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Asian Voice Global India Rich List - 2016
49(73)
Ashwin & Mahendra Choksi
Paints - $ 2.6bn
India
H
A
Paints - $ 2.5bn
India
sian Paints was cofounded by Abhay Vakil’s father in 1942. Vakil himself has been associated with the company since 1974. He was managing director 2008-09 and is now a non-executive director in the firm. He was largely responsible for developing its decoratives business unit. He serves as a n o n - e x e c u t ive director in several other organisations.
54(58)
Chandru Raheja
52(49)
Inheritance - $ 2.5bn
Abhay Vakil and Family
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aving joined Asian Paints – India’s number one indigenous paint-maker – in 1965, Ashwin Choksi rose through the ranks to become its managing director in 1984 and its executive chairman in 1997. He has been non-executive chairman since 2009. He is also a non-executive director at Berger Paints. He shares his family fortune with his brother Mahendra, who also sits on the board of Asian Paints.
Rishad Naoroji
52(81)
India
cousin of Adi Godrej, Rishad Naoroji inherited onefifth share of the Godrej family fortune from his mother. He has never been involved in business, but is one of India’s champion environmentalists. He is also an award-winning photographer, who has spent years studying predators in Africa, the breeding ecology of the Pallas’s Fishing Eagle at the Bharatpur bird sanctuary and the biology and ecology of raptors in the Rajpipla forest.
Property Development - $ 2.4bn
India
R
aheja Corp owned by Chandru Raheja controls IT parks, shopping malls and hypermarkets mostly in western and southern India. The firm also has Marriott hotels in Bangalore and near Mumbai’s international airport. It has developed luxury high-rise residential apartments in midtown Mumbai. The group started its Shoppers Stop department store chain in 1991 and now has over 70 such outlets as well as online sales in partnership with Snapdeal. These are listed on the stock market. 23