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20-670: Kasturbhai Lalbhai (19 December 1894 – 20 January 1980) was an Indian industrialist and philanthropist . He co-founded Arvind Mills along with his brothers and several other institutes. He was a co-founder of the Ahmadabad Education Society which later founded Ahmedabad University and the Indian Institute of Management Ahmedabad . Lalbhai served as the chairman of the historic and influential Anandji Kalyanji Trust , that manages Shatrunjaya and several other Jain pilgrimage centers, for 50 years. Kasturbhai belonged to

40-465: The Ahmadabad Education Society (AES) in 1936, which later evolved into Ahmedabad University in 2009. Later this society started several educational institutes including MG Science College, L M College of Pharmacy. AES assisted the other educational institutions by donating the land to the institutes like Physical Research Laboratory , Indian Space Research Organisation , CEPT , Castrol AES Monitoring Institute, Blind Men's Association giving training to

60-822: The Taj Mahal . The term tycoon derives from the Japanese word taikun ( 大君 ) , which means "great lord", used as a title for the shōgun . The word entered the English language in 1857 with the return of Commodore Perry to the United States. US President Abraham Lincoln was humorously referred to as the Tycoon by his aides John Nicolay and John Hay . The term spread to the business community, where it has been used ever since. Modern business magnates are entrepreneurs that amass on their own or wield substantial family fortunes in

80-456: The 1930s and starting of World War II in 1939 helped textile industry in India. He modernised all seven mills. They had 12% of India's total spinning capacity and 24% of Ahmedabad's total weaving capacity resulting in they were seventh largest cotton consumer in 1939 in India. In 1948, his business group was named in the list of business houses indulging in black-marketing. R. K. Shanmukham Chetty ,

100-637: The Blind persons. Vikram Sarabhai Community Science Center, Gujarat Vishwa Kosh, and others. HL College of Commerce had the privilege to house Gujarat University in its building in the initial years. AES had also donated Rs 0.5 Million for the establishment of Gujarat University . AES also helped establish cultural center like Amdavad ni Gufa . He and Vikram Sarabhai established Ahmedabad Textile Industries Research Association (ATIRA) before independence under Ahmedabad Textile Mill owners Association for promoting research in field of textiles. AES also donated land for

120-620: The Jain family of Nagarsheths (city chief) of Ahmedabad, recognized by the Mughals, Marathas and the English during different times. He was the descendant of Shantidas Jhaveri , a royal jeweler of Akbar and an Oswal Jain from the Marwar region. Khushalchand (1680–1748), the grandson of Shantidas paid ransom to the Marathas to save Ahmedabad from plunder in 1725. Khushalchand's son Vakhatchand (1740–1814)

140-897: The Lalbhai Dalpatbhai Institute of Indology in 1962. In 1949, he founded the Gujarat Chamber of Commerce and Industries (GCCI). From 1955 to 1965, he was a chairman of Indian Institute of Technology (IIT). He founded the Lalbhai Dalpatbhai Institute of Indology in 1962 which preserves many manuscripts, rare books, and microfilms. In 1972, Sankat Nivaran Society was founded by Gujarat Chamber of Commerce and Industries and Ahmedabad Textile Mills Owners' Association. He commissioned world-renowned architects such as Louis Kahn , Le Corbusier , B. V. Doshi and Charles Correa to design some of these institutes and bring modern architecture in Ahmedabad. With time, Kasturbhai started handing over

160-585: The board of directors of Raipur mill in 1918. Later he established Ashoka Mills in the 1920s with the help of Dahyabhai Patel. Kasturbhai expanded his business with help of his mentor and trusted general manager of all his textile mills , Dahyabhai Motilal Patel, who had the vision and insight to advise Kasturbhai to invest in or acquire five mills between 1924 and 1938, including four belonging to relatives. These include establishment of Arvind Mills and Nutan Mills in 1931, Aruna Mills in 1928, Ahmedabad New Cotton Mills in 1938. Swadeshi movement by Mahatma Gandhi in

180-573: The establishment of the Indian Institute of Management Ahmedabad (IIMA). Kasturbhai along with Vikram Sarabhai were instrumental in it. He was on the board of IIMA but declined to accept the position of its chairman. Now IIMA has Kasturbhai Lalbhai Management Development Centre and a Kasturbhai Lalbhai Chair in Entrepreneurship. To promote engineering and technology, he founded an engineering college in 1947 and named it after his father, Lalbhai Dalpatbhai College of Engineering . He also established

200-517: The finance minister and a friend of Kasturbhai had to resign for reportedly suggesting that its name be dropped from the list. The Income Tax department followed its allegations with a spate of inquiries and after almost ten years, absolved the group of any wrongdoing. In 1952, his trusted advisor and general manager, Dahyabhai Motilal Patel, helped strategise and found Atul Limited (literally, 'incomparable'), India's first modern dyestuff manufacturer, in collaboration with American Cyanamid Company. It

220-404: The mill had not yet stabilized; hence, Kasturbhai had to take care of operations closely. He started off as a timekeeper in the mill, but fed up with the repetitive nature of the job, he started working with suppliers of the mill and traveled far and wide to understand the supplier market. The boom in demand during and post- World War I helped him in stabilizing the operations of the firm. He joined

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240-571: The operations of his businesses to his family in the 1960s. He devoted more time to public activities. He retired from business in January 1977. He died on 20 January 1980 in Ahmedabad. He was a strict Jain. He became chairman of Anandji Kalyanji Trust in 1925 at the age of 30 years and served for 50 years. It has many Jain temples under its management. Under him, the trust renovated many Jain temples including temples at Ranakpur , Dilwara (at Mount Abu ), Girnar , Taranga and Shatrunjaya Hills. He

260-671: The process of building or running their own businesses. Some are widely known in connection with these entrepreneurial activities, others through highly-visible secondary pursuits such as philanthropy , political fundraising and campaign financing, and sports team ownership or sponsorship. The terms mogul , tycoon , and baron were often applied to late-19th- and early-20th-century North American business magnates in extractive industries such as mining , logging and petroleum , transportation fields such as shipping and railroads , manufacturing such as automaking and steelmaking , in banking , as well as newspaper publishing. Their dominance

280-571: The trustee and chairman of Mahatma Gandhi Memorial Fund. He also served as a member of Minorities Sub-committee as a representative of Jainism . Kasturbhai was elected as the President of Federation of Indian Chamber of Commerce and Industries in 1934 and the President of Ahmedabad Textile Mill Owners Association in 1935. From 1937 to 1949, he served as the Director of Reserve Bank of India . He along with Amritlal Hargovinddas , Ganesh Mavlankar started

300-603: Was a 17-year-old studying in Gujarati College, his father died and being the second son, he was asked to discontinue his studies so as to help in the family business. His father Lalbhai had divided property among his brothers only in the recent past; as his and his sons' share, Lalbhai had received Raipur mills, a new establishment. He was married to Sharda Chimanlal Jhaveri in May 1915 and had two sons, Shrenik and Siddharth. He joined Raipur Mill as chairman in 1912. The operations of

320-724: Was also a noted businessman. His grandson Dalpatbhai Bhagubhai was also in cotton trading business in the 1870s. His son Lalbhai Dalpatbhai (1863–1912), Kasturbhai's father, established Saraspur cotton mill in 1896 addition to the traditional business of precious gems. It became a part of the swadeshi movement in India. Kasturbhai was born to Mohini and Lalbhai Dalpatbhai, a preeminent Jain family, in 1894 in Jhaveriwad, Ahmedabad , Gujarat. He studied at Municipal School Number Eight near Teen Darwaja , Ahmedabad up to fifth grade. He later joined Ranchhodlal Chhotalal Government High School. He matriculated in 1911 with second class. In 1912, when he

340-825: Was also indulged in negotiation of taxes with British for Indian textiles during economic depression of the 1930s. He held several important positions after independence of India, including Advisory Committee on Fundamental Rights, Minorities and the Administration of Tribal and Excluded Areas in 1947, chairmanship of the Economic Committee of the Ministry of Finance in 1948, chairmanship of Central Public Works Department Industry Committee in 1952, chairmanship of National Research Development Corporation, member of Council of Scientific and Industrial Research, trustee of Gandhi Smarak Nidhi, member of Indian Investment Centre. He also became

360-791: Was awarded the Padma Bhushan , India's third highest civilian honour in 1969 by the Government of India . Industrialist The term magnate derives from the Latin word magnates (plural of magnas ), meaning "great man" or "great nobleman". The term mogul is an English corruption of mughal , Persian or Arabic for "Mongol". It alludes to emperors of the Mughal Empire in Early Modern India , who possessed great power and storied riches capable of producing wonders of opulence, such as

380-588: Was inaugurated by the first prime minister, Jawaharlal Nehru . He was elected in Central Legislative Assembly in December 1923. During his three-year term, he was involved in lobbying for Indian industries including repeal of excise duty on textiles. During the 1930s, he became close to Mahatma Gandhi and helped him in the Swadeshi movement , which boycotted foreign goods and promoted local industries. He

400-1542: Was known as the Second Industrial Revolution , the Gilded Age , or the Robber Baron Era . Examples of business magnates in the western world include historical figures such as pottery entrepreneur Josiah Wedgwood , oilmen John D. Rockefeller and Fred C. Koch , automobile pioneer Henry Ford , aviation pioneer Howard Hughes , shipping and railroad veterans Aristotle Onassis , Cornelius Vanderbilt , Leland Stanford , Jay Gould and James J. Hill , steel innovator Andrew Carnegie , newspaper publisher William Randolph Hearst , poultry entrepreneur Arthur Perdue , retail merchant Sam Walton , and bankers J. P. Morgan and Mayer Amschel Rothschild . Contemporary industrial tycoons include e-commerce entrepreneur Jeff Bezos , investor Warren Buffett , computer programmers Bill Gates and Paul Allen , technology innovator Steve Jobs , vacuum cleaner retailer Sir James Dyson , media proprietors Sumner Redstone , Ted Turner and Rupert Murdoch , industrial entrepreneur Elon Musk , steel investor Lakshmi Mittal , telecommunications investor Carlos Slim , Virgin Group founder Sir Richard Branson , Formula 1 executive Bernie Ecclestone , and internet entrepreneurs Larry Page and Sergey Brin . American Cyanamid Too Many Requests If you report this error to

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