Oswal family scion Suchita Oswal Jain is the wealthiest woman residing in Punjab, as per the recent Kotak Private Banking Hurun Leading Wealthy Women list. Her net worth is pegged at a whopping Rs 930 crore, making her the 52nd richest woman as per the list. She resides in the industrial city of Ludhiana in Punjab.
Suchita is the Vice Chairman and Joint Managing Director of Vardhman Textiles, India’s leading textile manufacturer. It is a listed company with a market cap of over Rs 11500 crore. The 60 year old company was founded by Suchita’s grandfather Rattan Chand Oswal. Her father SP Oswal is the Chairman of the company and a Padam Bhushan awardee.
Suchita was passionate about textiles and fabrics from an early age. She joined the family business at a young age back in 1990. She is an MBA from the London Business School. Few women were leading big companies at the time but Suchita was supported by her father.
She started out streamlining processes across departments and today is involved in group strategy, corporate services, CSR initiatives, governance policies, sustainability initiatives among other aspects of the business. Vardhman Textiles went from being a yarn producer to a fabric giant and one of the biggest textile conglomerates.
Suchita is a champion of women empowerment. Her company employs over 35 percent women in its workforce. It was also the first in Punjab to attain the government’s approval for women to work night shifts.
Inputs and image credit: Kotak Private Banking Hurun Leading Wealthy Women list
