Business circles are watching Omkar Singh Kanwar’s journey as an inspiring example of perseverance. From Partition-displaced beginnings to nearly selling his business for just one rupee, he is now the chairman of Apollo Tyres, a company worth more than Rs 30,910 crore, showing that grit can survive any crisis.
Who is Omkar Singh Kanwar?
Apollo Tyres Limited’s visionary chairman is Omkar Singh Kanwar. He was born in 1942 in Sialkot, which following India’s partition became a part of Pakistan. His family left everything behind to start over in India, just like millions of others. His father, Raunak Singh, laid the groundwork for the family’s business legacy by establishing a pipe manufacturing unit. After completing his education in the United States, Omkar returned to India in 1964, not just to join the family business, but to build something much larger.
How Did Apollo Tyres Began their Journey?
Omkar Singh Kanwar founded Apollo Tyres in 1972, steering the family’s industrial expertise into tyre manufacturing. The company was his brainchild and ambition. However, the path was not smooth. Just three years later, during the Economic Emergency of 1975, the company hit a severe financial crisis. The economic climate was so dire that his father, Raunak Singh, was ready to sell the struggling company for a symbolic sum of just one rupee. This was the lowest point in the company’s history.
How Did He Save Apollo Tyres?
Faced with collapse, Omkar Singh Kanwar made a pivotal decision. He refused to sell and instead took full charge of the company. He worked to restore Apollo Tyres from the ground up, strengthening product quality, improving operations, and encouraging innovative thinking. His dedication gradually moved the company toward recovery and expansion.
What is the Apollo Tyres Empire Today?
Under Omkar Kanwar’s decades-long leadership, Apollo Tyres has grown into a global powerhouse. Apollo Tyres now runs seven world-class plants and is present in more than 100 countries. Its affiliation with the Indian Cricket Team has contributed to its recognition as a brand in India. Kanwar has also entered the healthcare field with the Artemis Hospitals in Gurugram.
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What is Omkar Singh Kanwar’s Net Worth Today?
The financial success of his perseverance is staggering. Omkar Singh Kanwar’s current net worth is estimated at $1.6 billion (approximately Rs 14,046 crore). The company he saved from being sold for one rupee is now a colossal Rs 30,910 crore empire. His journey from immigrant to CEO of a multinational corporation is a potent leadership lesson, showing entrepreneurs that perseverance is more important than luck in achieving success.
