Dilip Sanghvi

Dilip Shanghvi earned his first million primarily through the establishment and growth of Sun Pharmaceutical Industries, which he founded in 1983. Initially, he borrowed ₹10,000 (approximately $200) from his father to start the company, focusing on manufacturing psychiatric medicines. His first product was a single psychiatry drug, which laid the foundation for what would become India's largest drug manufacturer.

Key Steps to Earning His First Million:

• Initial Investment: Shanghvi used a modest capital of ₹10,000 to set up his first manufacturing unit in Vapi, Gujarat.

• Focus on Psychiatric Medicines: By concentrating on psychiatric drugs, he tapped into a niche market that was less saturated at the time, allowing for rapid growth as demand increased.

• Strategic Growth: The business quickly expanded due to Shanghvi's business acumen and strategic decisions, including acquiring other companies and diversifying the product range.

• Market Performance: As Sun Pharma grew, it achieved significant market performance, which helped Shanghvi accumulate wealth rapidly. By the late 1990s and early 2000s, his company had gained substantial market share in both domestic and international markets3

Through these efforts, Dilip Shanghvi not only made his first million but also positioned himself as one of the wealthiest individuals in the pharmaceutical industry globally.