Diversification is the name of the game. In today’s fast paced world, companies that limit themselves to just one sphere often tend to lag behind, or go out of business altogether.
This is especially true for the private sector where cut-throat competition exists. Therefore, it becomes imperative that a business grows and expands across all verticals.
Sujana Group of Companies, which started out as a small domestic fans and home appliance manufacturer, adopted the same approach. When self-taught entrepreneur YS Chowdary founded the company, the Indian economy was still in a fledgling state.
Liberalization was in its infancy and the Rajiv Gandhi government sought to adopt a laissez-faire approach towards economic reforms.
Being the visionary that he was, YS Chowdary saw an opportunity where most did not. He understood that as the market opened up, new avenues of growth would materialize. The goal was to prep Sujana Group in anticipation for this change.
India had just begun its journey of economic transformation in the 80s. Consequently, demand for various materials began to multiply. The infrastructure and steel industry, in particular, needed investments.
It was the exact moment YS Chowdary had been waiting for. Sujana Group of Companies had made inroads into the steel industry; starting out with steel rolling operations, before moving on to galvanized steel towers.
Sujana Group established itself as one the key medium-size players and is classified as a secondary steel producer. Its trademark, Sujana TMT, has become an industry benchmark. Additionally, Structural and Smart Steel (readymade steel), Sujana Plus (premium steel for mega constructions), Cold Twisted Deformed (CTD) bars, MS Angels and MS Bars Heavy Structural steel.
The next logical step was infrastructure. A growing India needed buildings and facilities to sustain her progress. Addressing the bottlenecks related to infrastructure would be Sujana Group’s next objective. As luck would have it, 10 school mates of YS Chowdary joined him in this endeavour and the new project took off without a hitch.
A paradigm shift in the global economy at the turn of the century has brought forward many challenges. Key issues like power and the environment have taken center stage and pushed businesses to come up with innovative, yet effective solutions. Sujana Group adapted to this new normal and taken the plunge into various other sectors, including healthcare, international trade, and hybrid energy systems.
It has been three decades since the Sujana Group of Companies was founded. In that time, it has gone from strength to strength, making significant contributions to the economy as well as nation-building. The company’s journey is a testament to the fact that a diverse portfolio is a necessity for success in the business world. It also highlights how private players are essential in the larger scheme of things.
India’s vision of becoming a USD5 trillion economy by 2025 is an achievable one. The role of the private sector in this very crucial. Investments in physical infrastructure, besides healthcare, will be drivers of growth. Looking at the unfolding situation, it is undeniable that private players like Sujana Group hold the key to unlocking these plans.
The Sujana Group today is uniquely poised to play an important role in India’s economy thanks to the vision and leadership of Mr. Chowdary. After almost thirty years at the helm, YS Chowdary decided to take up a new challenge. In 2004, he relinquished his executive positons in all the companies under the Sujana Group and handed over the reins to an independent board of directors. Furthermore, in 2014 he relinquished his directorship and all economic interest in the Sujana Group of Companies.
Free from the constraints of the corporate world, Mr. Chowdary set out on a path that fascinated him since childhood: public service. He finally realized this dream in 2010, when he was chosen to represent Andhra Pradesh in the Rajya Sabha on a Telegu Desam Party (TDP) ticket.