotel, is located on Victoria Street amidst an array of cafes, restaurants and bars. As a contemporary hotel it features luxe rooms, a stylish restaurant and a bar, and an elegant day spa.

Sudima Christchurch Airport is an award-winning 4.5-star hotel just 5 minutes from the airport terminals and next door to the International Antarctic Centre. It is a well equipped hotel, with an in-house restaurant and bar, conference rooms, high-speed Internet and a shuttle that runs 24/7.

Sudima Hotels' hospitality arm, Hind Management, is led by CEO Sudesh Jhunjhnuwala. Also, he is the owner and CEO of Sudima Hotels and Hind Properties. His family interests extend beyond hospitality to a large commercial property portfolio across New Zealand. Moreover, it has extensive business interests throughout Asia and in other countries. Sudima Group employs over 700 people at its various facilities. The Sudima Hotel brand is a winner of the New Zealand Supreme Tourism Award. Currently, Sudesh's focus is on Australia, with several joint ventures and independent projects in the pipeline.

(Photos: Sudima Hotels)

Edison Power Group, South Africa

Vivian Reddy: Empowering Rainbow Nation 

Vivian Reddy is Founder and Chairman of Edison Power Group, an electrical company, headquartered in Durban, South Africa. The group has diversified its business into casinos, healthcare, financial services, and property development. A report.

Although after the end of apartheid South Africa’s economy grew, black South African households continued to reel under the decades-old discriminative atmosphere, corruption and a lack of education. As per the World Bank (WB), in the first decade after apartheid, the ANC-led South Africa’s gross domestic product (GDP) rose from $153 billion in 1994 to $458 billion in 2011.  The WB further stated that about 10% of the population controls 80% of the wealth in the country. According to a Harward study, corruption and government inefficiency have been the major factors for the economic growth tapering off, with gross debt rising from 23.6% of GDP in 2008 to 71.1% in 2022.

While the quality of infrastructure has declined in general partly due to the crumbling of the coal-powered electricity system that provided cheap power for production and households, it is exacerbating the historical inequalities black communities face. Although the South African government looks to maintain fiscal prudence and macroeconomic stability, it has been focusing on two major fronts to spur economic growth. First, its relentless commitment to implement structural reforms for creating a more productive, competitive and sustainable economy. Second, its focus on unlocking growth-enhancing infrastructure investments, though mostly from the private sector, to boost fixed investment spending. This has been creating a more pro-business environment in the country.

It was in the 1800s the first Indians arrived in South Africa as indentured labourers to work on sugarcane plantations. The Indian population in the country has grown since and is estimated at about 1.5 million. The Indian community makes up about 3% of South Africa's population. The majority of the community lives in KwaZulu Natal, with about 15% in Gauteng and 5% in Cape Town. Durban, the largest city in KwaZulu Natal, is home to the largest Indian population in sub-Saharan Africa. 

Vivian Reddy's Odyssey 

Vathasallum or Vivian Reddy, born in 1953 in Greenwood Park, Durban, is a South African businessman from KwaZulu-Natal. He is Founder and Chairperson of Edison Power Group, an electrical company, headquartered in Durban. The group has diversified its business into casinos, healthcare, financial services, and property development.

It was way back in 1973, Vivian Reddy started his own electrical company, Reddy’s Electrical, with just 500 rands and a borrowed bakkie (small truck). The challenges then were immense because of the apartheid policies. Government contracts were out of reach for non-white businesses, while private firms often preferred to work with white-owned companies.

Early Life And Antecedents 

Vivian Reddy's father was a school teacher and had nine children. He earned a meagre salary that was barely enough to sustain his family. Despite young Reddy seeing the constant financial struggle up-close, the unwavering dedication to integrity and service taught by his father left a mark on him. His father's credo, "Service to humanity is the best work of life," guided Vivian through his life. His parents were committed to education as a way out of poverty.

At the age of 16, Vivian Reddy was selected to represent South Africa at a Boy Scout Jamboree in Japan. After the completion of his high school education, he enrolled at Springfield Training College.  But he decided shortly thereafter that he wanted to be an electrical engineer. Subsequently, he was fired from his engineering apprenticeship. Undeterred by the setbacks, he founded Reddy's Electrical, an electrical contracting firm, which was later renamed Edison Power.

Growing up in apartheid South Africa meant that he, as an Indian, was subject to the racial segregation. The nation's segregation policy confined non-white citizens to specific areas. The policy also dictated their education, which barred them from career opportunities. Indians, initially brought to the country as indentured labourers by the British in the 19th century, were politically and socially marginalized, despite them being wealthy and contributed significantly to the nation's economy.

Vivian Reddy landed his first job as an electrician after completing his education at Sastri Park Secondary School. Working at an electrical company in Pietermaritzburg, he rose in the ranks quickly to become a branch manager. But apartheid’s discrimination soon reared its ugly head. Once Vivian was outraged by a 'Whites Only' Christmas party, where non-whites were not allowed. He led non-white workers and gatecrashed the 'Whites Only' celebration, causing an altercation. 

Edison Power 

Despite the barriers, a determined Vivian wished to make it big in business. However, he realized soon that his company’s name, Reddy's Electrical, was a hindrance in securing contracts. Hence, he made a strategic decision to rebrand the company as Edison Power. The name change gave him better credibility he needed to secure contracts with racially prejudiced clients.

Vivian's efforts and  success as a businessman through Edison Power caught Nelson Mandela’s attention. He highly esteemed Vivian's efforts to electrify townships during the apartheid regime, a risky move, which not only demonstrated his business acumen but also his commitment to social upliftment. With Mandela's encouragement he began to form  business associations with key business figures who could contribute to the rebuilding of South Africa’s economy. 

Edison Power soon secured business with the government, including a series of contracts for the procurement of smart electricity meters for the City of Johannesburg. In the early 2010s, he was accused of certain financial irregularities. However, an independent investigation concluded in November 2023 that there was no evidence of the alleged irregularities of the R1.25-billion contract between Edison Power and City Power. Vivian is also known for his personal and business contacts with the country's former President Jacob Zuma.

Today, Vivian Reddy wears many hats as the founder and the chairman of Edison Power Group, as well as a social activist, philanthropist and reformer. From being raised in poverty to gaining a net worth of R1.9 billion, he has come a long way. He has been instrumental in shaping the post-apartheid story, particularly the legacy of the Indian diaspora in South Africa.

Vivian Reddy and his first wife, Mogi Naidoo, have three children. However, in 2003, he married his second wife, Sorisha Naidoo, who is a media personality, actress, and cast member of The Real Housewives of Durban. They have two children together.  

Awards And Recognitions

Vivian Reddy has received several awards and accolades:

• 1992: Four Outstanding South Africans (FOYSA Award).
• 1993: International Senate Award;  Distinguished Service Award; and South African Young Achiever Award.
• 1998: Rotary International – Paul Harris Community Service Award.
• 2003: Global Indian Entrepreneur of the Year Award.
• 2007: Voted the Most Admired Businessperson in KwaZulu-Natal.
• 2009: Award for Sustainable Contribution to Engineering and Business.
• 2011: Living Legend Award from the City of Durban.
• 2012: Invited to Bill Clinton Global Initiative.

At 71, Vivian Reddy is deeply committed to philanthropy in South Africa, supporting initiatives, such as the Orphans of AIDS Trust Fund and contributing to projects, including the Wingen Heights Secondary School and a clinic in eThekwini Metropolitan Municipality. Besides, education and healthcare, Vivian has sponsored multiple skills development programs, helping thousands of young South Africans to secure the training and qualifications required to improve their economic prospects.

Vivian Reddy’s most ambitious project to date is the R4-billion Oceans Umhlanga development, a luxury mixed-use property development that includes residential apartments, a hotel, and a shopping mall. The project has not only transformed Durban’s skyline but has also created thousands of jobs, bringing the international attention to the city.

Today, Vivian Reddy’s son Shantan Reddy plays a major role in running Edison Power, ensuring the continuity of the family legacy. Reddy’s impact on South Africa’s economy has been profound and lasting.

(Photo: Courtesy Edison Power)

Vitabiotics, UK

Tej Lalvani: Salubrious Growth 

A winner of several awards, including the prestigious Queen's Award twice, Vitabiotics, founded by Britain's pharma pioneer Kartar Lalvani in 1971, continues to scale new heights through its CEO Tej Lalvani's strategic planning. A report.

By the turn of 2024, the UK's pharmaceutical market is expected to touch a projected revenue of $31.31 billion. As per industry sources, oncology drugs are expected to be the largest market, with a projected volume of $6.13 billion. The surge in research and development has driven the growth of the country’s pharmaceutical market, which is helping to position the UK as a global hub for innovation. As per Statista, the following six pharma companies have been driving the growth within the UK.

AstraZeneca leads as a global frontrunner in life sciences. The company invests across the full life sciences value chain of the country. In the second place is GlaxoSmithKline. At the heart of the development of its pipeline of vital medicines is the immune system, genetics and advanced technologies. Royalty Pharma is on the third spot, with a portfolio of royalties that entitles it to payments based directly on the top-line sales of many of the industry’s leading therapies. In the fourth position is Roivant, which develops transformative medicines and technologies by building agile, focused companies called Vants. On the fifth spot is Dechra Pharmaceuticals, which is a global specialist in veterinary, with products for dogs, cats, horses, livestock and exotics. And in the sixth position is Hikma Pharmaceuticals, which ranks third as the generic injectable manufacturer in the US and second pharmaceutical company in MENA, and has around 760 products, with 250 projects in the pipeline.

As per industry sources, British pharmaceutical production is forecast to decline, dropping to around €900 million by 2028 from €1.4 billion in 2023, an average annual decrease of 7%. Over the past decade, the UK's pharmaceutical supply has been declining by an average of 6.6% each year since 2013. In 2023, the UK ranked fifth in pharmaceutical production, while Austria surpassed the UK this year, matching the UK's production at €1.4 billion. In terms of production Italy, Spain and Austria ranked  second, third and fourth respectively.

Although the above-mentioned pharma companies are leading the pack today in the UK, one of the pharma pioneers of Britain is Vitabiotics Ltd. The company has received twice Queen's Award for Innovation.

Vitabiotics Ltd. was established by Indian-origin Kartar Lalvani, the chairman of the company, in the UK in 1971. Later his former tutor Professor Arnold Beckett joined the firm. Located at 1 Apsley Way, London, the company's current CEO is Tej Lalvani, the son of Kartar Lalvani. After his taking over the reins Vitabiotics has been going from strength to strength, thanks to his able stewardship and his consistent focus on developments and innovations in vitamin and mineral supplements. The company's mission is to 'Empower people to improve their health through innovation in nutritional health care.' With this objective, it has created a leading portfolio of trusted, effective brands. The company has created a unique portfolio of products at the forefront of scientific developments in key sectors, including nutrition and women’s health.

The Lalvanis

Born to a Sindhi Sikh family in 1931 in Karachi, Kartar Lalvani's father was the owner of pharmacies in Karachi, Sind, present-day Pakistan. After the partition, his family moved to Bombay, where he was brought up. In 1957, he first came to London to study pharmacy, and thereafter he pursued his doctorate at the University of Bonn. Subsequently, his family immigrated to London during the 1960s. 

Along with his brothers Gulu Lalvani and Pratap Lalvani he founded Binatone, which is currently run by Gulu's son Dino Lalvani. Binatone is named after Lalvani's youngest socialite sister Bina Ramani (née Lalvani). Kartar Lalvani, who served as an honorary professor at the University of Franche-Comté, is also a philanthropist, scholar and historian. He has written on the colonial history of India. His wife is a former Miss India and a Miss World runner-up.

Tej Lalvani, Kartar Lalvani's son and the current CEO of Vitabiotics Ltd., was born in 1974. Raised in Bangalore, India, he spent his childhood shutling between India and the UK, finally settling in London when he was 16. He earned a Bachelor's degree from Westminster Business School at the University of Westminster in 1996. In the early years of his career, he worked in the warehouse of  Vitabiotics Ltd, before succeeding as the CEO. 

Vitabiotics Supplements And Vitamins 

Being the UK's largest vitamin company, Vitabiotics Ltd. has a wide range of specialist supplements for both men and women's health formulated by keeping in mind the demands of modern society. The company has developed a number of vitamins that target specific stages of life. It has a slew of multivitamins, which are the UK’s leading supplement brands and vitamin-enriched grooming products.

The company's products also include immune system vitamins and nutritional support for the immune system. It offers a comprehensive range of supplements designed to help support the immune function, with effective levels of key nutrients, such as vitamins D and C, selenium and zinc. Besides, it offers a wide range of vitamins for children to safeguard their health. 

Vitabiotics Ltd's skin, hair and nails vitamins are well-known brands widely sold among beauty-conscious men and women. They have a therapeutic effect on internal health, besides skin, hair and nails. The ingredients in the vitamin, such as riboflavin, niacin and biotin, contribute to the maintenance of normal skin while selenium and zinc are beneficial for the maintenance of normal hair and nails.

Tej Lalvani

Over the last two decades, Tej Lalvani has led Vitabiotics Ltd. to new heights by growing it through strategic planning. He has extended its market to over a hundred countries. The family business now clocks over £300 million annually.  It is renowned for producing many of the UK’s top quality vitamins, including Wellwoman, Perfectil, and Pregnacare. The company has bagged a slew of awards, including Boots’ Supplier of the Year and the Queen’s Award for Innovation.

Tej Lalvani has been involved in every aspect of Vitabiotics from the day he joined the organisation. After the completion of his education in pharmacy London, Germany and India, he worked in every department of the company, in order to gain an understanding of the functionalities of the company in depth. He started in a junior capacity and even drove the forklift trucks in the warehouse.

In the early years, Tej Lalvani developed a predilection for product design, branding and advertising. His involvement in these aspects of business continues even today, with nearly the entire marketing operations being managed by him. Besides the major marketing outdoors, print and TV campaigns through well-known celebrities, he has recently reoriented his business focus on digital channels. He has leveraged social media extensively to drive growth opportunities and engagement with millennials.

Thanks to Tej Lalvani's dedication and perseverance, Vitabiotics Ltd. has been taking big strides in business development. He was awarded ‘Young Entrepreneur of the Year'  twice, first at the Asian Business Awards in 2012 and then at the TiE UK Awards 2013. He was ranked at number 48 on the GG2 Power List of the Most Influential Asian People in Britain. Also, he was featured on India Gazette London's The India-UK Power List 2017.

Besides, being the CEO of Vitabiotics Ltd., he also runs a property investment business in London along with his wife Tara Ruby. They have two children. Tej Lalvani is passionate about supporting vital educational campaigns and health awareness initiatives. Vitabiotics Ltd. has been supporting a number of charities, including Bliss, the charity that provides help to premature and sick babies, and Wellbeing of Women, dedicated to the health of women and babies across the UK. He is best known for being one of the 'dragons' on the BBC television series Dragons' Den from 2017 to 2021. In his spare time, aside from spending time with his family, he composes music and plays a couple of musical instruments.

(Photo: Courtesy Company Site)

Stallion Group, Nigeria

Sunil Vaswani: Growth Through Innovation

Sunil Vaswani, Chairman, Stallion Group, has been passionate about West Africa, particularly Nigeria. However, in 2003, he relocated the business to the UAE and extended the footprint across the Middle East, Africa and Asia. A report.

Indian immigrants have established successful businesses across diverse industries in Africa. These immigrants who arrived in the continent with limited resources often faced significant challenges, such as cultural differences, language barriers and limited access to capital. However, their determination, resilience and willingness to adapt enabled them to overcome numerous obstacles and thrive in African countries.

Located on the western coast of Africa, Nigeria's climatic conditions vary from arid to humid across its diverse geography. In 1914, the modern nation was formed by joining the British Protectorates of Northern and Southern Nigeria. The country attained independence 1960. Dozens of languages are spoken across the country, including Yoruba, Igbo, Fula, Hausa, Edo, Ibibio, Tiv and English. The country is rich in natural resources, with large deposits of petroleum and natural gas. 

Although Nigeria's national capital is Abuja, it's the former capital, Lagos, that has retained its status as the leading commercial and industrial city. Being the largest economy in Africa and one of the fastest-growing economies in the world, Nigeria has seen considerable growth in its GDP since 2000. Its economic structure has changed significantly, transformed from one mainly based on agriculture to manufacturing and services. Around 52% of the country's GDP now comes from manufacturing and services. Manufacturing and services have grown, thanks to the country's increased political stability. A number of countries, including China, the US and South Africa, have invested heavily in Nigeria. Moreover, considerable growth is seen in its service sector, mainly IT services. The discovery of oil in the Niger Delta in the early 1950s gradually began to have a positive impact upon its then budding economy. Today, the oil and gas industry has been an important  contributor to its economic growth.

Sunil Vaswani, Chairman, Stallion Group, has been passionate about West Africa, particularly Nigeria and its economic growth. He has diversified interests in automobiles, technology, petrochemicals, plastics and packaging, steel manufacturing, food, and other commodities. Stallion Group, which is headquartered in Dubai, has been operating across Asia, the Middle East and Africa. Besides being a successful businessman, Sunil Vaswani is a philanthropist who regularly invests in host communities of his factories and facilities. Also, he is the co-founder of the Stallion Empowerment Initiative, which is a philanthropic arm of the group that was established in 2019. Initially, the initiative placed most of its focus on Nigeria and the communities within the country. However, the non-profit foundation gradually extended its footprint to other countries within West Africa. The initiative has been a community effort to  give back to the people in West Africa and beyond .

In 1954, Sunil Vaswani’s father, Sunderdas Vaswani, migrated to Africa to work as a shop assistant. Initially, he worked in Ghana and thereafter in Nigeria. He gradually opened stores for imported sundries under the name, Jacky Impex. His son Sunil arrived in Nigeria as an infant in 1963, and his brothers were born in the country. 

Born in 1963 in Jaipur, India, Sunil Vaswani, a billionaire businessman, grew up in Nigeria with his brothers in the early 1970s. Later he went to London for studies and earned a Bachelor’s Degree in Finance and Accounting. He spent most of his formative years in Nigeria learning about the business from his father. He was 21 when took over the Nigerian business from his father. Sunil Vaswani, who has Nigerian citizenship, has built the business into the multi-billion-dollar conglomerate, Stallion Group.

Stallion Group

It has been a people's company that is dedicated to its customers, partners and communities around the facilities in West Africa. It has operated in the Sub-Saharan region for half a century, developing businesses around agriculture, food, commodities, automobiles, logistics, plastics & packaging, and business solution services, among several others. It has invested significantly in building large-scale local industries in Africa using cutting-edge technologies and generating employment.

Stallion Group, which has its headquarters in Dubai, generates the bulk of its $4 billion annual revenues from West Africa, particularly Nigeria. The group has diversified into agribusiness, automobile assembly, packaging, fisheries, steel manufacturing, and logistics. 

Stallion Group's divisions are renowned for production of exceptional quality and durable products. Its automobiles division has several sub-divisions, which represent a number of globally renowned automobile brands on an exclusive basis for distribution, sales and after-sales service. The group represents  brands, such as Honda, Hyundai, Nissan, Changan, Ashok Leyland, Morris Garages, and Bajaj RE, and three and four-wheel intracity vehicles. The vehicle brands contribute a 45% share of the new automobiles market in Nigeria. It has worked closely with original equipment manufacturers (OEM) for 25 years, developing the industry and bringing global best practices to customers in Nigeria.

The group's packaging business mainly caters to home, personal care and consumer goods segments. The estimated market-size of its sub-division is 96,000 mt, with 2/3 ply laminates dominating the segment. In 2012, Stallion Plastics Ind. Ltd., a Stallion Group company, was established, with an installed capacity of 550 mt per month. It is equipped with the latest stack flexo and gravure converting machines, and inhouse extrusion, printing, lamination and core-cutting operations.

Fish being a dominant source of nutrition for the people of West Africa, Stallion Group through its fisheries division owns an integrated fish farming facility consisting of fish hatcheries, nurseries, grow-out ponds and cages, fish processing facilities and cold rooms. The group company is the largest producer of Tilapia in Nigeria. It bagged the title of the Best Fish Farmer of the Year in 2016, 2017 and 2018 for the investments and achievements in aquaculture.

The group's logistics company provides seamless logistics services across the entire value chain from shipping till the storage of cargo in major ports in West Africa. It offers reliable and hassle-free solutions for a broad range of delivery and solutions. 

In 2003, Sunil Vaswani successfully relocated the business to the UAE after he was wrongly implicated in a financial matter in Nigeria, but later the government gave him a clean chit. He has earned the title of the "Top Indian Leader in the Arab World" by Forbes Middle East for consecutive years in 2015 and 2016. He resides in Dubai with his wife Rita Vaswani and three children. He is a prominent figure, with Nigerian and British citizenship, reflecting his Sindhi heritage. His education in economics and accounting from the UK played a pivotal role in shaping his expansive career. 

Sunil Vaswani, whose estimated net worth is $1.60 billion, has been recognized through numerous awards and accolades. He has been honoured for his entrepreneurial spirit, business acumen and contributions to the economy.

(Photo: Courtesy Stallion Group)

Bidco Africa

Vimal Shah: African Odyssey 

From humble beginnings Vimal Shah, Chairman, Bidco Africa, has grown his small firm into an African business powerhouse. He has received a slew of awards and recognitions for his outstanding achievements and contributions. A report.

Kenya, a diverse country in East Africa, is home to exquisite landscapes that transform as you move through its vibrant environs, including the Great Rift Valley and the sweeping plains of the Amboseli National Park. Coastlines, cities, and rugged and wild safari parks make up this beautiful country. It has 50 national parks and reserves. Of the national reserves, 28 are managed and maintained by the Kenya Wildlife Service, ensuring that the native wildlife is protected against hunters and poachers. Moreover, it has four national sanctuaries, four marine parks, and six marine reserves.

Besides its magnificent environs, Kenya is also known for its technological innovations. In recent years, the country has been on the forefront of Information and Communication (ICT). It has gained recognition as the "Silicon Savannah," besides making significant advancements in areas, such as mobile banking and blockchain technology. The country has adopted new technologies in its ecosystem and attracted entrepreneurs and investors globally. Its ICT sector, under the Ministry of Information and Communication Technology, has catapulted the nation into a regional leader, with a growth rate that outperforms all its other sectors. 

In the midst of this magnificent country, an Indian-origin entrepreneur set up his business. In 1985, Vimal Shah and his father decided to start a soap manufacturing business. They could not secure financing through banks, but undeterred they turned to family and friends. Vimal Shah, along with his father, built the business, Bidco Africa, growing the firm over the years into one of Africa's largest companies.

Vimal Shah is an accomplished Asian-Kenyan businessman who serves at Bidco Oil Refineries as its Chairman. Being the largest manufacturer of edible oils in East and Central Africa, the company has earned immense recognition under his leadership.  It has an extensive product portfolio comprising detergents, soaps, baking powder, canola oil, and other edible oils. It also produces cooking fats, margarine, baking products, hygiene products, detergents, laundry bars, and animal feeds.

Today, Vimal Shah is a highly regarded entrepreneur, mentor, and esteemed industrialist in Kenya, which is the largest economy within the East African Community. Born in 1960 in Nyeri, a picturesque town of Kenya, he began his business journey as a trailblazing entrepreneur. He pursued higher education at the United States International University, Nairobi Campus, where he received his skills and developed a passion for business. Later he graduated with a degree in Bachelor of Science in Business Administration and Finance.

Bidco Africa

From humble beginnings Vimal Shah, Chairman, Bidco Africa, has grown his small business into an African business powerhouse. His outstanding achievements have been recognized with numerous awards and recognitions. The company is East Africa’s leading producer of fast-moving consumer goods (FMCG). Started in 1985 as a soap manufacturing plant in Nairobi, Bidco has continuously grown over the years to become the byword for East Africa’s most loved brands across the edible oils & fats, hygiene and personal care, and recently food and beverage brands. With more than 50 brands, the company not only caters to consumer needs in edible oils & fats, hygiene and personal care but also recently started producing various products in the food and beverages category,  including noodles, juices and carbonated soft drinks.

Bidco Africa aims to grow and sustain its top position in the African markets by 2030. It is determined to achieve this through conventional marketing and enhancing the everyday experiences of customers. As per the Bidco Africa's management, the company will seek opportunities and overcome challenges ethically and strive to make them a reality. It upholds Integrity and relentlessly builds trust. Its commitment has been towards continual renewal, so that its workforce, structures, products, facilities, systems and partnerships remain dynamic. According to the company, its products touch common people in a special way and impact the community and environment positively, as it grows sustainably and inclusively. With the mission to offer happy, healthy living and a natural, wholesome lifestyle to all consumers via health-preserving and life-enhancing products, Bidco Africa has consistently been growing across Africa and beyond. 

Bidco was the first company in East Africa to adopt ISO standards, ensuring world-class products. It is also a Kaizen/Lean Management practicing organization, which entails a better way of doing things. It has consistently been renewing its processes, structures, products, systems and partnerships to keep the organization progressive. With Kaizen, the company has always been improving itself and adapting to the latest changes to add value to customers.

Vimal Shah is a member of the 3GF - Global Green Growth Fund - Advisory Board and the Tony Elumelu Foundation Advisory Board. He was the Chairman of the Kenya Private Sector Alliance, the apex private sector body in Kenya until 2015. Also, he is a former chairman of the Kenya Association of Manufacturers and the East African Business Council. 

Awards And Recognitions 

Vimal Shah has won a slew of awards and recognitions. In 2008, the Kenya Institute of Management conferred upon him the CEO of the Year award, with Bidco winning the Company of the Year award. In 2011, former President Mwai Kibaki awarded him the ‘First Class: Chief of the Order of the Burning Spear (CBS), which is the highest national honour for a private citizen in Kenya, for his contributions towards national development. Also, he is the recipient of the East African Entrepreneur of the Year award 2012 by All Africa Business Leaders Awards (AABLA) in partnership with CNBC Africa and Forbes Africa. In 2014, Forbes named Vimal Shah one of the richest people in Africa. In 2015, he received an honorary PhD from KCA University for his contributions towards the growth of entrepreneurship in Kenya. Moreover, he was named Oshwal Entrepreneur of the Year in the first-ever Oshwal Awards in 2015. In 2016, he was appointed as the chancellor for Jaramogi Oginga Odinga University of Science and Technology. Moreover, Bidco has received over 30 corporate awards in 15 years across various domains, including energy management, business leadership, ICT and manufacturing.

Vimal Shah is married to Manda Shah. The couple has a son, Soham Shah. He is the former chairman of the East African Business Council, the Kenya Association of Manufacturers and the Kenya Private Sector Alliance KEPSA. Also, he was elected to the 3GF (Global Green Growth Fund) based in Amsterdam in 2014. African Tycoons for the third consecutive year has placed the estimated wealth of Vimal Shah at $1.6 billion. 

Since mid-2017, Vimal Shah has actively been mentoring small and medium-sized businesses in Kenya, East Africa and continental Africa. The mentorship program is aimed at promoting the business and innovative spirit among young people in Africa. Bidco Africa has manufacturing facilities in Kenya, Tanzania and Uganda. The group's products are marketed across 13 African countries.

(Photo: Courtesy Bidco Africa)