Happy birthday Shiv Nadar: Shiv Nadar, the founder of HCL Technologies, a model businessman, industrialist and philanthropist, turned 78 today, July 14. He is one of India’s self-made billionaires and was responsible for India’s first personal computer because of his foresight and bold choices. Furthermore, he was one of the biggest visionaries who made India one of the world’s top participants in the Information Technology industry. As a well-known philanthropist, he has started several philanthropic groups such as the Shiv Nadar Foundation, which focuses on rural and educational development. Here’s a look at his professional growth and wealth at the age of 78.
Shiv Nadar: Early days
After earning an engineering degree from PSG College of Technology in Coimbatore, Tamil Nadu, Nadar started working with Cooper Engineering of the Walchand Group in Pune in 1967. He then changed jobs and joined the digital products division of Delhi Cloth Mills. He founded Microcomp Ltd in 1975 in partnership with his friends and colleagues. There were a total of eight partners, with Nadar acting as the principal stakeholder of the company. As soon as IBM left the country in 1976, Nadar sensed an opportunity in the Indian computer sector. He started HCL in a garage in 1976 with the intention of manufacturing microprocessors and tele-digital calculators.
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HCL: The Success Story
Nadar invested Rs 18,700 in the starting of Hindustan Computers Limited (HCL). HCL became the first Public-Private Partnership (PPP) as his concept was supported by the Government of Uttar Pradesh with an additional grant of Rs 20 lakh in exchange for 26 per cent ownership stake in the business. IBM and Apple Inc. Prior to this, HCL released the first personal computer in India in 1978 with the name HCL 8C. Additionally, after seeing the boom in the IT industry, Nadar shifted his company abroad to Singapore to provide IT services. By 1979, HCL was valued at Rs 3 crore and did sales of Rs 10 lakh in its first year. Bloomberg estimates HCL to generate $11.5 billion in revenue in 2022.
India’s third richest man
According to Forbes, Shiv Nadar is reportedly one of the richest people in India and the entire world with a net worth of over Rs 2.07 lakh crore. Only Mukesh Ambani and Gautam Adani are ahead of Nadar in the current Forbes list of richest Indians, which places him at the third spot. Under his direction, HCL became one of India’s top IT firms with a presence in over 60 countries and an employee base of over 222,000 people, according to Forbes.
In India, Shiv Nadar is a well-known philanthropist. In 1994, he established the Shiv Nadar Foundation, which prioritizes rural and educational development. VidyaGyan School, one of the foundation’s many programs, provides free education to poor children in rural Uttar Pradesh. Additionally, he has made major financial contributions to several charity initiatives such as the COVID-19 relief work in India. Shiv Nadar was named the Most Philanthropic Person in India in 2022 by Hurun. He Rs. contributed. 1161 crores. The daily amount was Rs 3 crore. Azim Premji came second with a donation of Rs 484 crore. Shiv Nadar’s daughter Roshni Nadar Malhotra currently serves as the chairperson of HCL Technologies. Hurun claims that his net worth last year was Rs 84,330 crore.