Sonalika Group chairman 71st wealthiest Indian as per Forbes list
Strap: Only from Punjab to make it top 100 richest in the country
Tribune News Service
Hoshiarpur, October 13
The chairman of Hoshiarpur-based Sonalika Group, LD Mittal, remains the 71st wealthiest Indian having a net worth of $2.92 billion as per the Forbes list released recently.
The 90-year-old industrialist has been named among the top 75 wealthiest in the country for the 10th year in a row since 2012. When asked about the list Mittal’s reaction was humble, He said, “Farmers are our customers. They are our strength. All credit goes to the loyalty of farmers towards our innovative and efficient agri-implements.”
Mittal started his business in 1990 after retiring from the Life Insurance Corporation of India. Today, Sonalika Group is India’s third-largest tractor maker, which has world’s largest manufacturing capacity of three lakh tractors per annum under one roof at Hoshiarpur.
Earlier, there was a total drought of industrial pursuits in Hoshiarpur, one of the most backward districts of the state, but Mittal decided to go against the trend.
Credit goes to his perseverance, toil and vision, which also makes Hoshiarpur figure on the world map, beating many industrial hubs. The company has an annual turnover of Rs8,000 crore and exports its products in 130 countries.
