2001 The Murugappa Group, India
The Murugappa Group
The Murugappa Group, headquartered in India has grown from humble beginnings as the dream of a driven entrepreneur in Burma in the early 1900s. The family traces its business history to 1760 when the great-great great – grandfather of the founder was active in trading and money lending.
The Murugappa Group and family also continue to build on the example of philanthropy. The family’s trust, the AMM Foundation, is sustained by a fixed percentage of annual business profits and family contributions. By 2001 it had built and nurtured four high schools of 8000 students, a polytechnic institute of 1000 students, four no-fee hospitals and a rural research center.
The Group included then seven substantial business units comprising 27 companies in a variety of industries. Their interests include abrasives, agro-chemicals, bicycles, chains, industrial tubes and roll forming, rubber, tea and coffee plantations, sugar mills, sanitary ware, confectionery, and financial services of brokerage, vehicle finance, insurance and mutual funds.