Balkrishan Goenka

Balkrishan Gopiram Goenka (born 15 August 1966) is among India's most dynamic business leaders and an Indian businessman based in Mumbai, Maharashtra, India. He is the Chairman of the US$2.3 billion Welspun Group. A global conglomerate with operations in more than 50 countries.[2][3]

Balkrishan Gopiram Goenka
Born (1966-08-15) 15 August 1966
Hisar, Haryana, India
Occupation(s)Chairman, Welspun Group[1]
SpouseDipali Goenka
Children2
WebsiteOfficial Website

He is the co-founder and largest shareholder of companies such as Welspun India Ltd, the world's largest manufacturer of terry towels, and Welspun Corp Ltd, the world's second-largest producer of large-diameter pipes.[4]

As Associated Chambers of Commerce and Industry of India (ASSOCHAM) President (2018-2019), Goenka contributed significantly to shaping India's Trade, Commerce, and Industrial environment.[5]

According to Forbes, Goenka's net worth is estimated at $1.3 billion as of 29 December 2022.[6] Goenka ranked 83rd on 2015's Forbes India Rich List.[7]

Early life

Balkrishan Goenka (known more as BK or BKG) was born on 15 August 1966 in Hisar, Haryana, the son of Gopi Ram Goenka and his wife, Gayatri Devi Goenka. The second of three children, he grew up in Delhi before moving to Mumbai in the early 1980s.[3] Balkrishan Goenka lived in a joint family in a large house with grandparents, parents, brothers and sisters, four uncles, aunts, and cousins.[8]

He came from a Marwari family engaged in exporting food grains but seemed interested in something other than carrying on the family business. Goenka wanted to venture into a different business.[2] The 16-year-old BKG decided to turn the family's movie hall into a commercial complex and set up a fast food joint there.[9]

Career

The career of BKG has been majorly influenced by Gopi Ram Goenka (Babuji). Balkrishan Goenka draws inspiration from his father.[3] Goenka founded Welspun in 1985. The initial project was in Maharashtra's Palghar. Canara Bank provided the funding, and Himsons, Surat, a company that assembles texturizing machinery, was contracted to supply the first machine. Within a year, the company made a profit of INR 18 lakhs.[2]

Goenka set up Welspun with his cousin, Rajesh R. Mandawewala, now the managing director of the Welspun Group.[10] Over 25 years, he built up a $3-billion turnover company.[9]

Timeline

2000s–present

In 2006, Welspun acquired an 85 percent stake in CHT Holdings Limited, the holding company of Christy, the leading towel brand in Britain.[11][12] BKG has ventured into various businesses ranging from home textiles to steel pipes, infrastructure, renewable business, warehousing and Oil & Gas.[13]

Personal life

He married Dipali Goenka in 1987, and they have two daughters, Radhika and Vanshika.[14] He is passionate about vintage cars and owns two vintage cars: A Standard Coventry 1929 and a 1930 Ford.[15]

Leadership Style

The visionary leadership of Mr. Goneka envisions Welspun Group as one of the world's leading conglomerates. In an interview with the financial express, he stated, “There’s no point in getting into anything and everything. We have to be focused about what we are doing and be the best in it.” [2]

The 13th Prime Minister of India, Dr. Manmohan Singh, presented the Economic Times Corporate Excellence Award for Emerging Company of the Year to Balkrishan Goenka in 2009.

Awards and honors
Year of Award or Honor Name of Award or Honor Awarding Organization
2009 Emerging Company of the Year Award[16] The Economic Times
2019 ABLF Business Courage Award[17] Asian Business Leadership Forum (ABLF)

References
  1. "Welspun: Spinning A New Web". Financial Express. 16 November 2002. Retrieved 4 January 2011.
  2. "'I wanted to do something different'". Financialexpress. Retrieved 6 January 2023.
  3. "If you are satisfied you cannot grow, writes Chhaya Momaya". DNA India. Retrieved 6 January 2023.
  4. "Welspun India Ltd". Business Standard India. Retrieved 6 January 2023.
  5. "WHO IS BALKRISHAN GOENKA?". Business Standard India. Retrieved 6 January 2023.
  6. "Balkrishan Goenka". Forbes. Retrieved 6 January 2023.
  7. Reddy, Sujata. "Big birthday bash on the cards for Welspun Group Chairman Balkrishan Goenka". The Economic Times. Retrieved 6 January 2023.
  8. "'Leaders are born, not made by education'". Hindustan Times. 8 August 2012. Retrieved 9 January 2023.
  9. John, Nevin. "New Spins". BW Businessworld. Retrieved 9 January 2023.
  10. Ganguly, Dibeyendu. "Can Balkrishan Goenka's decision to choose family over professionals work at Welspun?". The Economic Times. Retrieved 9 January 2023.
  11. "Welspun acquires Christy of UK". The Economic Times. Retrieved 9 January 2023.
  12. Sarkar, Ranju (20 November 2007). "Welspun India turns around UK's 150-year-old Christy". Business Standard India. Retrieved 9 January 2023.
  13. "The ambitious aren't limited by resources: B.K. Goenka". www.fortuneindia.com. Retrieved 9 January 2023.
  14. "'Being Welspun Group chairman's wife means I get no special treatment'". The Economic Times. Retrieved 9 January 2023.
  15. Standard, Business (19 February 2005). "The new textile tycoons". Business Standard India. Retrieved 9 January 2023. {{cite news}}: |first= has generic name (help)
  16. "B.K. Goenka | Alumni | ABLF Network". www.ablf.com. Retrieved 10 January 2023.
  17. "The ABLF 2022 | Asian Business Leadership Forum". www.ablf.com. Retrieved 10 January 2023.
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