Dharampal Gulati, about 96 years old, has a familiar face in the house. We are talking about Dharampal Gulati, the owner of MDH Spices. He is India’s oldest rich person in the list of IIFL Hurun India Rich 2020. Once they had a total deposit of Rs 1500 only, but today their own wealth has reached Rs 5400 crores. He himself gets a salary of Rs 25 crore annually. The salary of 96-year-old Gulati is higher than the CEO of any other FMCG company. Apart from this, he has been awarded Padma Bhushan. But his success story has not been so easy.
Came to India as a refugee
Maharashtrian Di Hatti (MDH) owner Dharampal Gulati moved to India from Pakistan after the partition of the country in 1947 and started to walk in Delhi. At the time of coming to India, he had only 1500 rupees left, by which he bought horse and tanga for 650 rupees and started running at the railway station. After a few days, he started selling spices on the Ajmal Khan Road in Karolbagh after giving his brother a tanga.
First factory in 1959 at Kirti Nagar
When people came to know about Dharmapala’s spice shop, Sialkot’s Deli chilli ones are now in Delhi, their business continued to expand. The Gulati family set up the first factory of spices in 1959 in Kirti Nagar, capital Delhi. After this, he set up another such factory on Ajmal Khan Road in Karol Bagh. In the 60s, MDH had become a famous spice shop in Karol Bagh.
An elderly rich person in Hurun’s list
The business of MDH spices continued to grow and today it is used in more than 100 countries. 96-year-old Dharam Pal Gulati with assets of 5400 crores is India’s eldest rich person in the list of IIFL Hurun India Rich 2020. In this list, he has been placed at 216th position. According to MDH owner Dharampal Gulati Euromonitor, FMCG has become the highest-paid CEO in the sector. His salary is around 25 million rupees. He is very active even at this stage of age and goes to MDH’s factory, market and dealer every day.
MDH also has offices in London and Dubai
MDH is one of the largest brands of spices and produces 50 different types of spices. MDH has offices not only in India but also in Dubai and London. More than 60 products of MDH are available in the market but the highest sales will be of chilli, chaat masala and chana masala.
MDH Trust for Social Work
MDH is also not far from social work. It runs the Monsieur Chunni Lal Charitable Trust which runs a 250-bed hospital. Apart from this, it also operates a mobile hospital which provides health facilities to the slum dwellers. The Trust also runs four schools and provides financial assistance to the needy.
#person #India #Pakistan #rupees #today #billions #business #country #world