Gandhinagar (Gujarat) [India], October 4(ANI): Uttambhai Nathalal Mehta, the founder of the diversified Torrent Group, is remembered as a luminary of Indian industry, who pioneered indigenous production of medicines at a time when the Country was import-dependent for crucial drugs and subsequently built world class power generation and distribution assets at a time when India was crippling under severe power shortages.
Through Vibrant Gujarat Regional Conferences (VGRC) initiative, the state government is showcasing how a visionary leader like U.N. Mehta can transform regional economies and foster inclusive growth through hard work and determination, an statement from a Gujarat Chief Minister’s Office (CMO) said.
His journey from a humble background to building a successful corporate empire is a testament to the entrepreneurial spirit of North Gujarat.
U.N. Mehta was born in Memadpur village of Banaskantha to an extremely poor family and had lost his mother at the young age of 2 years. After finishing schooling, he moved to Mumbai, where he completed his graduation in chemistry from Wilson College.
Despite having a keen interest in higher studies, the family’s financial constraints compelled him to take up a government job in 1944.
He later worked as a medical representative for a multinational pharmaceutical company, Sandoz, from 1945 to 1958.
In 1959, he took a courageous step to embark on an entrepreneurial journey by establishing a pharmaceutical company – Trinity Laboratories (now Torrent Pharma) in Ahmedabad, with a small seed capital of just Rs 25,000. This was his first attempt at manufacturing medicines. Success wasn’t easy.
He weathered many health challenges, such as being diagnosed with mental health issues at the age of 39 years due to the side effects of a medicine that was prescribed to him and being diagnosed with an extremely rare form of cancer at the age of 53 years and, lately, the onset of cardiac problems ultimately leading to a bypass surgery at the age of 62 years, the statement added.
He failed in his first attempt at setting up a business and had to return to his village for many years. But without losing his morale, he persisted in his efforts, guided by a clear life motto, and at the advanced age of 48, he succeeded in his second entrepreneurial attempt: setting up a Pharmaceutical business.
This mission-driven approach, born from his personal experiences, was a rarity at a time when the market was dominated by multinational corporations.
In 1968, Mehta made a pioneering move by marketing psychiatric medicines, a bold and unusual step for any Indian-owned company at the time. It was this focus on “niche marketing” and a relentless pursuit of excellence that laid the foundation of the Torrent Group, which now has significant interests in healthcare, energy and sports sectors.
Besides being a passionate entrepreneur, he is also revered as an empathetic leader, an inspiring fighter who took on life’s challenges courageously and a committed social citizen.
He identified social needs of the time and focused his philanthropic interventions around them. Under these interventions, institutions like the U.N. Mehta Institute of Cardiology & Research Centre (UNMICRC) have been built that continue to cater to the underprivileged sections of the society even after three decades in operation, the statement added.
UN Mehta’s wife, Shardaben, has left behind a legacy of philanthropic works, particularly in advocating for girls’ education and supporting children’s healthcare. She also played a key role in the establishment of UNMICRC.Their four children – two sons, Sudhir and Samir, and two daughters, Meena and Nayna – follow the path of their parents by contributing for societal welfare while also ensuring business sustenance. Shri Mehta’s remarkable life serves as a beacon of hope for people who have lost all hope in life.
The Torrent Group’s market capitalisation stood at USD 21.5 billion as of March 31.
In honour of Shri U.N. Mehta’s birth centenary in 2024, the Mehta family pledged to donate Rs 5,000 crore over five years to the UNM Foundation for Healthcare, Education & Knowledge Enhancement, Ecology, Social well-being, Arts & Culture and other activities that may serve the basic premise to benefit the underprivileged. (ANI)
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