Something more eventful than the budget happened last week. It was the inter-se transfer of a title between two Gujaratis – that of the richest Indian. The significance is more than of mere riches. India’s richest over the past 30 years usually carried stigmas about how they got there. The journey was usually not clean and marked by unmentionable hubris. Dilip Sanghvi has made it in style taking a journey marked by clean entrepreneurship and good governance. It is a Warren Buffett moment for Indian wealth. That you could be the wealthiest and yet carry a formidable reputation in ethics and governance is a first in Indian business history. To the future, this is a sign of the changing mosaic of Indian entrepreneurship. More people will climb the ladder right to the top. Surely, these are great times for Indian business.
“Cycles always prevail eventually – Howard Marks.”