Word: arvind
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Dates: during 1960-1969
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...Ratan Mohan, 36, for instance, is India's biggest distiller. But in a nation where opposition to drink is strong and prohibition varies locally from state to state, Teetotaler Mohan has balanced his beer, gin, rum and whisky with breakfast foods, apple juice and catchup. Arvind Mafatlal, 43, who as oldest brother became chair man of Mafatlal Gagalbhai after his father's death eleven years ago, is leading it away from textiles and into more profitable chemicals. He has undertaken joint ventures with both Shell and Montecatini, has a $140 million expansion program under way that will make...
...automatic elevators in the firm's new nine-story building, and is negotiating with IBM for a computer to handle payrolls and inventory. The Mafatlals, on the other hand, follow the tradition of communal living: the brothers and their families all occupy one five-story, 20-bedroom house. Arvind Mafatlal is a vegetarian, prays an hour every morning, insists on consulting an astrologer before he signs a contract or breaks ground for a new plant. "We make our own business decisions," he explains, "but once we have, we want to invoke the blessing...
...foundation to help schools and hospitals, and have given $1,500,000 for a science and technology museum in Bombay. Perhaps they are motivated by a British business rule they were mostly too young to really remember but wise enough to apply to their modern India. Says Arvind Mafatlal: "The private sector can only survive if it proves its value to society...
Prime Minister Nehru once described India as "a bundle of the centuries in which the cow and the tractor march together." Indian business suffers from, and sometimes profits by, such intermingling. Among those who are mastering the combination is canny Arvind Mafatlal, who at 40 is chairman of a $61.9 million family-controlled business that is spreading out from the mills of India's traditional cotton industry into modern petrochemicals...
Private enterprise has been kind to Mafatlal and his business, which was founded by Arvind's grandfather in 1905. Mafatlal lives with his wife and three children in a swank Altamont Road mansion in Bombay's outskirts, is served by a staff of 65. A devout Hindu, he eats no meat, keeps his own herd of cows to supply his family with milk, and wears simple white cotton from his own mills. Mafatlal and other Indian industrialists of his generation are more civic-minded and less apologetic about wielding great wealth than were their fathers and grandfathers. Since...