100 Years of Essel Group: How a start-up mindset powered a century of growth and reinvention

Multi-faceted Indian conglomerate Essel Group has completed 100 years of its journey, marking the historic milestone with a focus on the start-up persona and entrepreneurial spirit that the Group says has remained central to its evolution over the last century.

A century of evolution across sectors

Celebrating the occasion under the theme “Impression of a Century,” the Group reflected on a journey that began in 1926 in Adampur near Hisar and gradually evolved into a diversified business presence spanning packaging, amusement parks, home entertainment, news, content distribution, infrastructure, real estate, education, technology, lifestyle and several other sectors.

According to the Group, since 1967, it has continuously reinvented itself by transitioning from a traditional business model into a global conglomerate with a start-up culture. It stated that its traditional commodity trading business later pivoted towards Army supplies and cross-border trade, while several of its businesses went on to become pioneering initiatives with many industry firsts to their credit.

Building around a start-up mindset

The Group also stated that while nurturing its start-up mindset and maintaining a sharp focus on profitability, it did not hesitate to close businesses that did not achieve desired value-delivery levels.

Overcoming challenges through the years

The Group’s narrative around its 100-year journey also emphasises persistence and long-term thinking. It describes business as a journey driven by continuity and patience rather than shortcuts, highlighting values such as leadership, vision, the ability to take risks, a never-give-up attitude, service to humanity and a spirit of national interest.

The journey began under Late Ram Gopal and expanded under Jagannath Goenka, with support from Nand Kishore. It was later spearheaded by Dr Subhash Chandra and his brothers—Laxmi Narain, Jawahar and Ashok Goel. According to the Group, it is among the few Indian business conglomerates successfully carrying forward its legacy into the sixth generation, while the fourth and fifth generations continue to remain active.

The Group’s narrative notes that the journey was marked by periods of struggle, risks and challenges. It states that over its history, Essel Group faced five major economic crises but continued moving forward through long-term thinking and patience.

Dr Chandra reflects on the 100-year milestone

Reflecting on the milestone, Dr Chandra said, “Essel Group’s journey has been one of persistence, resilience, innovation and growth. Our belief that progress must create value for the society and Nation at large has guided the pioneering steps undertaken by the Group across every business dimension. Me and my brothers are extremely proud to mark this momentous milestone of 100 years that has been built by generations of vision and courage to venture into the unknown and truly leave an imprint of a century across every industry. Essel Group’s journey has evolved alongside our Nation, and I am proud to note that together, we have unlocked economic value and enabled social transformation to drive national progress.”

The “India’s First Start-Up” vision

As part of the centenary celebrations, Dr Chandra addressed over 10,000 employees globally during a special town hall, where he reflected on the Group’s journey and recognised the role played by employees in carrying forward its legacy.

Dr Chandra reiterated that, as 'India’s first start-up', Essel Group continues to innovate and take bold steps for the future, further urging employees to nurture the entrepreneurial spirit as the creators for the next century.

Over the last 100 years, the Group said its initiatives have contributed to building not only companies but entire industries, while generating employment opportunities for more than 10 million people across the country and positively impacting lives across more than 190 countries.

Looking ahead, Essel Group said it plans to continue expanding into newer business segments while strengthening its content, technology and digital capabilities. The Group stated that technology will remain a key focus area as it seeks to build integrated, future-ready platforms aligned with India’s growth ambitions.

As it enters its next century, the Group said it aims to continue building on its entrepreneurial culture while creating opportunities and driving innovation for the future.