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Raunaq Singh Pioneer of entrepreneurship




Raunaq Singh Pioneer of entrepreneurship

Raunaq Singh Pioneer of entrepreneurship

About

Born in 1922 & died on September 30, 2002; Raunaq Singh become one of the pioneers of entrepreneurship inside the impartial India who made it massive. Presently, he's survived with the aid of his wife, 3 sons and a daughter.

Professionally; he was the founding member of “Apollo Tyres Limited” – the seventh biggest tyre organisation within the world and at the side of that he additionally mounted the “Raunaq Group”. Raunaq Group is divided into six exclusive businesses starting with Apollo Tyres Ltd and then Bharat Gears Ltd, Bharat Steel Tubes Ltd, Raunaq International Ltd, Menarini Raunaq Pharma Ltd and lastly Raunaq Automotive Components Ltd.

A lesser known reality remains that during 1986, Raunaq Singh had expressed his want to have his memoirs posted before he died. But, because of his packed agenda, he didn’t get a great deal time or strength to achieve this. Finally on the age of seventy eight, he were given the risk to begin and without wasting anymore time he brief-listed Khushwant Singh, Pritish Nandy and a few others as nicely, however earlier than the mission should take off, he exceeded away, leaving his unfulfilled want in the back of!

While hiking the ladder to success; Raunaq Singh has seen each the perimeters of a coin! On one cease; there was once a time while he could come up with the money for only 1 paisa/day for food, and on the other end, while he retired from his role, his institution turned into employing 9000 humans on his payroll and another 20,000 humans got indirect work thru his corporations! All this whilst; his entrepreneurial competencies and recognition is what has helped him to efficiently turn the tables for himself and the corporate India.

Raunaq Singh was a person who simply believed that economic liberalization and globalization of the Indian commercial enterprise became the handiest way India may want to reap the lots required push and success and to attain that he worked tirelessly till his ultimate breath.

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Entrepreneurial  Journey

Raunaq Singh changed into born to a middle class own family in Daska that is now a part of Pakistan. During his younger days; Raunaq alongside with his friends in Lahore used to promote second hand metallic pipes on bicycles to their customers, on the fee of latest ones and that too after receiving an strengthen.

Later, he joined a metal pipe merchant as a salesperson in Lahore at a profits of Rs. 8/month. Doing this task; his entrepreneurial capabilities & the fundamentals of enterprise were given the sprucing it wanted.

After India became unbiased in 1947; just like many different non-Muslims, Raunaq Singh too moved to India as a refugee. Initially; he used to camp in a small one room rental in Gole Market, Delhi along side thirteen other roommates. He again started out a clean by using running in a small spice store inside the neighborhood referred to as Munilal Bajaj & Co and earned an income of 1 paisa/day. Although it changed into nothing in comparison to what he become earning in advance but because he had to run a household, he took something he got!

Now he wanted to begin his very own project but his price range had been the most effective aspect holding him lower back . Thus, in November 1947 he sold off his wife’s jewelry for roughly 8 grands and headed to Kolkata to initiate his enterprise.

Raunaq opened his very personal spice alternate save in Kolkata which turned out to be relatively a hit too, however his future had some thing else, something lots large written for him.

To near a big spice deal; Raunaq needed to travel from Delhi to Kolkata, but because he could not find an financial system elegance railway price ticket he needed to purchase the Executive one.

What came about next modified his existence for ever!

Raunaq didn’t have the slightest of concept that he turned into sitting subsequent to the CEO of a leading Steel Tube Manufacturing Company from Germany, who coincidentally became also travelling to Kolkata on a enterprise trip. Soon, the communication between them commenced; one element brought about every other and the German honcho made a business concept to setup a steel Tube Manufacturing plant in Kolkata for Raunaq. And because Raunaq didn’t have any cash to make investments in the project, the German presented to set it up at his own price; while Raunaq should repay the amount when the organization began to make cash. Obviously, Raunaq simply couldn’t refuse this provide!

Soon the Bharat Steel Pipe’s first plant turned into installation in Kolkata, and following that was their first deal of INR 1000. Although the amount changed into less but with that, the phrase about the organisation and its enormously promising product range spread in the marketplace like fire. Due to that, inside no time the organisation have become a achievement and not handiest did it supply its produce to Indian clients, however also exported Steel Pipes to Europe & America as nicely.

Soon, Raunaq Singh started out generating numerous variety of products from tyres to pharmaceutical merchandise and to accomplish that he founded numerous organizations like Raunaq Automotive Components Ltd, Apollo Tyres Ltd., Raunaq International Ltd., Menarini Raunaq Pharma Ltd. And Bharat Gears Ltd.!

And that is how Brick-by-brick Raunaq Group was constructed!

At the age of 78; Raunaq exceeded over the functioning of the organization to his son – Onkar Singh Kanwar and on twenty second September, 2002; India lost certainly one of its first and the best entrepreneurs of the century.

Raunaq Group

Raunaq Group of Industries; established nearly 30 years in the past holds a diversified portfolio with predominant interests lying in production, engineering offerings, international trade and economic services. Apart from their stable base in India; the group as a whole also has Technical & Financial collaborations and joint ventures with some of the most leading corporations in USA, Germany, Japan and Norway.

Raunaq Group compromises of 6 agencies which include: –

  • Apollo Tyres Ltd,
  • Bharat Gears Ltd,
  • Bharat Steel Tubes Ltd,
  • Raunaq International Ltd,
  • Menarini Raunaq Pharma Ltd
  • Raunaq Automotive Components Ltd

Also Read:- Working in MNCs & MBA from Yale has nothing in common with my business – Anuradha, Founder of Bumpadum cloth Diapers

Apollo Tyres Ltd: -

Headquartered in Gurgaon & based in 1976; Apollo Tyres is the sector’s 7th largest tyre producer with annual consolidated sales really worth approx $6.6 billion.

The employer is presently chaired and controlled by the son of Raunaq Singh – Onkar Kanwar! Onkar is succeeded through his younger son Neeraj because the Vice-Chairman; whereas, his older son Raaja, heads their global arm – UFO Moviez, an award-prevailing virtual cinema outfit and a logistics firm.

The organization has a complete of four production units combining South Africa, Zimbabwe and Netherlands. With a community of over 4,000 dealerships in India, it receives sixty two.6% of its revenues from India itself, the relaxation 27.9% comes from Europe and 9.5% from Africa.

Presently, Apollo has a income of 30,000 tyres/month in a 250 million tyres/12 months marketplace of Europe. To manipulate the operations the employer has one tyre factory in Europe & Netherlands, and is in method of building a 2d factory in Hungary.

The corporation made its first acquisition in the 12 months 2006, with the aid of taking on Dunlop’s South African operations. After which in 2009, it received Netherlands based bankrupt tire maker Vredestein.

But in 2013; Apollo teared open the US market with the aid of acquiring the Cooper Tire & Rubber for a massive $2.Five billion. Due to this deal, Apollo directly took a leap from the 17th position to the 7th position inside the international and also crossed their personal goal of accomplishing sales worth $6 billion with the aid of 2016.

Bharat Gears Ltd. (BGL): -

Incorporated on twenty third December 1971 through the legend himself – Dr. Raunaq Singh, Bharat Gears Limited is currently chaired and managed through Surinder P Kanwar and is taken into consideration to be India’s biggest tools manufacturer. The organization in wellknown manufactures a various variety of gears for HCV, MCV, LCV, software and off-toll road vehicles. Their products consists of bevel, directly bevel and transmission gears.

Since its commencement, BGL has entered into diverse technical tie u.S.Such as with Holcroft based in United States for manufacturing Furnaces, with ZF Friedrichshafen based in Germany for technical & Financial collaboration for production Gear Boxes.

BGL is listed among the world leaders in gears technology and is also India’s largest gear producer. With provision of the finest tools and transmission technology, their shipping expands to countries throughout Europe, USA, Mexico and Asia.

The organisation has manufacturing centers positioned at Mumbai (Bombay), Delhi, Pune, and so forth! Some of their customers consists of leading OEM’s like TATA Motors Ltd. (TML), New Holland Tractors, VST Tractors (Mitsubishi), John Deere Coffeyville Works (JDCW), TMA, Dana Corporation, etc!

Bharat Steel Tubes Ltd. (BST): -

BST, started by means of Raunaq Group or should we say Raunaq Singh himself and is taken into consideration to be one of the main steel tube producers of India. The business enterprise turned into initiated inside the early sixties, in a joint project with Abbey Etna, USA.

The BST pipe plant placed at Ganaur, Haryana is ready with the most sophisticated and automated ERW tube manufacturing machines available.

These tubes are synthetic with the worlds maximum advanced era and they're additionally the first ones in India to be rewarded with the prestigious American Petroleum Institute stamp of international nice of ERW tubes.

Raunaq International Ltd: -

Raunaq International Limited which is currently chaired by way of Surinder Kanwar, deals in turnkey execution of Engineering Projects generally for the provider of infrastructural and industrial sectors such as Power, Chemical, Hydro-carbon, Metal and Automobile sectors of India.

Besides separate departments for Design & Engineering, Quality Assurance & Inspection and many others., the enterprise holds sizable in-house resources in terms of Engineering technical understanding, Manpower, Tools, and Plants to fulfill the wishes of the undertaken Contracts of Mechanical, Civil and Associated Electrical & Instrumentation Works. The services presented normally cowl the following areas and fields of operations: – Detailed Engineering, Procurement, Inspection and Supply, Quality Assurance, Construction & Installation, Testing & Commissioning & Project Management & Supervision.

Menarini Raunaq Pharma Ltd: -

Menarini Raunaq Pharma is a collaboration among Raunaq Group of India and Menarini organization of Italy. Raunaq group is considered to be amongst the top maximum industrial corporations in India that have respected and large presence in various fields. Together, they have got introduced their Pharmaceutical specialties in the Indian marketplace .

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Individually, Menarini with a contemporary international turnover exceeding $2 billion is the most important pharmaceutical organization in Italy and has affiliates / joint ventures in numerous international locations. With merchandise being bought in over one hundred international locations; their product variety covers pretty some vital therapeutic agencies making them as one of the fastest growing pharmaceutical group inside the global.

The Italian institution additionally has six research centers in Europe and spends a hefty percentage each year in research sports for improvement of new molecules and remedies. They are one of the few who've greater than 800 scientists who attention on studies activities in Gastrointestinal, Antibiotics, Cardiovascular and Oncology Therapeutic classes.

Raunaq Group in collaboration with their Italian counterpart has correctly controlled to introduce products in Therapeutic companies of Gastrointestinal, Antibiotics and Cardiovascular segments. The Menarini Raunaq Pharma Limited has a robust and tremendously skilled advertising team of approximately 200 personnel which incorporates Regional Sales Managers, Area Managers and Professional Services Officers located in unique elements of the usa.

After the completion of Clinical Trials / Approvals by way of the Drug Controller of India; they plan to introduce new research molecules of Menarini International in the Indian market. Along with that; the corporation also has plans to introduce new molecules which cover the ones therapeutic businesses which are relevant to the tropical diseases usual in our united states.

Raunaq Automotive Components Ltd: -

Established within the year 1989; Raunaq Automotive Components Private Limited is a producing unit for generating car additives within the area of Motorcycles & Scooters, three & four Wheeler Passenger & Cargo Vehicles, Agricultural Machinery, Tractors, ATV, Light & Heavy Commercial Vehicles, and so forth!

Other than that; with its developing success, the corporation has also improved its attain into sub-assemblies, Industrial Gears for Electrical Switch Gears & Circuit Breakers, Winches & Cranes too!

With its headquarters placed inside the capital of India – New Delhi; the organisation very well performs, examines and synchronizes all its components before transport to provide its customers with world elegance great.

RACL is developing at a very speedy tempo and is predicted to achieve income revenues well worth more than $25 million which incorporates export sales really worth extra than $10 million within the instantaneous destiny.

Achievements

Often called “Mr. Exporter”, Raunaq Singh’s awards, popularity’s & achievements move a ways beyond phrases and writing a e-book on it would nevertheless be a sarcasm.

Out of the various crucial positions he has held in various industry and exchange institutions, beneath noted are some of the maximum prominent ones: – (Source: raunaq.Com)

  • President of the Federation of Indian Chambers of Commerce and Industry
  • President of Associated Chambers of Commerce and Industry of India
  • Member of the Executive Board of the International Chamber of Commerce, Paris for a 3-year term.
  • President The Associated Chambers of Commerce and Industry of India (ASSOCHAM)
  • Chairman, Engineering Export Promotion Council (EEPC)
  • Chairman, Automotive Tyre Manufacturers Association
  • President,Federation of Indian Export Organization.

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End Note

Raunaq Singh is one of the very few humans who is considered to be the pioneer of entrepreneurship of Independent India and is also idolized by using many.

Even even though he attained a watch for commercial enterprise considering the fact that the beginning, but not like many, he had did not have the leverage of higher academic qualification, money or for that remember a godfather.

It was due to his sturdy and wise entrepreneurial capabilities that he turned out to be immensely successful inside the corporate international.

A man, who will usually be remembered through us!



Date

08 Mar, 2023

Author

CrowdforThink

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