In the nineteenth century, a tiny community from the deserts of Rajasthan spread out to every corner of India. The Marwaris controlled much of the country’s inland trade by the time of the First World War. They then turned their hand to industry and, by the 1970s, owned most of India’s private industrial assets. Today, Marwari businessmen account for a quarter of the Indian names on the Forbes billionaires list.
What makes Marwaris so successful? Is it their indomitable enterprise, or their incredible appetite for risk? In this new book, Thomas Timberg shows how the Marwaris rely on a centuries-old system for conserving and growing capital which has stood them in good stead, alongside a strong sense of business ethics which has earned them respect.
Family businesses in general and the Marwaris in particular might have a vital role to play in shaping India’s economic future. This book tells us why