Gujarat’s entrepreneurial graph is the one many look up to. Because entrepreneurs from the state have set a benchmark for many to follow. Their journey has been nothing short of inspiring as they have made a global economic impact through their many stakeholders and partnerships. However, while some of these entrepreneurs settled in the country, others turned their backs on it, becoming Non-Resident Indians. In their journey as immigrants, they encourage the aspiring entrepreneurs to choose new paths and overcome the hurdles. In this comprehensive guide, our team at Gujpreneur explores the lives of various NRI entrepreneurs from Gujarat and looks at their journey.
Vinod Shantilal Adani
Vinod Shantilal Adani, the elder brother of one of India’s richest business tycoons, Gautam Adani, chose to be an immigrant. He was content to find opportunities abroad and began his quest in the 1980s by moving to Dubai.
Vinod was pivotal in increasing Adani’s global reach through strategies. He is the owner of Excel Investment and Advisory Services. It is reported that his companies facilitate multi-million dollar overseas investment and acquisitions for the Adani group. Forbes listed him in 2023 among the top 20 richest Indians with a net worth exceeding $15 billion. He is a Cypriot citizen, holding a current net worth of $16.4 billion.
- Net Worth: $33.4 billion
- Companies Owned: Excel Investment and Advisory Services
Bharat Desai
Bharat Desai has one of the most compelling stories in the startup community. He was born in 1952 to an accountant father. He pursued his initial education in Mosamba and Ahmedabad before earning his electrical engineering degree from IIT Bombay. In 1976, he arrived in the US to work for Tata Consultancy Services (TCS). He also pursued an MBA in finance from the University of Michigan’s Ross School of Business.
His journey to transforming a modest startup into a billion-dollar startup started from their apartment in Troy, Michigan in 1980 with $2000. Their company, Syntel, generated $30,000 in the first year. Incidentally, they also roped in General Motors as clients as a fledgling venture. The venture was recognized as one of the best American small companies after it went public on NASDAQ in 1997. Syntel reached $1 billion in revenue by 2018. It established development centers in India, Poland, the Philippines, and more, serving global 2000 corporations.
- Net Worth: $1.6 billion
- Companies Owned: Syntel, Trinity Place Holdings Inc, ExpenseAdvisor & Cyberstate.org, DS Foundation.
Narendra Raval
Narendra Raval, affectionately known as ‘Guru’, has carved out an exceptional legacy — forged in steel, cement, and unwavering humility. He was born in Mathak, Gujarat, in 1962 and became a priest in the Swaminarayan tradition at 11. Later, he was sent to Kenya to serve a temple in Kisumu. But destiny had different plans for him.
Raval left the priesthood in his early twenties and started a new life after marrying Neeta Raval. The couple laid the dream of transforming East Africa’s industrial landscape. He later, founded the Devki Steel Mills in 1992 with a borrowed sum of around $70,000. Since then, the small steel mill has grown into Devki Group, a multi-billion-shilling conglomerate that operates across steel, cement, aluminum, and aviation.
- Net Worth: $400 million
- Companies Owned: Devki Steel Mills Limited, Maisha Mabati Mills Limited, National Cement Company Limited, Simba Cement Uganda Limited, Cimerwa Cement Limited, Maisha Packaging Company Limited, Northwood Aviation Limited (Agencies), Cemtech Clinker Plant, ARM Cement Limited assets
Ganpat Patel
Ganpat Patel, who earned the moniker of Pat, is another well known Gujarati entrepreneur who revolutionised the American hotel industry as an immigrant. Like many other immigrants he understood the United States market with modest beginnings in the 1970s. Initially, he saved every penny to buy a motel in California in the 1980s. It was the beginning of his hospitality empire. In the coming years, he was recognized as one of the most successful hotel owners in the US.
Patel not only managed his own empire under the Amiya Group of Companies banner but also successfully handled over 100 hotel chains, including Hilton and Marriott. Soon his company became a household name in the Indo-American community. It helped him rise as a prominent figure in the Asian American Hotel Owners Association (AAHOA) – an organisation which represents hotel owners of South Asian origin.
Apart from his hotel business he excelled in the education and literature sector for which he was awarded the Padma Shri. He is the founder of the Ganpat University in Mehsana district of North Gujarat, advisor in fotonVR and chairman in Guniguru, and founded the Charokee International before retiring in 2004.
- Net Worth: $7.84 million
- Companies Owned: Cherokee International, Inc, Ganpat University, FTK Investments LLC
Our team at Gujpreneur strives to produce such informative and inspiring stories. Stay tuned with us for more such pieces.
