Farmer's college dropout son KP Ramaswamy makes it to Forbes list of richest Indians
KPR Mill specialises in production of knitted apparel, cotton, and polyester yarn, in addition to sugar and ethanol manufacturing
The Forbes Richest Indians list released on Thursday witnessed three powerful debutants and among them is 74-year-old KP Ramasamy, founder and chairman of textiles and sugar maker KPR Mill.
He has secured the 100th position on the list with a net worth of ₹19,133.7 crore. A farmer's son and college dropout, Ramaswamy has scripted a success story by establishing one of India’s largest garment export enterprises.
KPR Mill was founded way back in 1984. Almost after three decades, Ramasamy expanded his business portfolio and diversified into sugar production in 2013. His entrepreneurial journey also includes the launch of Faso, a men’s innerwear brand, in 2019. KPR Mill specialises in the production of knitted apparel, cotton, and polyester yarn, in addition to its sugar and ethanol manufacturing endeavours. The company, run by Ramasamy and his two brothers, employs 30,000 people, of which 90% are women.
Located in Coimbatore, Tamil Nadu, Ramasamy's KPR Mill produces knitted apparel, cotton and polyester yarn in addition to manufacturing sugar and ethanol. According to the Forbes report, KPR Mill has an annual production of 128 million garments. These garments encompass a wide range, including sportswear and sleepwear, and find their way to the shelves of global retail giants like H&M, Marks & Spencer, and Walmart.
The other new names in the Forbes List of India’s 100 richest include the Dani Family which runs Asian Paints. Their net worth is ₹67,841.77 crore.
Another new entrant is Renuka Jagtiani, the chairperson and CEO of Landmark Group. She took over the reins after her husband Micky Jagtiani's death in May, this year. Her net worth is ₹39,931.20 crore.
In the top three rankings, Reliance Industries chairman Mukesh Ambani claims the first position with a net worth of $92 billion, followed by Adani Group chairperson Gautam Adani with a $68 billion net worth in the second spot and HCL founder Shiv Nadar securing the third position with a net worth of $29.3 billion.