Forbes India’s annual list of the country’s wealthiest individuals features three new faces this year, and one of them is a remarkable entrant, 74-year-old KP Ramasamy. As the founder and chairman of KPR Mill, a prominent textiles and sugar manufacturer, he has secured the 100th position on the prestigious Forbes India Rich List for 2023, with a net worth of Rs 19,133.7 crore.
KP Ramasamy’s journey to the upper echelons of India’s wealthiest can be described as a testament to hard work and determination. Born as a farmer’s son and initially a college dropout, he defied all odds and established one of India’s largest garment export enterprises. KPR Mill, which he founded in 1984, has become a prominent name in the industry.
In 2013, KP Ramasamy ventured into the realm of sugar production, further diversifying his business portfolio. His entrepreneurial spirit and keen business acumen also led to the creation of Faso, a men’s innerwear brand introduced in 2019. KPR Mill specializes in the production of knitted apparel, cotton, and polyester yarn, in addition to its sugar and ethanol manufacturing endeavors.
The Forbes report highlights the remarkable scale of KPR Mill’s production, with an annual output of 128 million garments. These garments span a wide spectrum, including sportswear and sleepwear, and are distributed to the shelves of global retail giants like H&M, Marks & Spencer, and Walmart.
Alongside KP Ramasamy, the Forbes India Rich List for 2023 features two other newcomers. The Dani Family, responsible for the operations of Asian Paints, secured a noteworthy position on the list with a net worth of ₹67,841.77 crore. Another fresh entrant is Renuka Jagtiani, who assumed the role of chairperson and CEO of the Landmark Group following her husband Micky Jagtiani’s passing in May of the same year. She boasts a net worth of ₹39,931.20 crore.
In the top three rankings of India’s richest individuals, Mukesh Ambani, chairman of Reliance Industries, leads the pack with a substantial net worth of $92 billion. Following him is Gautam Adani, the chairperson of the Adani Group, with a net worth of $68 billion in the second position. HCL founder Shiv Nadar secures the third position on the list, boasting a net worth of $29.3 billion.
KP Ramasamy’s remarkable journey from humble beginnings to Forbes India Rich List recognition serves as a testament to India’s entrepreneurial spirit and the potential for success through dedication and innovation.
Sources By Agencies