Hinduja Brothers: The Story of a Family Business Empire
Introduction
Hinduja Group is an international corporation from India. The company is active in eleven industries, including real estate, banking and finance, media and entertainment, power, healthcare, trading, oil and specialised chemicals, IT and ITeS, and the automotive, banking and finance, cyber security, and healthcare sectors.
The Group is one of the most significant and well-diversified corporate groupings in the world. Since its founding more than 107 years ago, the firm has gradually grown to commercial sectors like automotive, information technology, oil and specialty chemicals, power generation, real estate, and many more. The Hinduja Group operates in more than 100 countries and has a direct presence in 38 of those countries.
Hinduja brothers own around $100 billion worth of assets. Around 50 billion dollars’ worth of assets belong to the Hinduja family in America. The Hinduja brothers currently have a 32-billion-dollar net worth as of 2022. According to the Sunday Times Rich List 2017, Srichand and Gopichand Hinduja are the richest persons in Britain, with an estimated wealth of £16.2 billion.
Brief History
Parmanand Deepchand Hinduja, who came from a Sindhi family with roots in India, began the business in 1914. He established the company’s first overseas operation in Iran in 1919 after initially running operations in Shikapur (in contemporary Pakistan) and Mumbai, India. The group’s administrative centre remained in Iran up until 1979, when the Islamic Revolution compelled it to relocate to Europe.
Group Chairman Srichand Hinduja and his brother Gopichand, who is now Co-Chairman, relocated to London in 1979 to expand the export company; the third brother, Prakash, controls the group’s operations in Geneva, Switzerland; and the youngest brother, Ashok, is in charge of the Indian holdings. The organisation has offices in numerous significant cities throughout the world, including India, and more than 200,000 individuals work there.
The Bofors scandal
Srichand, Gopichand, and Prakash Hinduja were involved in the investigation into the Bofors scandal, which involved allegations that the Swedish company Bofors had paid illegal bribes to politicians and government officials in connection with the 1986 sale of 400 howitzers to the Indian Government for US$1.3 billion.
The three brothers were charged by the Indian Central Bureau of Investigation in October 2000 but all charges were later dropped against them in 2005 by the High Court in Delhi due to a lack of evidence and the assertion that key documents in the prosecution’s case were “useless and dubious” because their provenance could not be confirmed.
Hinduja Brothers:
01. Srichand P Hinduja
Chairman – Hinduja Group, Hinduja Bank of Switzerland, Hinduja Foundations
Srichand P. Hinduja, also known as ‘SP’ among his business acquaintances and friends, is the eldest son of P. D. Hinduja, the founder of the Hinduja Group. SP is the Hinduja Family’s head, as well as the Chairman of the Hinduja Group and charity foundations.
SP joined his father’s family company after finishing his studies in 1952. SP, along with his brothers Gopichand, Prakash, and Ashok Hinduja, conceptualised and strategized the diversification and expansion of the Hinduja Group. SP has two children, Shanu and Vinoo, with his wife Madhu.
02. Gopichand P Hinduja
- Co-Chairman – Hinduja Group,
- Chairman – Hinduja Automotive Limited, UK
Gopichand P. Hinduja, also known in business as ‘GP,’ is the Co-Chairman of Hinduja Group. In 1959, GP joined the family company in Mumbai. He was a key figure in the Group’s development from an Indo-Middle Eastern commercial enterprise to a multibillion-dollar international corporation.
In 1959, GP graduated from Bombay’s Jai Hind College. He was awarded an Honorary Doctorate of Law by the University of Westminster and an Honorary Doctorate of Economics by Richmond College in London. He is married to Sunita, and they have two sons, Sanjay and Dheeraj, who are also active in Hinduja Group businesses, as well as a daughter, Rita. Personal hobbies of GP include trekking, music, and swimming.
03. Prakash P Hinduja
Chairman – Hinduja Group (Europe)
Prakash P. Hinduja, popularly known as ‘PP’ among his business acquaintances and friends, is the Chairman of the Hinduja Group in Europe. He has lived in Monaco since 2008. PP joined the family company in Tehran, Iran, after completing his academic study.
Later, he relocated to Geneva, Switzerland, to oversee the Group’s European activities. He later relocated to Monaco in 2008. PP is married to Kamal and has two kids, Ajay and Ramkrishan, as well as a daughter, Renuka.
04. Ashok P. Hinduja
Chairman, Hinduja Group of Companies (India)
Ashok P. Hinduja, also known as ‘AP’ among his business acquaintances and friends, is the youngest son of P. D. Hinduja. AP, a Commerce graduate from the University of Mumbai, has received honorary Doctorates in Law and Economics from the Universities of Westminster and Richmond College in the United Kingdom, as well as an Honorary Doctorate from the European University in Geneva. Besides literature, AP’s hobbies include art, architecture, movies, television, and creative media / entertainment. AP is married to Harsha and has two daughters, Ambika and Satya, as well as one son, Shom.
IndusInd Bank
Srichand P Hinduja, the CEO of Hinduja Group, conceived the vision of IndusInd Bank, the first of India’s new-generation private banks, and brought the bank into being through collective contributions from the NRI community to India’s economic and social development.
Years of business experience in both free market and protected economies in Asia, the Middle East, Europe, and the Americas has moulded SP’s fundamental belief that a free market economy can increase tolerance and understanding amongst diverse people and cultures, ultimately benefiting humanity.
Awards and Honors
- The Hinduja brothers received the Business Leader of the Year Award at The Asian Awards in 2015.
- At the 2017 Asian Business Leadership Forum sponsored by the UAE Government, Ashok Hinduja received the ABLF Global Asian Award.
- The Media Vertical division of Hinduja Group, OneOTT Entertainment Limited (OIL), received the 2019 Innovation Leaders award from Telecomlead.com.
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