Govindram Seksaria
| Govindram Seksaria | |
|---|---|
 | |
| Born |
October 19, 1888 Nawalgarh, Rajasthan, British India |
| Died | June 29, 1946 |
| Nationality | Indian |
| Ethnicity | Marwari |
| Occupation | Businessmen |
| Known for | Commodities Business,Real Estate, Educational Institutes |
Govindram Seksaria was the most famous businessman of Seksaria and Bhagvati Vaid Industrial Family. He is famously known as cotton king of the world. He was among the most successful businessman of pre-independence India.
Birth and Early Life
Govindram Seksaria was born on October 19, 1888. His parents died at the early age of 16 and he had to take responsibility of his wife and 6 siblings. He moved from Nawalgarh in Rajasthan to Mumbai (then Bombay) in early 1900s and started business under the name of Messrs. Govindram Seksaria. India was then under British Raj and It was very difficult to run a business in such environment. The government was unsupportive to Indian businessmen and there was lack of any kind of encouragement. Every major industry was either owned or managed by foreign firm and they had full support from the government. So survival and growth was difficult and risky for Indian firms. Under such hostile environment, Govindram started his career as an operator on Bombay Cotton Exchange. Within few years Cotton Contract Board accepted his membership and it later became original member of East India Cotton Association. This made Govindram Seksaria very famous name in cotton market.
Entry into other businesses
After the success in cotton market, he soon entered into bullion and other commodity markets as well as various stock exchanges in India including Bombay Stock Exchange. He became a member of following boards and chambers:
- Marwari Chambers of Commerce
- The Bombay Bullion Exchange
- The Bombay Seeds Brokers Association
- The Indian Merchant Chambers
He also became founder of Indian Stock Exchange.
Entry in International Market
Even though Govindram Seksaria was very successful in Indian market, there was not much growth potential in India at that time. So in 1934 year, Seksaria became a member of the New York Cotton Exchange. It was very rare for an Indian at that time and Seksaria retained his membership till his death. Then he also became a member of the Liverpool Cotton Exchange. Later, he also became a member of the Copper, Sugar and Wheat Exchanges of various British and American exchanges
Establishment of Industries
Govindram started his industrial venture in 1937, by establishing Govindram Brothers Private Limited. Under this company, he started vegetable oil business and soon diversified into sugar, textile, minerals, banking, printing and motion pictures. To enter into real estate he established Estate Development Company to manage his vast real estate holdings. In banking, he founded Bank of Rajasthan. He also helped in Indian motion picture development by being associated with Bombay Talkies. He was also principal donor in the establishment of Bombay Hospital.
His Family
His successors Mr.Rajkumar Seksaria and Mr.Nandh Kumar Seksaria manage the bulk of his empire today . They (The Sekseria's) are one of Mumbai's richest family and still are honored in "The New-York Cotton Exchange". Mr. Govindram, gave his daughter a whole building in Mumbai, called Bhagvati Bhavan and even owed a whole building known as Seksaria Chamber .His sea facing residence seksaria building at marine drive is one of Mumbai most expensive pieces of real estate, the family continues to reside here.T hese buildings still stand in Mumbai today. Mr.Govindram Seksarias grand-niece Ayesha Seksaria graduated from NIFT Delhi and is engaged to Mr. Kunal Chopra son of Admiral Anil Chopra.
Death and Legacy
Govindram Seksaria died in 1946 at the age of 58. All the major markets in India including bullion exchange, cotton exchange and stock exchange remained closed in his tribute.NASDAQ in the USA has erected a ziggurat in his honor inside their building. He established many schools and colleges and this trend continued with his son Kudilalji Seksari who established Govindram Seksaria Educational Society in Indore. This educational society then established Shri Govindram Seksaria Institute of Technology and Science and Govindram Seksaria Institute of Management and Research