Srichand Hinduja will be remembered for his business acumen, his philanthropy, and his commitment to ethics.
Srichand P Hinduja, the chairman of the Hinduja Group, one of the world’s largest conglomerates, died on Wednesday at the age of 87.
Srichand P Hinduja was a billionaire businessman and chairman of the Hinduja group. He passed away in London on Wednesday, May 17th, 2023 at the age of 871. The Hinduja Group’s assets include major holdings in listed Indian businesses, from automaker Ashok Leyland Ltd. to Mumbai-based lender IndusInd Bank Ltd
Hinduja was born in Karachi, Pakistan, in 1935. He moved to India with his family in 1947 after the partition of India. He started his career in the family business in 1952.
Known affectionately as ‘SP’ among his business associates and friends, Srichand P. Hinduja was the eldest son of P. D. Hinduja, the Founder of Hinduja Group. SP was the head of the Hinduja Family and Chairman of the Hinduja Group and charitable Foundations.
Led by his vision and leadership, SP along with his brothers, Gopichand, Prakash and Ashok Hinduja, conceived and strategized the diversification and expansion of the Hinduja Group.
Years of business experience in the free market as well as protected economies across Asia, the Middle East, Europe and the Americas has shaped SP’s fundamental belief that a free market economy can improve tolerance and understanding between different people and cultures, thereby benefitting mankind.
SP, a leading Non-Resident Indian (NRI) businessman and head of Hinduja Group, conceived the vision of IndusInd Bank – the first of the new-generation private banks in India – and through collective contributions from the NRI community towards India’s economic and social development, brought the Bank into being.
Under Hinduja’s leadership, the Hinduja Group expanded into a global conglomerate with interests in a wide range of industries, including banking, finance, manufacturing, and media. The group is now headquartered in London and has operations in over 60 countries.
Hinduja was a philanthropist and a strong advocate for business ethics. He was a member of the World Economic Forum’s International Business Council and the International Chamber of Commerce’s World Business Council for Sustainable Development.
Hinduja is survived by his wife, Madhu, and three children.
In a statement, the Hinduja Group said that Hinduja was “a visionary leader who built the Hinduja Group into one of the world’s most respected and successful businesses.” The group said that Hinduja would be “deeply missed by his family, friends, and colleagues.”
Hinduja’s death is a major loss for the business world and for India. He was a towering figure in Indian business and a role model for entrepreneurs around the world. He will be remembered for his business acumen, his philanthropy, and his commitment to ethics.
