Many stories of the struggle and success of veteran industrialists are heard in the country. Many business people who have reached the pinnacle of success have come a long way for success. We will tell you the story of a businessman who started his business at the age of 60 and then came to the brink of poverty but did not lose courage today is the owner of a company worth 20,000 crores.
It is surprising that at the age when people retire, Laxman Das Mittal started doing business. He is the Sonalika Group’s chairman, India’s third-largest tractor manufacturer. At the age of 92, Laxman Das Mittal is the second oldest billionaire in India.
The story of becoming a business tycoon from a LIC agent
Interestingly, Lachhman Das Mittal was once a LIC agent who worked hard to build his business. For this, Laxman Das Mittal started a business at the age of 60 and entered into tractor manufacturing in 1996, and established Sonalika Tractors. Generally, at 60, people like to retire and live a happy and peaceful life, but Laxman Das Mittal did not stop working and struggling even at this age.
Started business by saving money from salary
In 1955, Laxman Das Mittal started working as a LIC agent. Since then, he has started saving some money from his salary. Laxman Das Mittal used all his savings to set up a side business related to agricultural machines, but Laxman Das Mittal went bankrupt. However, he did not give up, and after a few years, he tasted success due to his struggle. Laxman Das Mittal has also been awarded many national and international honors. These include the prestigious Udyog Ratna Award.
Active even at the age of 92
Laxmandas Mittal’s tractor company has a strong business in North Indian states. Sonalika tractors have been the farmers’ choice in Punjab, Haryana, and Western Uttar Pradesh villages. Even at the age of 92, Laxmandas Mittal looks after the company’s affairs. Apart from this, Laxmandas Mittal also handles his family business Sonalika Implements.
Sonalika Implements manufactures sowing machines and wheat threshers. Sonalika Tractors has a huge manufacturing plant in Hoshiarpur, Punjab. Sonalika Group has 5 plants located in five different countries. The company exports tractors to more than 120 countries.