The life journey of billionaire businessman Satyanarayan Nuwal, who founded Solar Industries India in 1995, is a typical rags-to-riches story and it highlights the importance of unwavering hard work, persistence and determination to achieve success.
Satyanarayan Nuwal belongs to a middle-class family who was born in Bhilwara, Rajasthan. Nuwal’s father was a government employee but Nuwal was passionate about doing business from a young age and he fulfilled his goal by establishing an ink manufacturing unit when he was only 18. The business failed later but Nuwal persisted and kept on trying several businesses before establishing a company now worth Rs 36,000 crore.
Nuwal’s life has been full of adversities and there was a time when he used to sleep at the railway station because of lack of money. He dropped out of school after Class 10 and never went to college due to the responsibilities of sustaining the family.
His father was a patwari and after his retirement in 1971, the family went through a lot of hardships. Nuwal married when he was just 19. In 1977, Nuwal came to Balharshah in Chandrapur district of Maharashtra and this transformed his life forever. In Balharshah, Nuwal met Abdul Sattar Allahbhai, who was a dealer in explosives used for digging wells, building roads and digging mines.
After some months, Nuwal started a business with Abdul Sattar by paying Rs 1,000 a month to Abdul Sattar. Initially, Nuwal paid money to Sattar to use his license to trade in explosives. Thereafter the officials of Imperial Chemical Industries, a British firm, noticed Nuwal and this opened new avenues for him. Nuwal’s company currently produces everything from explosives and propellants to grenades, drones and warheads as part of the Make in India mission. The market value for the solar industry grew 1,700% in a decade. From 1,765 crores in 2012, the business has scaled more than Rs 35,000 crore by November 2022. While Nuwal's net worth rose to USD 2.2 billion (around Rs 19000 crore).
