The well-known title Fevicol, owned by the Indian firm Pidilite Industries, first got here into impact in 1959. It was launched as an easy-to-use adhesive for carpenters. Fevicol, which is used as a gum, is used for bonding paper, cardboard, thermocol and plywood. The model is at present marketed in 54 international locations, together with over 50,000 places in India.
Though everybody may be very properly versed within the Fevicol model, not many individuals know the person behind the model. It’s none aside from Balvantray Kalyanji Parekh, also referred to as ‘India’s Fevicol Man’. He’s the primary era entrepreneur for post-independence India, who launched Pidilite Industries to the Indian markets in 1959.
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Regardless of having a legislation diploma, Balvantray began his personal enterprise, pushed by entrepreneurial ambitions. Fevicol was his brainchild, which acted as a transformative power for carpenters, engineers, craftsmen and most people. At the moment let’s discover the lifetime of Balvantray Parekh, the person who launched Fevicol to the world.
The early lifetime of Balvant Parekh
Balvantray Kalyanji Parekh was born in a Jain household within the city of Mahuva in Bhavnagar district of Gujarat. After finishing his preliminary training in Mahuva, he obtained his legislation diploma from Authorities Legislation Faculty Mumbai. Balvant’s father wished him to develop into a Justice of the Peace like his grandfather. However like each Gujarati, Balvant wished to be a businessman. Not many individuals know this, however Balvant took half within the Give up India Motion.”
Balvant Parekh’s first battle
Whereas finding out legislation, Balvant married Kantaben, and with none job in hand, the duo confronted monetary burdens. To assist himself, Balvant began working in a dyeing and printing press. Later he joined a lumber firm as a peon and lived within the warehouse. Right here Balvant began making contacts and offering an inventory of import-export gadgets, recycled, areca nut and paper dyes from the West.
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Balvant Parekh’s first massive break
It was whereas working at an organization that represented Hoechst in India that Balvant bought his first massive break. He was invited to Germany for a month by the director of Hoechst in 1954. When the corporate determined to go it alone after the dying of its director, Balvant alongside along with his brother Sushil Parekh began a dyeing and chemical unit titled Parekh Dyechem Industries. . At Parekh Dyechem, Balvant began producing pigment emulsions for textile printing and acrylic-based dyes.
How did Balvant Parekh begin Fevicol?
Throughout this time, Balvant realized that the Indian glue market was dominated by glue constructed from animal fats, and it was then that he thought of producing white glue, which he known as ‘Fevicol’. The product was established in 1959 underneath the model title Pidilite Industries Non-public Restricted. The title ‘Fevicol’ is impressed by the German firm that made the same product ‘Movicol’. The phrase ‘col’ means one thing that connects two issues and ‘Pidi’ comes from ‘Parekh Dichem.’
Fevicol emerged as an easy-to-use adhesive for woodworkers. From fixing damaged dishes to repairing furnishings, folks relied on the Pidilite model to offer high quality glue with a resilient nature. Along with Fevicol, Pidilite later launched merchandise resembling Fevikwik, Dr. Fixit and M-Seal. In 2006, Pidilite centered on worldwide enlargement with factories in the US, Thailand, Dubai, Egypt and Bangladesh.
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The well-known Fevicol emblem with the ‘Elephant image’ was created by Ogilvy and Mather and have become an prompt hit with shoppers. Fevicol’s artistic industrial and commercial had been a success within the 80s and 90s. Over time, Pidilite Industries has constructed a huge title within the client market with a internet value of roughly USD 44.65 billion in 2020.
Balvant Parekh’s achievements and contributions
Balwant Parekh struggled so much to attain his desires. His perception that nothing is unimaginable if you chase your desires turns into actuality along with his willpower. Moreover being a profitable entrepreneur, Balwant Parekh has additionally completed numerous social work. He helped and supported in beginning an arts and science college in Mahua, Gujarat.
He additionally donated Rs. 20 million for Bhavnagar’s Science Metropolis challenge. In 2009, the enterprise magnate based the Balvant Parekh Heart for Normal Semantics and Different Human Sciences in Baroda, Gujarat. In 2011, the Institute of Normal Semantics in Texas awarded him the distinguished J Talbot Winchell Award. He’s the primary Asian to obtain this honor.
Balwant Parekh has usually been praised as a outstanding particular person with a posh character. He was a voracious reader and his private library mirrored his curiosity in literature, science, legislation and medication. He was ranked forty fifth on the Forbes Asia checklist with a fortune of USD 1.36 billion.
Balvant Parekh handed away in 2013 on the age of 88. After his dying, his son, Madhukar Balvantray Parekh, took over the administration of the corporate and is operating it efficiently. In line with a 2019 report, Madhukar was declared the sixteenth richest Indian with a internet value of $7.5 billion.
Balvant Parekh’s journey from a peon to India’s Fevicol Man is an inspiration to thousands and thousands. He proved that desires develop into actuality if the method is in the best route.
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