Lakshman Das Mittal
{{Short description|Indian businessman}}
{{Use dmy dates|date=March 2018}}
{{Use Indian English|date=March 2018}}
{{Infobox person
| other_names = Lachhman Das Mittal
| birth_date = August 1931 (age {{age|1931|08|01}})
| birth_place = Hoshiarpur, Punjab, British India
| title = Chairman, Sonalika Group
| children = 4, including Usha Sangwan{{Cite web |date=2023-05-29 |title=Meet Lachhman Das Mittal, India's oldest billionaire with a net worth of Rs 23,000 crore; Know everything about him |url=https://www.financialexpress.com/lifestyle/meet-lachhman-das-mittal-indias-oldest-billionaire-with-a-net-worth-of-rs-23000-crore-know-everything-about-him/3049724/ |access-date=2024-01-02 |website=Financialexpress |language=en}}
| education = Master of Arts (English & Urdu)
| alma_mater = Panjab University
| occupation = Businessman{{cite web |title=Former LIC Agent Lachhman Das Mittal Is India's Oldest Billionaire |url=https://www.ndtv.com/india-news/who-is-lachhman-das-mittal-indias-oldest-billionaire-5378948 |website=ndtv.com |language=en}}
| years_active = 1970–present
| known_for = Founder and Chairman of Sonalika Group
| image = Lachhman Das Mittal.png
}}
Lakshman Das Mittal (also spelled as Lachhman Das Mittal; born in Hoshiarpur in August 1931) is an Indian businessman.{{cite web|url=http://www.vccircle.com/news/finance/2014/03/04/india%E2%80%99s-billionaires-list-rises-all-time-high-56-forbes|title=India's billionaires list rises to all time high of 56: Forbes
|author=Anuradha Verma|publisher=vccircle.com|date=4 March 2014}}{{cite web|url=http://profit.ndtv.com/news/corporates/article-sonalika-group-chief-enters-forbes-billionaire-list-382239|title=Sonalika Group chief enters Forbes billionaire list|publisher=NDTV Profit portal|date=6 March 2014}} He is the owner and chairman of the Sonalika Group.{{cite web| url=http://www.bolteraho.com/10-less-known-billionaires-and-millionaires-of-india/| title=10 less known billionaires and millionaires of india| author=Aditya Pratihast| date=2 December 2015| publisher=BolteRano| access-date=8 May 2018}} He is 82nd richest person of India.{{cite web|url=https://www.forbes.com/india-billionaires/list/2/#tab:overall|title=Forbes India's 100 Richest People 2022 RANKING|publisher=Forbes portal}}{{cite web|url=http://www.afternoondc.in/business-investment/indias-humblest-rich-man/article_69039|title=India's Humblest Rich Man|publisher=Afternoon portal|date=12 November 2012}} with the net worth of USD $2.31 billion. He has been the Chairman of Tractor Manufacturer's Association of India and member of National Council of Confederation of Indian Industry.
Early life and education
Lachhman Das Mittal was born in 1931 in Hoshiarpur, Punjab. Mittal earned a Master of Arts degree in English & Urdu from Panjab University. He began his career as an insurance agent with the Life Insurance Corporation of India (LIC). In 1970 he started producing wheat threshers with the help of local blacksmiths in Hoshiarpur, Punjab. The following year his family went bankrupt and by 1970 his net worth was Rs 1 lakh. He said, "Once I applied for dealership of Maruti Udyog but was rejected. Today, I give out dealerships."{{cite web|url=http://www.business-standard.com/article/beyond-business/the-great-hunger-107080401018_1.html|title=LAKSHAMAN DASS MITTAL: Chairman, Sonalika Group, and Consul General, Republic of Macedonia|publisher=Business Standatrd portal|date=6 March 2014}} According to Forbes, Mittal was ranked 82nd among India’s richest individuals with a net worth of $2.31 billion.
In the Forbes list of India's 100 richest individuals, published on October 9, 2024, he was ranked 54th with a net worth of $5.69 billion.{{Cite web |title=India's 100 Richest |website=Forbes |url=https://www.forbes.com/lists/india-billionaires/}}
Career
Mittal began his business career in 1970 after taking early retirement from the state-owned LIC.{{Cite web|title=Lachhman Das Mittal|url=https://www.forbes.com/profile/lachhman-das-mittal/|access-date=2021-07-13|website=Forbes|language=en}} Sonalika started manufacturing thrashers in 1970.
In 1970, he founded Sonalika Group, and in 1996, he established Sonalika Tractors, which went on to become India's third-largest tractor manufacturer by market share.{{Cite web|title=About Us- Budget tractor from Sonalika Tractor Company|url=https://www.sonalika.com/about-us.html|access-date=2021-07-13|website=www.sonalika.com}}
Mittal later transferred the leadership of the Sonalika Group to his sons, Amrit sagar Mittal and Deepak Mittal.{{Cite web|title=Lachhman Das Mittal: Tractor Master|url=https://www.forbesindia.com/article/india-rich-list-2015/lachhman-das-mittal-tractor-master/41355/1|access-date=2021-07-13|website=Forbes India|language=en}}
References
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Category:Businesspeople from Punjab, India
Category:People from Hoshiarpur
Category:21st-century Indian businesspeople