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Meet Britain's richest family, an Indian, who had headquarter in Iran for 60 years, with Rs 4138843810000 net worth they are…, their business is…
Iran is in the spotlight due to its ongoing conflict with Israel. Now it's considered a Islamic nation but had Western influence before 1979. Very few must be knowing that India's big industrial houses, the Hinduja Group had its headquarters in Tehran for six decades.
However, after the Islamic Revolution, the Hinduja Group shifted its base to London. Now the Hindujas are Britain's richest family, with a total net worth of around £35.3 billion. The group operates in 48 countries and employs over 150,000 people.
In India, the Hinduja Group has six listed companies, including the automobile company Ashok Leyland and IndusInd Bank. Recently, its company, IndusInd International Holdings Limited, acquired Reliance Capital through insolvency proceedings. The Hinduja Group was founded by Parmanand Deepchand Hinduja in 1914. The company opened its office in Iran in 1919, which was its headquarter for the next 60 years. Hinduja Business Expansion
In 1979, the Islamic Revolution led to the fall of the Shah of Iran, the Hinduja Group decided to relocate its headquarters outside Iran. They chose London as its new base. They first focused on merchant banking and trade and later entered into sectors like automobiles, IT, media and entertainment, oil and specialty chemicals, banking and finance, power generation, real estate, and healthcare.
After the demise of Parmanand Deepchand Hinduja in 1971, his four sons expanded the group's operations globally. Ashok Leyland is India's second-largest commercial vehicle manufacturer which has 10 production units worldwide.
In 1997, the company introduced India's first CNG bus. The Group entered India's banking sector in 1994 and launched Hinduja Global Solutions in 2000.
