The Essel Group recently commemorated 90 years of its existence, with its Chairman and Rajya Sabha MP Subhash Chandra announcing launch of the DSC Foundation and ‘Sarthi’ initiative. President Pranab Mukherjee and PM Narendra Modi attended the mega celebration in New Delhi.
Last week, the Essel Group commemorated 90 years of its existence, characterized by innovation and growth. Four generations of the Essel Family and Essel Group, led by its Chairman and Rajya Sabha MP Subhash Chandra, got together for the celebrations. Dr Chandra announced the launch of the Dr Subhash Chandra (DSC) Foundation by contributing Rs 5000 crore from his family wealth, the ‘Sarthi’ initiative and English global news network, WION – World Is One News, in the presence of President Pranab Mukherjee and Prime Minister Narendra Modi, at a ceremony in New Delhi. The Group also honoured the winners of the first edition of the Zee Media Family Business Legacy Awards –aimed at honouring India’s oldest family-run businesses which have expanded their empires over successive generations. The President conferred the awards on the recipients, Dr Anand C. Burman, Chairman, Dabur India Ltd., Piyush Ochhavlal Desai, Chairman, Wagh Bakri Tea Group and Dr Murtaza Khorakiwala, Managing Director, Wockhardt Ltd.
‘Sarthi’ is an initiative that seeks to create a nation where citizens are well informed about their rights and duties and empowered enough to raise their voices against the problems faced by them, which are then effectively addressed and resolved. It aims to become a guiding force that propels change in the lives of people through constructive interventions, and includes a network of corporate foundations, non-government organizations, volunteers, trusts, communitybased organizations and concerned Government departments who are working towards the common goal of building a well-informed and empowered nation.
DSC aims to help budding entrepreneurs and educationists, by not just providing them with funds but by creating a chain model. The proposed model of DSC Foundation will ensure that the recipients of the financial support from DSC Foundation will have to give back to the society by mutual consent. Unlike any other NGO, the financial assistance provided from DSC Foundation is not a same day loan that has to be paid back to the Foundation, but in return the recipients have to help some other person in need.
Speaking on the occasion, Dr Chandra said, “This journey of 90 years has been filled with remarkable successes as well as challenges and obstacles. It has been a journey of creating history, venturing into unknown territories, only to emerge as leaders, capitalizing on our pioneering vision and sheer entrepreneurial spirit. As we look to the future, I am confident that we will carry forward the legacy of the Group with complete passion, dedication and above all, the spirit of #YoungAt90! On this occasion, we are launching our new initiatives – Sarthi, DSC Foundation and WION, that will empower the lives of the people. We are pledging Rs 5000 crore out of our profits towards this Foundation.”
Prime Minister Modi described the Sarthi programme as “an illustration of Indian traditions”. He said that India has had a tradition where successive generations take family values forward, and contribute to the family by adding their capacities and capabilities. He recalled his earlier meetings with Shri Nandkishore Goenka, father of Dr Subhash Chandra, and said the family has always been open to new ideas, and has taken every challenge as an opportunity, to create a presence in a range of initiatives from “soil to satellite”. Appreciating the social initiatives of the Essel Group, the Prime Minister said that while “Sarthi” presented a good blend of rights and duties, the DSC Foundation would help build a large number of job creators. The Prime Minister urged everyone present to work towards specific goals for what they could do for the country by 2022 – the 75th anniversary of independence.
Appreciating the spirit of the celebrations, i.e., ‘Young at 90’, President Pranab Mukherjee said, “One should always remain young and look at issues with a fresh new perspective. Unlike 90 years ago, the situation in the world is very different today. Thanks to our ingenuity and ability, we have absorbed and advanced technology.” The President said that media has a far reaching impact and influence on people. Today, indeed, the world is one. He said that while facts and news remain one, views may be different. It is important to maintain objectivity and truthfulness in news. The President said that in the next 10 years, the Essel Group would be organizing its centenary celebrations, and wished that they should remain young even at 100.
ABOUT THE ESSEL GROUP
Ninety years ago in 1926, the nation’s agricultural development gained momentum and that’s when Essel Group’s foray into food grain trading started. Over nine decades, Essel Group has become a multi-billion dollar business conglomerate, having diverse business presence across Media, Entertainment, Packaging, Real Estate, Infrastructure, Education, Finance, Precious metals and Technology sectors. Essel has created an impressive track record of value creation over nine decades, in all businesses. The Group companies strive to bring the latest innovations and the best value offerings to all the consumers in a quest to deliver the best in class. With worldwide operations, it has a workforce of over 40,000 employees.
