Australia (Commonwealth Union)_ In the ever-evolving landscape of global business, very few stories are as inspiring as that of Vivek Chaand Sehgal. The 66-year-old Indian-Australian billionaire is the chairman and co-founder of the Samvardhana Motherson Group, one of the world’s leading auto component manufacturers, accordingly, with an impressive net worth of approximately $7.8 billion (Rs 65,305 crore) surpassing even the financial empires of other prominent Indian billionaires across the world.
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A humble start
Vivek Chaand Sehgal’s journey from a modest beginning to monumental success is a testament to resilience and vision. Born in Delhi, India, on September 28, 1956, Sehgal was raised in a family deeply rooted in the jewelry business. His grandfather’s success as a jeweler provided a foundation for Sehgal’s future endeavors. At just eighteen, Sehgal embarked on a silver trading venture. Initially, he sold one kilogram of silver for just one rupee, earning around Rs 2,500 a month during the early 1970s. Despite the modest start, Sehgal’s insight into the potential of silver trading laid the groundwork for what became a transformative career. His initial venture faced significant hurdles, leading him to the brink of bankruptcy. However, Sehgal’s determination and strategic foresight soon steered him towards a new industry that redefined his fortunes.
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Founding Motherson Group
In 1975, alongside his late mother, Shrimati Swaran Lata Sehgal, Vivek Chaand Sehgal founded Motherson. Initially focused on the silver trade, the business soon faced a downturn, propelling Sehgal to divert towards the auto industry. This strategic shift was instrumental in the company’s turnaround. Motherson transitioned to manufacturing vehicle parts, a move that proved crucial to its financial recovery and growth. Today, the Samvardhana Motherson Group, a key division of the larger Motherson conglomerate, stands as a leading auto component manufacturer with an extensive global footprint. The group operates over 350 facilities in 41 countries, employing more than 180,000 people. With a reported total revenue of Rs 98,692 crore for FY24, the company’s impact on the automotive industry is undeniable.
Global expansion and recognition
Under Sehgal’s leadership, Motherson Group flourished, establishing partnerships with renowned automotive brands such as BMW, Ford, Mercedes, Toyota, and Volkswagen. The group’s influence in the auto component sector is substantial, contributing significantly to its financial success and global stature. In addition to his achievements with Motherson, Sehgal has been recognized for his entrepreneurial spirit. In 2016, he was honored with the EY Entrepreneur of the Year Award in India. His contributions have not only shaped the automotive industry but also set a benchmark for entrepreneurial success.
Legacy and family
Vivek Chaand Sehgal’s legacy extends beyond his business achievements. He has also contributed to the family’s continuing success, with his son, Laksh Vaaman Sehgal, serving as a director on the boards of Motherson Sumi Wiring India and Samvardhana Motherson International. The family’s continued involvement in the business ensures a sustained legacy of innovation and leadership.
Conclusion
Vivek Chaand Sehgal’s story is a remarkable example of how perseverance, vision, and adaptability can lead to extraordinary success. From earning a modest salary in silver trading to steering the Samvardhana Motherson Group to become a global leader in auto components, Sehgal’s journey epitomizes the essence of entrepreneurial achievement. As the richest Indian Australian, his success story stands in stark contrast to the wealth of other prominent Indian billionaires like Ambani, Adani, and others, highlighting the diverse paths to financial prominence. Overall, Sehgal’s journey from humble beginnings to becoming a global business icon serves as an inspiring blueprint for aspiring entrepreneurs worldwide.
