Who is KP Ramasamy, entrant to Forbes India rich list with ₹9,431 crore wealth?

Ramasamy founded the KPR Mill in 1984. He expanded into sugar production in 2013 and started selling Faso, a men’s innerwear brand in 2019..

Published on: Oct 12, 2023, 16:09:49 IST

By HT News Desk

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The Forbes India's Richest Indians list was released on Thursday with Reliance Industries chairman Mukesh Ambani emerging as the richest in the country. Gautam Adani was on second spot while Shiv Nadar is third on the list.

Among the richest Indians is KP Ramasamy, the founder and chairman of textiles and sugar maker KPR Mill, who is the new entrant in the list. The textile magnate is currently on the 100th spot with a net worth of $2.3 billion ( ₹9,143 crore).

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Here are five things you need to know about KP Ramasamy.

1. Hailing from an agricultural family, Ramasamy founded the KPR Mill in 1984. He expanded into sugar production in 2013 and started selling Faso, a men’s innerwear brand in 2019. The company, run by Ramasamy and his two brothers, employs 30,000 people, of which 90% are women.

2. Located in Coimbatore, in Tamil Nadu, Ramasamy's KPR Mill produces knitted apparel, cotton and polyester yarn in addition to manufacturing sugar and ethanol.

Photos: Forbes India's100 Richest List 2023

KP Ramasamy's wealth is currently $2.3 billion ( ₹9,143 crore) (Forbes website)

3. According to Forbes website, KPR Mill produces 128 million garments annually ranging from sportswear to sleepwear—that end up on the clothes racks of giants like H&M, Marks & Spencer and Walmart.

4. According to the company's website, KP Ramasamy founded ‘KPR Charities’ a Public Trust, which imparts education through its Educational Institution ‘K.P.R Institute of Engineering &Technology'.

5. The KPR Mill website has stated that Ramasamy has installed several windmills at Tamilnadu and established Co-gen cum Sugar Plant at Karnataka to source green power.

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HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

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