Born on the thirtieth of September, 1951; Venugopal Dhoot is one of the most distinguished and respected businessmen of the rising India.
More formally, he the Promoter & Chairman of the Videocon Group of businesses and has additionally been the key motives of the colossal increase, fulfillment and recognition of the Group. Valued at $1.Fifty five Billion (2013), Venugopal is also the #fifty three richest individual of India.
Personally speaking, he has finished his studies from the Ferguson College of engineering, Pune and presently lives with his spouse Rama Dhoot and his two youngsters, Anirudh and Surbhi. He also has younger brothers Raj Kumar Dhoot [Member of Parliament (MP) in the present BJP government] and Pradeep Kumar Dhoot.
The elder Dhoot is understood to be a big fan of cricket and is likewise in the system of buying an IPL (Indian Premiere League) team for himself. Additionally, he has also released a cricket college in Kolkata to educate and promote younger cricketers of India between the age businesses of 10 to 17 by the call of “The Videocon School of Cricket”, beneath the guidance of former Indian Cricket Captain, Saurav Ganguly.
Other than that; the diehard environmental enthusiast that he's, has additionally been approved for completing a assignment for planting 2,000,000 teak timber throughout India.
Lastly; a quote that stays close to his coronary heart is: “An entrepreneur is an ‘opportunist’, within the experience of being properly at recognizing an possibility or, creating one wherein none existed before.”
The Untold Story of Videocon!
How it all started out?
It all began along with his father, the overdue “Nandlal Madhavlal Dhoot”!
He started his profession as an Indian industrialist and went on to make an in advance fortune within the sugarcane and cotton industry. After this successful stint of his; by 1955 he had received sufficient self belief to boldly assignment into uploading equipment from Europe to set up his Gangapur Sakhar Karkhana (Sugar Mill).
Now even though he did control to open one, but there has been a large trouble of power among the neighbouring villages and had truly no manner of solving that problem. Hence, to counter that, Nandlalji along with many other people started the first ever Industrial Revolution in Maharashtra.
Over the period of years, Nandlalji’s introduced many specific and floor-breaking expressions in endless mediums, which won him the recognition of ‘The Pioneer of commercial pastime’ in Marathwada, Maharashtra. And now not handiest did revolution take area however, to top that, Maharashtra have become the hub of Industrial Activity in India.
Now after years of war and efforts; whilst he noticed that the instances had modified, Nandlalji added his 3 sons – Venugopal, Raj kumar and Pradip kumar into commercial enterprise as nicely, around the early 80’s.
Evidently, he now had extra strong arms he may want to rely on; subsequently he determined to take one of the boldest actions of his life!
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With the help of his three sons, along with a technical collaboration with the Japan-based Toshiba Corporation – Nandlalji based Videocon in 1984!
Clearly, his concept become every other modern considered one of its kind and the splendor of it was that, it didn’t many groups to compete with too!
Within a rely of no time, they received their first most important breakthrough, when they acquired one of India’s first license to fabricate color televisions. And with that Videocon also started production B&W and Colour televisions!
In 1989, the enterprise released home amusement systems and air conditioners as properly, which was accompanied by production of CRT glass shells at Gujarat around the mid of 90s. And through the 12 months 1995, the organisation had introduced on fridges and coolers to its kitty too!
And simply within a period of a decade, Venugopal had taken the reigns of the company into his own hands and transformed the corporation into certainly one of India’s main logo of Colour Televisions.
From here onwards the agency started out to enlarge and diversify with every passing day into every possibility that got here of their manner!
How did Videocon make bigger?
It had all began with customer products like shade televisions, which then went on to boom to air conditioners, washing machines, refrigerators, microwave ovens and plenty of other home appliances, through a multi-emblem strategy. And these days they keep one in all the largest income and provider community in India.
For a long time, Videocon remained unbeatable while it got here to Consumer Products, until lately, because the time Korean companies have began to enter the Indian marketplace aggressively!
Due to the growing reputation of these Korean brats within the Indian market, Videocon misplaced its no.1 market chief position and dropped all the way down to no.3.
Oil and Gas
Moving on; the agency then assorted into Oil and Gas exploration in October 1994. This occurred with the signing of the Production Sharing Contract for the RAVVA Oil and Gas offshore Field off Kakinada, Andhra Pradesh as a 25% non-operating accomplice.
This department of the Videocon Group is considered to be one of the maximum important assets for them. Their RAVVA oil discipline is widely recognized to be with one of the lowest working charges within the world and produces a whopping 500,000 barrels of oil in keeping with day.
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Later in the year 2006 Videocon Group also diversified their business into the global arena by successfully prevailing the bid for Offshore Blocks in Timor Sea and Sultanate of Oman.
And nowadays, the institution holds a large share interest in a couple of worldwide oil and fuel Concessions via its diverse subsidiaries and associates in Brazil, Indonesia, and East Timor.
More these days, a useless funding made in Mozambique became out to be fruitful once they determined Gas. To pinnacle that; their investment also rose more than tenfold in just a remember of 3 years!
And agree with or not; this could stumble upon as a surprise, but Venugopal’s Mozambique gas field has a capacity of more than six times the reserves than Reliance and Bharat Petroleum itself.
Anyways, after a successful section in Oil & Gas business came the turn of its retail wing underneath which Videocon also owns three fundamental retail manufacturers: Next, Planet M & DigiWorld.
Next Retail India Ltd become founded in the yr 2003 and is one of India’s biggest retailing customer electronics chain. At gift it holds extra than one thousand showrooms spread across India.
Planet M changed into a track retail keep based by way of The Times Group (BCCL) and changed into later bought to Next Retail India Ltd. For $32 Million in the year 2007. It presently holds a presence in more than 140 places across India.
DigiWorld become founded in the 12 months 2011 and is the quickest developing multi-brand customer electronic and home appliances retail store chain in India. It holds a presence in in most cases all urban & semi-urban regions of India.
Mobile Phones & Telecommunications
Soon after their Retail section got set; Videocon moved towards the Mobile Phones and Telecommunications arena within the year 2009!
The corporation released a brand new wing, wherein, they went directly to introduce a range of cellular telephones for the local Indian customers.
This stint of theirs ran truely nicely and have become the smartphone of every house within the Tier-2 and Tier-three states of India.
Within a brief time period and with the converting fashion, Videocon also launched some of handsets which variety from basic color FM telephones to high-stop Android devices.
While this changed into on; in 2010 Videocon additionally launched any other organization of theirs referred to as ‘Videocon Telecommunications Limited’ – in an try and provide mobile service operations across India, which turned into also in sync with their present day business.
And together; Videocon went directly to provide distinctive schemes to its customers such as the concept of ‘Zero’ paisa according to 2d with bundled SIM cards of Videocon cell offerings.
More these days, the agency additionally launched its personal flagship clever smartphone called ‘Videocon A55HD’ in India for a rate of Rs. Thirteen,499.
While Videocon released their Mobile & Telecom wing across the equal time, additionally they released another subsidiary in DTH area known as D2H.
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Being one of the first to offer DTH service; Videocon used to offer its clients LCD & TVs with a integrated DTH satellite receiver with sizes starting from 19 to 42 inches.
They offer 500 channels and services which include 28 HD channels, 21 Active Music Services and one 3-d channel.
As compared to its direct competition like Airtel digital TV, Reliance Big TV, DD Free Dish, Dish TV, Sun Direct and TATA Sky; Videocon d2h as of January 2014 has 11 million subscribers.
Since then; the organisation has transformed into a group of corporations which together account to grow to be a $five Billion Conglomerate with worker strength of greater than 15000 individuals. The company is well known to have never had a unmarried day’s manpower loss inside the final 15 years.
These corporations of groups preserve a different portfolio unfold throughout diverse different industries and international locations which include 17 manufacturing websites in India and plant life in Mainland China, Poland, Italy and Mexico.
Although, nowadays the organization’s core areas of commercial enterprise are customer electronics and home home equipment, however additionally they hold a sturdy presence in genres like DTH, strength, oil exploration and telecommunication.
In the yr 2005 Videocon obtained the Colour Picture Tube (CPT) businesses from Thomson S.A which at that time had production, assist studies and improvement centers in Poland, Italy, Mexico and China.
When Videocon entered the race for bidding in November 2004, there were sixteen different bidders like LG, Philips, Samsung and Matsushita, Daewoo and numerous Chinese manufacturers and Videocon stood a thin threat to win, beating all odds they controlled to close the deal.
Industry insiders agree with that the primary reasons behind this acquisition were exquisite Cost reducing, Vertical Integration & Rationalisation of product profile.
Additionally; Videocon also went on report to authentic say that – “The phrase is out within the global that India and Indian agencies are not just an excellent bet by way of themselves, however additionally a hedge in opposition to China.”
Trivia: – Venugopal had additionally tried his palms in getting into the lottery commercial enterprise, obtaining Ddaewoo, Indian Airlines, HPCL & BPCL.
- Videocon noted as the “the proud face of Global India” by means of Ex-Prime Minister Manmohan Singh
- President of “Associated Chambers of Commerce and Industry of India (ASSOCHAM)”
- President of “Electronic Industries Association of Marathwada”
- Member of Advisory Committee of “Poona University Information Employment & Guidance”
- Adviser to the Government of Orissa for Industrial Development of the kingdom
- Ranked 36th in the ‘Top 50 Power List’ by way of India Today (2009)
- Awarded with “Marathwada Bhushan Award” (2005)