Lifetime Achievement Award
Among the names in the history books of Indian business, Adi Godrej would prominently feature as one of the finest icons the country has seen. A third-generation entrepreneur, Adi Godrej grew, diversified, and transformed the Godrej brand of consumer products and home utilities into a multi-billion-dollar behemoth of diversified entities.
When Adi Godrej joined the business, it was a small entity with a turnover of INR 10 crore. After completing his education from the MIT Sloan School of Management, Mr. Godrej took over the company when it was in a difficult financial state. Applying process improvement techniques learnt during his management education, Mr. Godrej was able to turn around the company from a loss-making entity into a future-ready business within a year. This was the foundation of the many great things he is credited for introducing to the company.
When the Indian economy was liberalized in 1991, Indian corporations were reeling under the fear of obsolescence from foreign corporations. Mr. Godrej, however, decided to take the bull by its horns. He forged partnerships with global giants like Procter & Gamble and GE Appliances. These partnerships were central to transforming Godrej’s businesses into more efficient and competitive business corporations.
The Godrej Group reported a turnover of more than INR 11,100 crores in 2019 with a consumer base of 1.1 billion in 80 countries. Adi Godrej led the company to complete a 10-year restructuring processes, setting up the stage for high growth and profitability. The modernization of operations unlocked more shareholder value and helped the company to stay market relevant. The restructuring led to a demerger of Godrej Industries and the creation of Godrej Consumer Products Limited. Since 2010, Godrej Consumer Products Limited has made more than 20 acquisitions to expand its portfolio, enter into new markets, and gain access to new technologies.
Friends and family of Adi Godrej often remark that he has an unparalleled sense of observation. He is associated with many philanthropic contributions in key areas including healthcare, education, and the environment. Among the many awards and recognitions which Mr. Godrej has received from media houses, industry bodies, and think tanks globally, the Padma Bhushan he received in 2012 truly stands out.