Seth Ramnarain Ruia (also known as Ramnarain Hurnundrai) was an Indian businessperson. He is also referred as the ''Cotton King''. He was one of the co-founders of

Bank of India Bank of India (BOI) is an Indian public sector bank headquartered in Bandra Kurla Complex, Mumbai. Founded in 1906, it has been government-owned since nationalisation in 1969. BoI is a founder member of SWIFT (Society for Worldwide Inter B ...

along with Sir Sassoon David and Sir Cowasji Jehangir Readymoney.

Ramnarain Ruia College Ramnarain Ruia Autonomous College is a college affiliated to the University of Mumbai, in Matunga, Mumbai, India. It was established in June 1937. The University of Mumbai granted autonomous status to Ramnarain Ruia College in year 2017. It co ...

, a college located in

Mumbai Mumbai (, ; also known as Bombay — the official name until 1995) is the capital city of the Indian state of Maharashtra and the ''de facto'' financial centre of India. According to the United Nations, as of 2018, Mumbai is the second- ...

, is named after him.

Life and career

He was born around the 1860s. In 1883, Ramnarain became a broker to the opium department of Sassoon J. David, the well-known Armenian firm in Bombay. In 1891, he became a guaranteed broker to Sassoon J. David's cotton department. In 1905, Ruia purchased

Phoenix Mills High Street Phoenix, formerly known as Phoenix Mall, is one of the largest shopping malls in India, situated in Lower Parel, Mumbai. Its gross floor area is . In addition to the mall, the compound hosts a five-star hotel, a multiplex, commercial ...

and two other mills in 1905 to start his textiles business. The other two mills, which he had purchased was the Bradbury Mills at

Kalbadevi Kalbadevi is an old neighbourhood in Mumbai (Bombay), India. It is named after Goddess Kalbadevi, the Hindu Goddess. Kalbadevi area is one of the busiest areas during peak hours. The area has mostly traders in watches, bicycles, steel utensils, e ...

) and the Dawn Mills at

Lower Parel Lower Parel (Pronunciation: əɾəɭ əɾeːl station code: PL) railway station is a railway station on the Western Line of the Mumbai Suburban Railway, India. The next station south is Mahalaxmi railway station; the next station north is ...

Bombay Mumbai (, ; also known as Bombay — the official name until 1995) is the capital city of the Indian state of Maharashtra and the ''de facto'' financial centre of India. According to the United Nations, as of 2018, Mumbai is the second- ...

. In 1959, the firm was listed on the

Bombay Stock Exchange BSE Limited, also known as the Bombay Stock Exchange (BSE), is an Indian stock exchange. It is located on Dalal Street in Mumbai. Established in 1875 by cotton merchant Premchand Roychand, a Jain businessman, it is the oldest stock exchange in ...

. The firm also ventured into real estate in 1987and built

High Street Phoenix High Street Phoenix, formerly known as Phoenix Mall, is one of the largest shopping malls in India, situated in Lower Parel, Mumbai. Its gross floor area is . In addition to the mall, the compound hosts a five-star hotel, a multiplex, commercial ...

. He co-founded

in 1906.

References

{{DEFAULTSORT:Ruia, Ramnarain Indian businesspeople in textiles Indian industrialists Businesspeople from Rajasthan Marwari people 19th-century Indian businesspeople Indian company founders 20th-century Indian businesspeople Industrial history of India

Life and career

Further reading

References