Meet Lachman Das Mittal, billionaire and ex-LIC agent

 

Lachman Das Mittal is among 828 individuals with wealth of over Rs.1,000 crore: IIFL Wealth Hurun India Rich List 2020.

IIFL Wealth Hurun India Rich List 2020 has recently identified 828 individuals, including 40 women, with wealth of at least Rs.1,000 crore.

One of the wealthy Indians mentioned in the report is Lachman Das Mittal   who started his career as an LIC agent. He is now an entrepreneur and founder of Sonalika Tractors, the third largest tractor manufacturer in India.

With a wealth of Rs.7,700 crore, he is ranked 164th on the IIFL Wealth Hurun India Rich List 2020.

Further, the report mentions that the average wealth of individuals in the list is Rs.7,300 crore with an average age of 63. The list features self-made founders and professional managers, inheritors, CEOs, NRIs, investors, cashed out entrepreneurs and so on.

Yatin Shah, Co-Founder, IIFL Wealth & Asset Management said, “Despite these unprecedented times, it is encouraging to note that the IIFL Wealth Hurun India Rich List 2020 has only grown. The sentiment among entrepreneurs and industry leaders has improved in recent months. India is witnessing multiple themes playing out simultaneously, which include rising wealth creation in Tier 2 and Tier 3 cities, change in behaviour of wealthy families with wealth preservation dominating investment decisions.”

Further, commenting on the analysis of the report, Anas Rahman Junaid, MD and Chief Researcher, Hurun India, said, “The IIFL Wealth Hurun India Rich List is a barometer of the Indian economy, helping us understand which industries have gone up, innovated or gone down. The stories of these entrepreneurs tell the stories of India’s modern businesses.”

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