Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

Watch billionaire industrialist, Ajay Piramal at the BI Global Trends Festival

<ul><li><a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink">Global Trends Festival</a> is one of the world's most prestigious events which will be live from Oct 19-23.</li><li>While nobel laureates, some of the biggest political and corporate icons will provide thought leadership, it's a great platform to network with CXOs from around the world.</li><li><a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink">Global Trends Festival 2020</a> is presented by <a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink"></a><a href="https://aws.amazon.com/" data-type="tilCustomLink">AWS</a>.</li><li>Get your tickets now from <a href="https://in.bookmyshow.com/events/business-insider-global-trends-festival/ET00137578" data-type="tilCustomLink">BookMyShow</a>.</li></ul> When billionaire Ajay Piramal sold his successful pharmaceutical company Nicholas Piramal to Abbot in 2010, many people were surprised. After all, he has been in this business for decades, but few remember that in the late 80s, before he purchased Nicholas Labs, he was running a textiles company and a machine tools company! Today, the $4 billion Piramal Enterprises spans sectors as varied as pharmaceutical and financial services and makes a third of its revenue outside India. The larger Piramal Group has interests in real estate and glass manufacturing as well, with offices in over 30 countries. After he completed business management from Jamnalal Bajaj Institute of Business Studies, entered the family business, his father handed him a newly acquired company called Miranda Tools to run - an experience that later helped him deal with the many companies he would acquire in his illustrious career ahead. A wide portfolio A young Piramal had initially faced many hardships including the labour troubles in the textile sector, before he made his entry into pharmaceuticals. That’s when the world saw his penchant for striking deals - a move which diversified the company across the entire range of drugs. He scooped up the domestic manufacturing plants of many multinational pharma majors like Roche, Aventis and more and it helped that back then MNCs were exiting India. Thanks to the many deals he made including buying a glass maker and bulk drug maker and by the time he sold the company, it had presence across the therapeutic range right from antibiotics to dermatological drugs to cardiovascular products. The <a href="https://www.business-standard.com/article/specials/of-mergers-and-spin-offs-198030201049_1.html">merger with Boehringer Manheim </a>added diabetics and even diagnostics range to its ever growing portfolio that helped it balance risks as a number of drugs’ prices were controlled by the government in the 2000s. The joint venture specialist Piramal also took a visionary approach to his business unlike most of his peers who were reverse engineering drugs in the domestic business earning ire from Big Pharma. Instead he struck joint ventures with MNCs like Boots and Allergan - some of whose brand rights were transferred to the business. By the time the company was sold to Abbott at a spectacular valuation which is 30 times the profit it was making, Nicholas Piramal had six Over-The-Counter brands <a href="https://economictimes.indiatimes.com/industry/healthcare/biotech/pharmaceuticals/the-inside-story-of-how-ajay-piramals-pharma-empire-received-a-boost-after-the-abbott-sale/articleshow/62891694.cms">in the top sellers list </a>along with presence in every other therapeutic range. But Piramal’s move to sell to Abbot that left him with <a href="https://www.forbes.com/sites/naazneenkarmali/2014/04/17/in-a-dealmaking-spree-indian-billionaire-ajay-piramal-places-333-million-bet-on-financial-services/#2f6f7c695c7d">$1.6 billion of personal wealth</a>, was also not his career best masterstroke. That distinction is reserved to investment and exit in Vodafone India within <a href="https://www.forbes.com/sites/naazneenkarmali/2014/04/17/in-a-dealmaking-spree-indian-billionaire-ajay-piramal-places-333-million-bet-on-financial-services/#2f6f7c695c7d">two years that left </a>him with around $500 million gain with over 50% returns! He was one of the few people who would ever gain from Vodafone India, which later got mired in multiple controversies and has been struggling to survive in the recent past. It is this knack to sense opportunities quickly and clinch deals at the right time has earned him an interesting title - the <a href="https://www.business-standard.com/article/companies/is-ajay-piramal-the-warren-buffett-of-india-114041501418_1.html">Warren Buffet of India</a>. SEE ALSO: <a href="https://www.businessinsider.in/business/news/get-inspired-by-prashant-chandrasekar-the-ceo-of-us-based-stack-overflow-at-global-trends-festival-2020/articleshow/78033494.cms" data-type="tilCustomLink">Get inspired by the Bengaluru boy who is now the CEO of US-based Stack Overflow at Global Trends Festival 2020</a> <a href="https://www.businessinsider.in/business/news/deepak-parekh-chairman-hdfc-a-legend-from-indias-financial-capital-at-global-trends-festival-2020/articleshow/78012923.cms" data-type="tilCustomLink">Deepak Parekh, a legend from India’s financial capital, must be on your watchlist at Global Trends Festival 2020</a> <a href="https://www.businessinsider.in/business/news/meet-vani-kola-managing-director-kalaari-capital-the-unicorn-hunter-at-global-trends-festival-2020/articleshow/77999658.cms" data-type="tilCustomLink">Meet Vani Kola, the unicorn hunter, at Global Trends Festival 2020</a>

Don’t miss Ajay Piramal, a master deal maker with business in 30 countries, at the Global Trends Festival 2020

<ul><li><a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink">Global Trends Festival</a> is one of the world's most prestigious events which will be live from Oct 19-23.</li><li>While nobel laureates, some of the biggest political and corporate icons will provide thought leadership, it's a great platform to network with CXOs from around the world.</li><li><a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink">Global Trends Festival 2020</a> is presented by <a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink"></a><a href="https://aws.amazon.com/" data-type="tilCustomLink">AWS</a>.</li><li>Register for the <keyword id="10088455" type="UNKNOWN" weightage="20" keywordseo="global-trends-festival">Global Trends Festival</keyword> <a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink"></a><a href="https://www.businessinsider.in/trendsform_2020.cms" data-type="tilCustomLink">here</a>.</li></ul> <keyword id="192486" type="PERSON" weightage="20" keywordseo="Nandini-Piramal">Nandini Piramal</keyword> has worked hard to make her mark and be recognised for her own merits in this competitive landscape. And it was no easy feat to achieve, given her famous last name and the legacy built by her parents, who are super achievers. She is the daughter of Ajay Piramal, known as the man with the Midas touch, and Swati Piramal, who has helped shape policies and governance related to healthcare. Nandini joined the Piramal Group in 2009. And a year later, she played an instrumental role in the sale of Piramal Healthcare’s main formulations business to Abbott in a multi-billion dollar deal. However, the Oxford and Stanford educated Nandini has no intention of giving up on the pharma business. She carved her niche with the OTC or over-the-counter drugs business. When she took over, the company had six brands and ranked <a href="https://www.businesstoday.in/current/economy-politics/piramal-enterprises-boosts-otc-business-brand-acquisitions/story/265342.html">40 in an industry </a>crowded with FMCG majors like Dabur and Unilever and pharma majors like Cipla and Sun Pharma. Since then, she has been acquiring OTC brands, re-launching products, <a href="https://www.businesstoday.in/magazine/most-powerful-women/the-right-dosage/story/416359.html">and improving </a>distribution with phenomenal results. Some of its brands, like Saridon and i-Pill, are amongst the top sellers within their category. When the COVID-19 pandemic spread across the world, the unit also quickly launched sanitizers, wipes, and much more to cater to the growing demand in a new world. Nandini dons multiple hats and also heads HR and IT at the Piramal Group. She credits most of her success to being the daughter of a working mother, apart from being one herself. At the Global Trends Festival 2020, she will share insights on the need to increase women’s participation in the economy and help transform India’s potential. SEE ALSO: <a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink"></a><a href="https://www.businessinsider.in/business/news/catch-kavin-mittal-one-of-indias-youngest-billionaire-entrepreneurs-at-the-global-trends-festival-2020/articleshow/78600950.cms" data-type="tilCustomLink">Catch Kavin Mittal, one of India’s youngest billionaire entrepreneurs, at the Global Trends Festival 2020</a> <a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink"></a><a href="https://www.businessinsider.in/business/news/watch-sangita-reddy-president-ficci-speak-about-women-entrepreneurship-and-economic-leadership-at-the-global-trends-festival-2020/articleshow/78574587.cms" data-type="tilCustomLink">Watch Sangita Reddy, President, FICCI, speak about women entrepreneurship and economic leadership at the Global Trends Festival 2020</a> <a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink"></a><a href="https://www.businessinsider.in/business/news/watch-out-for-prajakta-koli-the-social-media-queen-at-the-global-trends-festival-2020/articleshow/78566982.cms" data-type="tilCustomLink">Watch out for Prajakta Koli, the social media queen at the Global Trends Festival 2020</a>

Watch out for Nandini Piramal on breaking barriers, and transforming businesses at the Global Trends Festival 2020

Chairman of <a href="http://www.piramal.com/our-businesses/piramal-healthcare">Piramal Healthcare</a>, <keyword id="6411578" type="PERSON" weightage="20" keywordseo="Ajay-Piramal">Ajay Piramal</keyword> and his wife Dr. Swati Piramal believe in nurturing social-impact projects. 
 They are extensively involved with the <keyword id="322617" type="ORGANIZATION" weightage="20" keywordseo="Piramal-Foundation">Piramal Foundation</keyword>, the philanthropic arm of the <keyword id="6400918" type="COMPANY" weightage="20" keywordseo="Piramal-group">Piramal Group</keyword>, a diversified global business conglomerate, which has presence across various sectors such as healthcare, life sciences, drug discovery, healthcare information management, specialty glass packaging, financial services and real estate. They personally lead, guide and nurture the foundation. 
 
Each social project that is funded and nurtured by Piramal Foundation lies within one of the four broad areas – healthcare, education, water and empowerment. Projects like Piramal Sarvajal and e-Swasthya are now Harvard Business School Case Studies. 
 
Read more about how Ajay Piramal, a member of <a href="http://www.ypo.org/">Young Presidents' Organization</a> since 1992, started the Piramal Group and his inspirations and stories about the Piramal Foundation’s groundbreaking philanthropic work: 
 
1. What was your first job or business? 
My father acquired a machine tools business when I was 24. In a sense, he gave me the “keys to the shop.” I had to handle everything from marketing, sales, strategy and quality. It was a very good training ground for later in my career when my father and older brother died in quick succession and I became chairman of the group at 29. 
 
Our flagship was a textile mill, which was founded in 1871. These were challenging times for the textile industry, and I was able to turn around a nearly bankrupt business, which was badly hit by the longest textile strike in India’s history. I honed my management skills in my first job in the machine tools business and that helped me to form the Piramal Group. 
 
2. What is one must-read book for business leaders? 
The “<a href="http://www.amazon.com/The-Bhagavad-Gita-Penguin-Classics/dp/0140449183">Bhagavad</a><a href="http://www.amazon.com/The-Bhagavad-Gita-Penguin-Classics/dp/0140449183"> </a><a href="http://www.amazon.com/The-Bhagavad-Gita-Penguin-Classics/dp/0140449183">Gita</a>” is a 3,500-year-old text and a must-read on how to understand the true meaning of life and how to apply the lessons in both life and business. The Piramal Group operates with a single-minded purpose of “doing well and doing good” underpinned by its core values of knowledge, action and care. 
 
3. Fill in the blank: If I wasn’t a business leader, I would be a [BLANK] because [BLANK]. 
If I wasn’t a business leader, I would be a teacher. I enjoy working with young people and helping them realize their own dreams. At the Piramal School of Education and Leadership we train young people to become leaders. We take young postgraduates who want to make a difference and let them work for two years in rural and urban areas to help improve education standards for under-privileged children. When I see the aspirations of these young people I am extremely moved by their passion to make the world a better place. I also serve as chairman of India’s largest NGO Pratham, which helps millions of children learn to read. 
 
4. What is the most difficult leadership lesson you’ve learned? 
 To have the courage to take the “path less traveled” and believe that “values create value” (in business and life). To keep to your values in a turbulent and ever-changing world is a challenge<ins cite="mailto:Jeannette%20Acton-Shanks" datetime="2016-01-14T07:28">,</ins> but we believe that business must do well and do good to make a difference to the world around us. 
 
5. What is one of the most successfully funded and realized projects your foundation has helped bring to fruition? 
In 2007, a young social entrepreneur, Aditya Natraj, approached me with an unconventional idea to improve the quality of education in government schools. The idea involved investing in improvement of leadership capabilities of headmasters — implemented through young fellows who were keen on contributing to the social sector. I have always believed that the social issues that have persisted after more than 68 years of India’s independence require a solution that is innovative, can achieve breakthrough results and deliver change. Aditya's concept, starting with 10 schools and 10 fellows in Rajasthan<ins cite="mailto:Jeannette%20Acton-Shanks" datetime="2016-01-14T07:29">,</ins> was this kind of solution. We began our journey with a small seed capital of Rs5 million. After eight years of learning, the program now covers 1,300 schools across three states with a fellowship strength of 250 and an equal number of alumni. 
 
While the program sought to inspire unique leadership qualities of every headmaster, we were equally conscious that this had to result in an improvement in learning levels in these schools. Documented reports have shown that roughly 50 percent of students in Grade 5 in rural government schools are three grades behind in learning levels in language and mathematics. Our program over the last two years has consecutively delivered an average improvement of 20 percent in learning levels, as measured by an independent agency. In the course of this journey, we have innovated, failed, learned<del cite="mailto:Jeannette%20Acton-Shanks" datetime="2016-01-14T07:31">,</del> and refined the solution through a strong collaborative approach with the government. 
We believe that our approach to philanthropy —providing risk capital to promising ideas and incubating them to achieve scalable results — has provided a new model for this sector in India. We’ve learned immensely, and the results are a glimmer of hope while the journey has been encouraging and enriching. 
 
 6. Who is/are your business role model(s)? 
Warren Buffett because he has made sound investment decisions and has now willed considerable wealth to socially relevant purposes. 
 
7. What is the best piece of leadership advice you have received? 
Act as a trustee of the wealth that has been given to you and work in the interest of your beneficiaries; shareholders, employees, customers and society. 
 
8. How has the Piramal Foundation affected the Piramal Group as a business? 
The Foundation has a unique place in the group's contribution to its stakeholders and to society. The issues that we are trying to address in the Indian social milieu – primarily healthcare, quality of education, safe drinking water and women's empowerment – are complex issues with key development parameters. The Foundation's direct engagement in implementing a solution with governments, international donors and non-government agencies is creating replicable models that can be applied at scale. Our work across 15 Indian states is to create a platform for the Piramal Group to contribute in a meaningful manner to the country's progress. 
 
To me, the Foundation's work is indicative of a holistic approach to the group's purpose of doing well and doing good. Not only do we contribute to nation building, but we do it with a professional and ethical approach. The Foundation has successfully built a strong and professional leadership team serving a large organization of 2,000 employees. Building a sustainable enterprise, not just a portfolio of projects, driven by a common purpose has called for investments in building a talent pipeline, strengthening governance mechanisms and a robust operational backbone. The application of innovation principles in a practical, frugal and inclusive manner have had huge learnings for the business too. Above all, we focus on outcome-based plans and execution. 
 
The leverage that business and the Foundation derive from each other is a huge strength of the Piramal Group. The symbiotic relationship between the two parts of the organization builds an energy far beyond what each is capable of. 
 
9. What is the process to determine which projects should be funded by the Foundation? 
The philosophy of what the Foundation seeks to address, rests on three pillars: 
 
1. In India, we need solutions that are innovative and have the potential of delivering a step change in results. Innovation has a wide connotation in the social context – innovations in the solution set, innovative technology, a new delivery model, and process innovations. Governments have traditionally shunned innovation for the risk of failure (which is so inherent in the process), and this is where the private sector needs to step up. Learning from failures is a unique quality that we can bring to the foundation's approach. We continue to push the bar on what we strive for in the foundation and, to that extent, are hoping to create 'models' that can be replicated in varied context 
 
2. India's challenges are large. An innovative solution that works in a lab will not be of interest to policy makers who are trying to achieve a large task. Scale is critical in India and in that spirit, we believe that the models we create should be robust enough to work across large geographies and be sustainable (not just financially) in the long term. Ability to deliver scale, with the operational rigor that does not compromise on quality, is of immense value to governments and policy makers. 
 
3. We acknowledge the fact that the Piramal Group will never have all resources required to solve any problem nationally. By establishing innovative models that have potential to scale, we are happy to share these in open-source partnerships. Our biggest partner currently is the Indian government, besides a host of national and international partners. The collective force of collaborative partnerships work at different levels – Piramal Foundation as an implementing agency, a knowledge partner that seeks to contribute to a better understanding of the eco-system, partnerships to further research in public policy, etc. We believe that partnerships are crucial to address large problems, and we actively seek these in the quest of a more equitable India. 
 
 10. How has being in <keyword id="852310" type="ORGANIZATION" weightage="20" keywordseo="YPO">YPO</keyword> positively affected your business or leadership? 
Interacting with successful world leaders and creating friendships with them has helped me stay updated on the latest developments taking place in other parts of the world and equip our company to meet these challenges. 
 
11. An insight I would like to share with business leaders: 
Professor Shikhar Ghosh at Harvard Business School works closely with our Group. He made up a puzzle called Ajay Piramal’s Rules of Business for amusement of my colleagues at work and for my family. The puzzle, hints and answers are below. 
 
 
 
 
 
 
 
(The article is written by Erin Enberg) 
 
 YPO (Young Presidents’ Organization) is a not-for-profit, global network of young chief executives connected through the shared mission of becoming Better Leaders Through Education and Idea Exchange™. For more information, visit <a href="http://www.ypo.org/">www.ypo.org</a>. 
 
(Image: Thinkstock)

Nurturing a Social Impact Eco-System: 11 Questions with Social Impact Entrepreneur Ajay Piramal

<ul><li><a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink">Global Trends Festival</a> is one of the world's most prestigious events which will be live from Oct 19-23.</li><li>While nobel laureates, some of the biggest political and corporate icons will provide thought leadership, it's a great platform to network with CXOs from around the world.</li><li><a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink">Global Trends Festival 2020</a> is presented by <a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink"></a><a href="https://aws.amazon.com/" data-type="tilCustomLink">AWS</a>.</li><li>Get your tickets now from <a href="https://in.bookmyshow.com/events/business-insider-global-trends-festival/ET00137578" data-type="tilCustomLink">BookMyShow</a>.</li></ul> A 13-year-old Ritesh Agarwal sold mobile SIM cards at his <a href="https://www.thegeniusworks.com/2020/05/the-rise-of-oyo-the-worlds-fastest-growing-hospitality-brand-from-india-offering-tasteful-spaces-whenever-you-need-them-at-unbeatable-prices/#:~:text=At%20the%20age%20of%2013,college%2C%20but%20soon%20dropped%20out.&amp;text=In%202018%2D19%20OYO%20raised,billion%20through%20Agarwal's%20own%20investments.">small town of Odisha</a>, Titilagarh. Six years later, in 2013, Ritesh Agarwal came up with a digital solution to integrate unbranded hotels, homes, and living spaces, which many called AirBnB with a twist. Today, the $10 billion startup, OYO, is a household name in India and one of the world’s largest hotel chains. And, the 27-year old Agarwal is one of the youngest billionaires in the world. Agarwal, the early bird, is reaping the benefits of embracing technology early, and wants to share his convictions about the power of technology at <a href="http://trendsfestival.in/" data-type="tilCustomLink">Business Insider Global Trends Festival 2020</a>. The pandemic is testing OYO’s mettle and Agarwal’s survival instincts In the last seven years, OYO has grown in leaps and bounds. It has over a million rooms in India, with their lease and franchise model. It has also expanded to China, US and Europe. The next phase was an aggressive growth strategy including takeovers and acquisitions including Leisure group, a rental company in Europe and Las Vegas Hooters property in the US. However, like anyone in the hospitality business will tell you, the COVID-19 pandemic has forced a reset. The backing from Softbank will be useful but recovering from the nearly-fatal blow of the pandemic will need more than just money. Does Agarwal have another secret key to success? Don’t miss the <a href="http://trendsfestival.in/" data-type="tilCustomLink">Global Trends Festival 2020</a>. SEE ALSO: <a href="https://www.businessinsider.in/business/news/dont-miss-ajay-piramal-chairman-piramal-group-a-master-deal-maker-with-business-in-30-countries-at-the-global-trends-festival-2020/articleshow/78054719.cms" data-type="tilCustomLink">Don’t miss Ajay Piramal, a master deal maker with business in 30 countries, at the Global Trends Festival 2020</a> <a href="https://www.businessinsider.in/business/news/deepak-parekh-chairman-hdfc-a-legend-from-indias-financial-capital-at-global-trends-festival-2020/articleshow/78012923.cms" data-type="tilCustomLink">Deepak Parekh, a legend from India’s financial capital, must be on your watchlist at Global Trends Festival 2020</a> <a href="https://www.businessinsider.in/business/news/benefits-and-extra-attractions-for-the-attendees-of-the-business-insider-global-trends-festival/articleshow/78037583.cms" data-type="tilCustomLink">Benefits and extra attractions for the attendees of the Business Insider Global Trends Festival</a>

You Searched For "ajay piramal career" and got 5 results

Watch billionaire industrialist, Ajay Piramal at the BI Global Trends Festival

Business Insider India

Don’t miss Ajay Piramal, a master deal maker with business in 30 countries, at the Global Trends Festival 2020

BI India Bureau

Watch out for Nandini Piramal on breaking barriers, and transforming businesses at the Global Trends Festival 2020

BI India Bureau

Nurturing a Social Impact Eco-System: 11 Questions with Social Impact Entrepreneur Ajay Piramal

Guest Author

Watch out for OYO’s billionaire founder Ritesh Agarwal talking tech at Global Trends Festival 2020

BI India Bureau

Popular Keywords

Buying Guides