By 1990, Birla had built a Rs 1,200 crore overseas empire, spread across four countries In the early 1990s, the Aditya Birla Group became the world’s #1 producer of viscose, ditto for palm oil, the third largest producer of insulators and the sixth largest producer of carbon black: all in all, it had 70 plants. To keep modernising, updating, de-bottlenecking, cost cutting and increasing production by technological improvements became Birla’s mantra. In this, the partha, a centuries-old Marwari system of financial monitoring and control, remained sacrosanct.
At the time, the Indian business environment was tough territory. “There were so many restrictions, so many clearances were required,” shared Birla in an interview, “going overseas was the only recourse if I had to make it on my own.” By 1990, shortly before…