Life stories of Indian and South East Asian business leaders

Bhavarlal Jain, (1937-2016) founder of India's Jain Irrigation (https://www.jains.com/), the second largest global micro irrigation system

All of the people in my books are outstanding entrepreneurs but, every now and then, one of them demonstrates an extra "something" which I can't easily or simply define.  Bhavarlal Jain is one such person.  Like most, he had an eye for an opportunity, but he had an unusual approach to admitting his failures. In 1997 he took out a half page advertisement in the leading Economic Times of India where he apologised to his investors and stakeholders. He said "I am sad that, for the first time since our inception, we have fared badly....... I feel it is my duty to account for, to own up, to admit my misjudgements and apologise."  Do you know of any leading entrepreneur anywhere who has done that?  The interview is a little longer than normal but, for those who are interested in understanding the Jain religion, I think you will find Bhavarlal's explanation useful; not just to how it applies in day to day life but to how it relates to business. But there is another reason for including his chapter in Profiles in Enterprise and that is his obvious deep love for his wife, Kantabai and her contribution to his success.  As he put it "we were one person in two bodies - one soul in two bodies."    Please note that these interviews took place some time ago - over 25 years ago in the case of the South East Asian life story book and around 10 to 15 years ago in the case of the two Indian life story books.  However, their stories are correct to the time of the interviews and the objective is to demonstrate the entrepreneurial skills they exhibited at the time of the interviews in building their businesses.

Washington Sycip, (1921- 2017), Founder SGV Group in the Philippines which in due course became the largest accounting firm in South East Asia and which later became a member of Athur Andersen and then Ernst and Young

Washington Sycip, known to most as "Wash", bestrode the accounting profession in South East Asia as a legend in his own life time.  He founded W SyCip and Co in 1946 as a "one man band" with the plan to make it the largest in the Philippines.  He did way more than that. It grew through a merger to become SGV and then grew further to become the largest professional services firm - auditing, assurance and advisory services in South East Asia.  In 1985 SGV  teamed up with the global firm of Arthur Andersen.  Wash handed over management of SGV the following year marking 50 remarkable years since his founding of the firm in 1946.  Long after he retired, in 2002 SGV moved its relationship to Ernst and Young following the implosion of Arthur Andersen over the Enron scandal in the US.   For those who are interested there is an online free biography on his life - https://www.washingtonsycip.org/excerpt-first-chapter/. Wash was very small in stature but he "lit up a room" and I would have to rate him as one of the most charismatic people I have ever met.   My interview took place in 1997 and, as a sign of Wash's sense of the future he made the telling observation that he was particularly concerned that, even back then, the United States was the dominant world player.  He said 'if decision makers in the US do not understand Asia and, vice versa, then everyone is in trouble."  As President Trump has just declared war on Iran, I think we could add "the Middle East". Please note that these interviews took place some time ago - over 25 years ago in the case of the South East Asian life story book and around 10 to 15 years ago in the case of the two Indian life story books.  However, their stories are correct to the time of the interviews and the objective is to demonstrate the entrepreneurial skills they exhibited at the time of the interviews in building their businesses.

Ambassador Alfonso Tiaoqui Yuchengco , Founder, Yuchengco Group of Companies in the Philippines (1923-2017)

Ambassador Yuchengco founded the Yuchengko Group of Companies.  By the time I met him in 1998 he was already 75 and had  handed over day to day management to his eight children.  The group is prominent in many business sectors and includes major companies such as Malayan Insurance, Rizal Commercial Banking Corporation and House of Investments - https://www.ygc.com/ He has led an extraordinary life and, following his successful business career, has represented the Philippines as its Ambassador at the United Nations, Japan and China and held several other prominent advisory roles for Philippines' Presidents. He also had an unusual childhood with one particular experience which, as an Australian, feels very strange to me.  Several of his older brothers died at birth and his parents immediately adopted a boy in the place of the biological brother who had died.  His parents were quite superstitious so, when Alfonso was born and survived, to protect him they brought him up as a daughter until he was 6 or 7. Please note that these interviews took place some time ago - over 25 years ago in the case of the South East Asian life story book and around 10 to 15 years ago in the case of the two Indian life story books.  However, their stories are correct to the time of the interviews and the objective is to demonstrate the entrepreneurial skills they exhibited at the time of the interviews in building their businesses.

Radhe Shyam Agarwal, co-founder and Chairman, Emami, born 1946

Radhe Shyam Agarwal, is the co-founder and Chairman of Emami (https://www.emamiltd.in/) which is leading Indian conglomerate involved in  the businesses of Fast Moving Consumer Goods (FMCG), paper, real estate, edible oils, health care and cement.  He is almost always referred to as RS Agarwal along with his co-founder and partial namesake, Radhe Shyam Goenka who is similarly almost always referred to as RS Goenka. As you will hear the lives of the two founders are inextricably intertwined and in many ways they are alter egos and compliment each other brilliantly. Please note that these interviews took place some time ago - over 25 years ago in the case of the South East Asian life story book and around 10 to 15 years ago in the case of the two Indian life story books.  However, their stories are correct to the time of the interviews and the objective is to demonstrate the entrepreneurial skills they exhibited at the time of the interviews in building their businesses.

Venu Srinivasan, Emeritus Chairman of TVS Motor Company, born 1952

Venu Srinivasan is one of the grandsons of the founder of TVS Motor Company,  T. V. Sundaram Iyengar.  Under Venu's "watch" TVS (https://www.tvsmotor.com/en/ec/About-Us/overview) has grown to be the third-largest motorcycle company in India by revenue. TVS is also the second largest two-wheeler exporter in India with exports to over 60 countries.  In addition, he serves on the board of Tata Sons and as one of the vice-chairmen of Tata Trusts. He received the Padma Bhushan, India's third-highest civilian award in January 2020. Venu's wife Mallika Srinivasan is also a major Indian industrialist in her own right. She is the chairman and managing director of Tractors and Farm Equipment Limited founded in 1960 by her grandfather.  The company is commonly known as TAFE and is the second largest manufacturer of tractors in Indian after Mahindra and Mahindra.  The life story of the late chairman of Mahindra and Mahindra, Keshub Mahindra is also covered in this podcast series. TVS' relationship with General Motors of the US was also extremely important in the early growth of the company and many family members including Venu's father were sent to General Motors for training.  Venu refers to General Motors as "GM" in the podcast.  You will also hear Venu refer to Professor Lord Bhattacharyya with huge respect and appreciation for his advice and assistance to TVS.  He was a British-Indian engineer, educator and government advisor. In 1980, he became Professor of Manufacturing Systems at the University of Warwick and founded the Warwick Manufacturing Group. In 2004, he was made a life peer and became a member of the House of Lords. He passed away in 2019 at the age of 79. Please note that these interviews took place some time ago - over 25 years ago in the case of the South East Asian life story book and around 10 to 15 years ago in the case of the two Indian life story books.  However, their stories are correct to the time of the interviews and the objective is to demonstrate the entrepreneurial skills they exhibited at the time of the interviews in building their businesses.