Wadia Group A caring business that has helped India to grow for almost 300 years

India is set to be the world's fastest-growing major economy for the second year in a row in 2022, likely growing at almost double the speed of China; 8.2% this year compared to 4.4% for China, according to the International Monetary Fund (IMF). This will be a boon for businesses operating in India, with vast sections of the economy set to rapidly expand to meet domestic demand.

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Today, India can provide nearly everything it needs; our agriculture is self-sufficient. That was the base that changed India," says Nusli Wadia, chairman of Wadia Group, an investment company headquartered in Mumbai.

Wadia Group's history goes back to 1736, when Loeji Nusserwanjee Wadia, the company's founder, opened a marine construction company that built ships for the British. Wadia became one of India's first master shipbuilders and a pioneer in the global shipbuilding industry; Bombay's dry dock, the first dry dock in Asia, was built by Loeji and his brother Sorabji 1750. "There is a small museum there now," says Wadia.

With the invention of the steamship, however, the company changed its focus, expanding into areas like textiles, chemicals, plantations, consumer goods, and aviation. Today, four of the group's companies are publicly listed, with many having long and storied histories. "Our textile business started in 1879; currently we have one of the three oldest companies in India," says Wadia.