Modi Enterprises is an Indian business conglomerate based in New Delhi, India. The US $2.8 billion group, consisting of Godfrey Phillips India, Indofil Industries Ltd., Modicare Limited, has a diversified business portfolio including cigarettes manufacturing, education,

agricultural chemicals An agrochemical or agrichemical, a contraction of ''agricultural chemical'', is a chemical product used in industrial agriculture. Agrichemical refers to biocides (pesticides including insecticides, herbicides, fungicides and nematicides) and syn ...

, personal care, tea and beverages, entertainment, consumer products, multi-level marketing, and gourmet restaurants.

History

Gujarmal Modi Gujarmal Modi (9 August 1902 – 22 January 1976) was an Indian industrialist and philanthropist, who co-established the Modi Group of companies and the industrial city of Modinagar in 1933, along with his brother Kedar Nath Modi. A sugar mill ...

(1902–1976), founded the Modi Group, beginning with a small, family-run business, then expanding from 1933 onwards with companies such as Modi Sugar, Modi Vanaspati Mfr Co., Modi Industries Ltd,

ModiLuft ModiLuft was a private airline based in Delhi, India. It operated on domestic routes until it shut down in 1996. It maintained high standards in flight safety, ground maintenance and on-time performance owing to support from Lufthansa AG. ModiL ...

and Modi Rubber, Modi Paints, Modi Oils, Modi Electrodes, Modi Lanterns and Torch works, Tube wells/drilling, Modi Distillery, Modi Steels, Industrial Gases, Modi Spinning and Wvg. Mills Co. Ltd., Modi Yarn Mills, Modi Threads, Modi Soap, and Modi Carpets etc. By the time Modi's brother Kedar Nath Modi joined the company, the Modi Group was India's seventh largest

conglomerate Conglomerate or conglomeration may refer to: * Conglomerate (company) * Conglomerate (geology) * Conglomerate (mathematics) In popular culture: * The Conglomerate (American group), a production crew and musical group founded by Busta Rhymes ** Co ...

. The company had become the center of the eponymously renamed city of Modinagar. Modi died in 1976, and KN Modi succeeded him with the help of Modi's five sons and his own three sons who later joined the family business. The founder of the company did not leave a

will Will may refer to: Common meanings * Will and testament, instructions for the disposition of one's property after death * Will (philosophy), or willpower * Will (sociology) * Will, volition (psychology) * Will, a modal verb - see Shall and will ...

and, although the family remained united under KN Modi's leadership, this oversight would later cause a rift that threatened to destroy the company. Modi at IPL Players Auction

In April 2010,

Krishan Kumar Modi Krishan Kumar Modi (27 August 1940 – 2 November 2019), also known as K. K. Modi, was an Indian businessman and the President of Modi Enterprises. Among his three children is Lalit Modi. Background Modi was born in August 1940 in Patiala, the ...

, former chairman of Modi Group, announced that his eldest son Lalit Modi will succeed him as the head of Modi Group's flagship business Godfrey Phillips India (GPI). KK Modi is the father of Lalit Modi, the founder of the Indian Premier League (IPL). According to Modi, his children ( Lalit Modi,

Samir Modi Samir Modi (born 15 December 1969) is an Indian businessman, and the younger son of K.K. Modi and Bina Modi. He is an executive director at Modi Enterprises, which was founded by his grandfather, Gujarmal Modi, in 1933. He is also an executiv ...

and Charu Bhartia Modi) will have the obligation to appoint his successor, and only by a unanimous vote. Otherwise, the group will be sold off with the profits from the sale shared equally among them. In June 2011, The Modi Group announced that it was planning to acquire majority control in Godfrey Phillips India from American tobacco company

Philip Morris Phil(l)ip or Phil Morris may refer to: Companies *Altria, a conglomerate company previously known as Philip Morris Companies Inc., named after the tobacconist **Philip Morris USA, a tobacco company wholly owned by Altria Group **Philip Morris Inter ...

. Both groups had a 36% share in the company until in 2009, Modi Group acquired an additional 11% stake in GPI from Philip Morris, taking its share to 47%. As per the

Joint Venture A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to acces ...

agreement, Modi Group has the right to take its holdings up to 51% by buying further into Philip Morris' holdings to gain majority control of the company. The deal brought Philip Morris' stake down to 21%.

, former chairman of Modi Group died at the age of 79 on 2 November 2019.

Brands

The company's brands include Beacon Travels, Ego-Thai, Ego Italian, Godfrey Phillips, Indofil, Modicare, Colorbar, Modi Healthcare, Pan Vilas
Coearth
and 24 Seven.

References

External links

* {{Multi-level marketing Companies based in New Delhi Multi-level marketing companies Modi family Modi Enterprises Indian companies established in 1933