Aditya Vikram Birla… the man who integrated Indian economy with the world economy, is remembered for creating India’s first multi-national corporation.
He built a business empire spanning continents much before globalisation became a virtue and the borders of the country were deemed too small to accommodate the ambitions of the aspiring Indian entrepreneur. Thereby placing India on the world map in 1969.
Aditya completed his formal education, graduating in science from St Xavier's College, Calcutta, and then earning a degree in chemical engineering from the Massachusetts Institute of Technology.
On returning to India in 1965, Aditya Birla resisted his grandfather's pressure to enter the aluminum industry and struck out on his own in textiles. His maiden venture, Eastern Spinning Mills in Calcutta was a swift success in Kolkata. With this, he gave a boost to the company's sinking rayon and textile business. This was, however, just the beginning as he showed immense interest and paved the group towards success with every assignment handed over.
Aditya's next challenge was the expansion of the group's oil sector which again was a victorious attempt. However, with Indira Gandhi’s socialist ideas of preventing foreign trade, importing world-class technology, and expansion of old plants, Aditya concentrated on Indian rayon with accepting bigger challenges of taking it worldwide. Instead of moving towards the West, Aditya focused on the east and set up Indo-Thai Synthetics Company Ltd. in Thailand in 1969, thereby launching the group's first overseas company. Over the next few years, Aditya launched several more companies and joint ventures throughout the Southeast.
Under his guidance, the companies were making immense profits in key sectors of textiles, cement, aluminum, chemicals, fertilizers, fiber, financial services, sponge iron, software, and petro-refinery. Aditya is said to be highly responsible for building and improving the country's commodity business. With the marvelous success of his Grasim, Hindalco, Indian Rayon, and Indo Gulf Fertilizers, he helped several companies prosper.
Aditya Birla always remained committed to its structure as a highly diversified conglomerate. The company enjoyed the virtues of India's "License Raj," between 1947-90 and also took advantage of the liberalization of India's economy, launched during the country's economic crisis in 1991, to enter a number of new areas.
In the light of the dramatic transformation of the economic and business environment, Aditya evaluated its impact on Indian industry and implemented ways in which company can meet the challenge of change.
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