The Hinduja story: Tracing the billionaire family's journey from India to Iran and the UK
Hinduja Group: The Hinduja brothers are renowned for their billion-dollar conglomerate, the Hinduja Group. Comprising Srichand, Gopichand, Prakash, and Ashok, these four siblings oversee the multinational conglomerate across various countries, including India. The company was established by their father, Parmanand Deepchand Hinduja, in 1914.
Srichand Hinduja, the eldest, serves as the Group Chairman, while his brother Gopichand is the co-Chairman of the group. They relocated to London in 1979 to expand the export business. The third brother, Prakash, oversees the group's operations in Geneva, Switzerland. The youngest brother, Ashok, manages the business operations in India.
Who are the Hindujas?
The Hinduja family, owners of the Hinduja Group involved in diverse sectors such as trucks, lubricants, banking, and cable television, possessed a wealth of $20 billion as of November 2023, as reported by Forbes. They ranked as India's seventh wealthiest family in 2023 and were previously the 146th richest globally in 2022, though they did not maintain this position in 2023. They were also the 12th wealthiest family in Asia in 2017.
After the passing of his elder brother Srichand Hinduja in May 2023, Gopichand Hinduja, the second oldest sibling, took on the role of chairman. All three remaining siblings are British citizens, residing in different locations: Gopichand in London, Prakash in Monaco, and Ashok in Mumbai.
How did the Hinduja Group of business grow?
The Hinduja Group's business began with Parmanand Deepchand Hinduja trading goods in Shikarpur, Sindh, British India (now Pakistan). In 1914, he relocated his merchant banking and trade operations to Bombay (now Mumbai) and established an international office in Iran by 1919.
The group's trajectory expanded when the Hinduja brothers moved their operations to London in 1979, where their headquarters remain. The group claims to employ 200,000 people globally, showcasing its significant international footprint.
Srichand P Hinduja, the eldest son, known as SP, assumed leadership in November 1935. He is noted for founding IndusInd Bank. Gopichand Hinduja, the current Chairman, took charge in May 2023 and is recognized for leading the group's ventures into the power and infrastructure sectors.
What are the Hinduja Group companies?
- Ashok Leyland
- Switch Mobility
- Ashok Leyland Foundries (Hinduja Foundries)
- P D Hinduja National Hospital and Medical Research Centre
- Hinduja Healthcare Limited
- Hinduja Bank (Switzerland) Ltd (formerly Amas Bank)
- IndusInd Bank
- Hinduja Leyland Finance Ltd
- Hinduja Global Solutions Ltd
- Hinduja Tech Ltd
- GOCL Corporation Ltd
- Gulf Oil International Ltd
- Gulf Oil Lubricants India Limited
- Quaker-Houghton International Ltd
- Gulf Oil Middle East Ltd
- Hinduja National Power Corporation Ltd
- Hinduja Renewables Energy Private Ltd
- Hinduja Realty Ventures Ltd
- Hinduja Group India Limited
- KPB Hinduja College of Commerce
- NXTDIGITAL Ltd (formerly Hinduja Ventures Ltd) ¨C includes Nxtdigital Hits, OneOTT iNtertainment Ltd, INE, and INDigital
- Cyqurex Systems Private Limited
- British Metal Corporation (India) Pvt Ltd
- Hinduja Housing Finance Ltd
- Hinduja Investments and Project Services Ltd
The Swiss case: Human trafficking, low wages, long work hours
The billionaire Hinduja family from the UK has come under scrutiny as several family members face potential jail time in Switzerland. Authorities there have leveled accusations of human trafficking and exploiting staff at their villa overlooking Lake Geneva.
According to Bloomberg, Ajay Hinduja, his wife Namrata Hinduja, and other family members Prakash Hinduja and Kamal Hinduja are alleged to have spent more on their pet dog than on one of their employees, as per statements from Swiss prosecutors.
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