Making it Big
Author: Binod Chaudhary
Publisher: Penguin, Rs 399
Nepal’s first billionaire and the founder of Wai Wai noodles, Binod Chaudhary, talks to ANANYA BORGOHAIN about running a business empire in his country, his association with India, and his personal life
Chairman of Chaudhary Group, a conglomerate that runs 80 companies, Binod Chaudhary, also happens to be Nepal’s first and only billionaire. In his autobiography, Making it Big, he recalls how difficult it was initially for his Indian immigrant parents to set up their business in the country where the royal family had monopolised economy and how the CG Group has evolved over the years. In an interview, Chaudhary delves deeper into the role of women in his conglomeration, business in Nepal after the 2015 earthquake, and his association with India.
You mention that you did not find a “modern, fashionable, forward-thinking” woman compatible for marriage. like you say, you were running a discotheque yourself and had caused many sleepless nights for your parents but “gentlemen prefer blondes but marry brunettes”. Being a global icon yourself today, your opinions may have varied, I am assuming. How has your perception changed over the years since thenIJ
When I was looking for somebody modern and fashionable, I was also thinking of somebody with wisdom, receptivity, flexibility and a broad mind. In my wife lily, I found everything. She was beautiful and wise. She had all the qualities I was looking for. And I consider myself lucky to have her in my life. My thoughts are still the same to this age. And I think that saying is what a person with minimum understanding and intellect would think. If I could, I would rephrase it as, “blonde or brunette, gentlemen prefer beauty with brain.”
In your autobiography, women have been discussed within a domestic space; with the exception of Princess Prekshya and Jaya Bachchan. How involved are the women of your family in the businessIJ
I have always found that women are far more dedicated and reliable when it comes to workplace. Out of our 10,000 work force, at least 50 per cent would be women, if not more. Even at leadership level I find them extremely dedicated and committed. Among our business verticals, Education, Hospitality and Chaudhary Foundation are led by women. As far as family is concerned, they have to maintain a delicate balance between their duty to run a happy and efficient home as well as contributing to the business side at various levels. It’s not a trade off that can lead to serious imbalances.
How did the erstwhile royal family of Nepal monopolise the economyIJ
It’s very difficult to generalise. During the Panchayat era certainly the royal patronage had a major role to play in one’s own growth. It was a stage of controlled economies and full of license raj. But it will be unfair to generalise. There are many who were good as well.
How conducive is business in Nepal todayIJ You write that it is crucial to have the right contacts for effective business there.
Yes, it is true that you need to have right contacts for effective business in Nepal. I think that is true for doing business in any part of the world. But in the developing and less developed worlds, it is more crucial than the developed nations. In countries where rule of law is weak and certain parties and leaders are stronger than the system, you need to have good personal relations with them. But in Nepal, the business environment is good these days. It is strategically situated between two economic giants. And the political situation is more stable compared to many less developed countries. I would say it is the right time to invest in Nepal.
Assam was supposed to be the first plant for CG Food India but then it happened to be Sikkim because it served better prospects. Which other regions in India do you find advantageous for business and whyIJ
We are operating in more than 10 States in India and by and large all States are competing to attract investments and support investors. I have not encountered any major problem in establishing or operating our business. In fact, we enjoy very positive relationships with the bureaucracy and political leadership in all these States based on mutual respect.
Why did you choose to add an entire chapter on MumbaiIJ What does the city mean to youIJ
Mumbai is the economic capital of India and is integrated with the world in so many ways. It is also the epitome of our grounds entry into hospitality with the Taj group, a partnership which we cherish and respect the most. Since then our presence in Mumbai has expanded in other areas including a majority stake in the Fern group of hotels. I am also personally fascinated with Mumbai as is evident from reading the book.
You are an ardent devotee of Sri Sri Ravi Shankar. How do you react to the controversies and criticism he is often associated withIJ
On the contrary, I feel he is the least controversial and most respected spiritual guru of our times. I have seen he lives for larger welfare of humankind through 160 chapters and ashrams all over the world. His mission is selfless and comprises love and compassion.
What is the work culture in your corporation likeIJ What core ethics do you want your employees to haveIJ
At CG Corp Global, we follow the seven core values: Humility, Entrepreneurship, learning, Respect for Individual, Social Responsibility, Team Work & Relationships, and Delivering the Promise. Our fundamentals are strong that are based on principles of humanity and humility. We work to uplift society around us.
With so many flourishing businesses, what other interests/hobbies do you cultivateIJ
Apart from doing business, I rejoice in serving the people. People cultivate hobbies as a way out of their daily lives, to have some relaxation and joy out of regular work. The source of my inner happiness is the smile in the faces of the people. Currently, we are focusing on rebuilding Nepal after the devastating earthquake of last year. We have a commitment of building 10,000 transitional homes for the earthquake survivors and 100 schools damaged in the earthquake. We are working towards that end. When I visit the sites where we are working and when I meet the people, I feel a great sense of satisfaction. If I still have time apart from business and social initiatives, I like to play golf and go trekking.
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