Inspiring Story Of An Electric Trader Who Built A Massive Empire From Scratch
This story is about a man who dropped out of school and set up a small electrical trading company in old Delhi. It was 1958 when Qimat Rai Gupta started Havells Industries with an investment of Rs10,000 but today, it is one of Asia’s top electrical brands that provide end-to-end solution in the power distribution equipment industry in over 50 countries.
Coming from an economically-challenged family, Qimat Rai could not completed his schooling. He dropped out after the primary stage and began working in an electrical shop. After earning some money, he decided to start his own venture as Guptaji & Company in Bhagirath Place in the electric wholesale market of Old Delhi. In 1958, he launched trading operations and after a few years, he successfully set up his first manufacturing plant for rewire-able switches and changeover switches in Kirti Nagar, Delhi.
In 1980s, he incorporated his company as Havell’s India Private Limited and started manufacturing high quality Energy Meters. In the same year company also entered into a technical collaboration with M/s Christian Geyer Gmbh & Co. Germany for the manufacture of Miniature Circuit Breakers in India.
That was a period when the manufacturing industry in India was picking up but funding remained a big challenge. Except for some well-known conglomerates, the manufacturing industry had tough entry barriers and most of budding entrepreneurs struggled for survival. But, Qimat Rai’s high ambition and sharp vision turned Havell’s Industries into a profit-making manufacturing company in merely one year.
Sensing a huge potential for growth, the company started another manufacturing plant at Faridabad, in Haryana for control gear products. Later in the 80’s, they acquired a manufacturing plant at Alwar, in Rajasthan for power cables and wires. Then the company decided to enter into the manufacturing of three-phase energy meters for industrial applications by acquiring many small scale industries.
Today, Havells India Ltd is a multi-billion-dollar electrical equipment company which owns well-known global brands like Crabtree, Sylvania, Concord, Lumiance and and has 91 manufcturing units with over 6,500 professionals in over 50 countries.
Not only this, but Gupta family has also made a way into the list of 100 richest Indians and on Forbes list of global billionaires. The hard work, strong determination and sharp vision of Qimat Rai is behind Havells’ extraordinary success. His entrepreneurial journey is indeed a strong source of inspiration for many budding entrepreneurs.