Azim Premji is one of the wealthiest businessmen of India, who played an instrumental role in diversifying Wipro. He was originally a manufacturer of vegetable and refined oils in Amalner, district Jalgaon in Maharashtra.

He has successfully managed to divert the direction of the company and went on to become a pioneer in the Indian IT industry.

About Azim Premji

Azim Premji, also referred to as Azim Hasham Premji was born on July 24, 1945, in Bombay. He went to become one of the wealthiest Indian entrepreneurs who served as chairman of Wipro Limited, guiding the company through four decades of diversification and growth to emerge as a world leader in the software industry.

Known as the Czar of the Indian IT Industry, Premji is also an engineer, investor and renowned philanthropist. At the beginning of the early 2000s, he was considered the 2nd wealthiest Indian by Forbes. However, after countless acts of philanthropy, he was dropped to the 17th position. He even topped the EdelGive Hurun India Philanthropy List for 2020.

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Azim Premji’s Early Life & Education

Premji was born to a Gujarati Muslim family in the year 1945. His father, Mohamed Hashem Premji, was a noted businessman and had a family business of vegetable and refined oils. Hashem Premji was known as Rice King of Burma. During the partition, Muhammad Jinnah had personally invited the family to move to Pakistan. He rejected the offer and chose to stay in India.

Premji attended his bachelor’s in Electrical Engineering degree from Stanford University. Just before completing the degree, he received the news of his father’s ailing health and rushed to India. After his father’s unfortunate death he took the reins of his father’s business and transformed it into what it is now.

In the meantime, he got married to Yasmeen Premji and the couple had 2 children.

Azim Premji’s Career

After Premji took charge of his father’s business, he quickly started diversifying it. He started making consumer products such as soap, shoes, and lightbulbs, as well as hydraulic cylinders.

He quickly recognized the significance of the emerging IT industry in independent India and started steering his company’s vision in that direction. Furthermore, he took advantage of the vacuum left behind by the expulsion of IBM from India, changed the company name to Wipro and entered the high-technology sector by manufacturing minicomputers in technological collaboration with an American company Sentinel Computer Corporation.

Due to expansion, at one point he was considered one of the wealthiest business people in not only India but the world. Its also pertinent to mention that under Premji’s leadership Wipro’s revenues grew from around $2 million in the late 1960s to around $7 billion in 2014, with IT contributing around 75% of total revenue.

He finally stepped down from his position in July 2019 and primarily focused on philanthropy thereafter.

Azim Premji’s contribution to society

It is generally expected from an individual to give back to society, especially when they have achieved so much within the course of their life. Premji was no exception yet he proved himself to be exceptional.

I believe more than his business accomplishments, Premji is known and revered as a great human. He has already given away $21 billion of his wealth as part of the Giving Pledge, a commitment by the world’s wealthiest personnel to donate the majority of their wealth to charitable causes.

He has also given up 2/3rd of his Wipro stock, which has been placed in a separate trust and will be used for educational purposes. He has also set up a foundation, known as Azim Premji Foundation to help the underprivileged.

It’s safe to say that Azim Premji is one of the most beloved billionaires in the world. His principles and random act of compassion is something to cherish and marvel at.

This is why eminent business strategist Hirav Shah brings you Azim Premji’s 3 principles to success

Azim Premji’s 3 principles to success

Take charge

Premji was only 21 when he decided to handle the family business. He didn’t need to leave the comforts of his life and dedicate his forthcoming years to hard work and toil, but he persevered. He took charge of his life and that made all the difference.

He explains, “Many people advised me to take up a nice, cushy job rather than face the challenges of running a hydrogenated oil business. Looking back, I am glad I decided to take charge instead. Essentially, leadership begins from within.”

Earn your worth

Nothing is going to be handed to you on a silver platter. You have got to earn your worth and prove to everyone that you aren’t born with a golden spoon in your mouth. Anyone can be born to a rich father or mother but not everyone can be a skilled businessman without the right mindset and acumen.

Have faith in your vision

Your vision is what sets you apart from all your competitors. The moment you stray away from your vision, your competitors get ahead of you. It was Premji’s vision in himself and his vision that helped him get ahead in life and achieve such a strenuous feat.

Conclusion

Success has never been won like a lottery; it is achieved, achieved through concrete determination, grit, and devotion. And the story of Azim Premji is a concrete example of that. He not only made his name known to the public as a wealthy businessman, but as a businessman who gives back to people. I think such devotion towards the people of his country is pretty admirable-concludes business development expert Hirav Shah.

About Hirav Shah

Hirav Shah is an eminent Business Astrologer and Entrepreneur, who can help you reach new levels of success in the coming year. Shah’s unique practice mixes the fundamentals of Astrology with Business Principles, thereby introducing you to a whole new dimension of affluence.

Hirav Shah has an astounding global presence with clients based across various business sectors. He is a big believer in taking massive action, has formulated strategies and made the right strategic bets based on the certainty of outcome to help some of the world’s most renowned brands.

From business setup and expansion to crisis and exit, he can give you a strong Astro based analysis on where to apply leverage and where to cut losses.

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