Azim Premji

Azim Premji is an Indian business tycoon and philanthropist who is the chairman of Wipro Limited, guiding the company through four decades of diversification and growth to emerge as one of the Indian leader in the software industry. According to Forbes, he is currently the third wealthiest Indian, and 41th richest in the world, with a personal wealth of US$15.9 billion in 2012. In 2000, he was voted among the 20 most powerful men in the world by Asiaweek. He has twice been listed among the 100 most influential people by TIME Magazine, once in 2004 and more recently in 2011. Premji owns 74% of Wipro Limited, which started off manufacturing hydrogenated cooking fats along with consumer products. It grew from a company of US $2.5 million to a giant of almost $7 billion under Premji's leadership. Wipro Technologies, the Global IT Business of the company, is one of India's largest software companies and is ranked among the top 100 technology companies globally.

When Azim Premji took over as its head, Wipro dealt in hydrogenated cooking fats and later diversified to bakery fats, ethnic ingredient based toiletries, hair care soaps, baby toiletries, lighting products, and hydraulic cylinders. Thereafter Premji made a focused shift from soaps to software.

In the 1980s Wipro entered the IT field, taking advantage of the exit of IBM from the Indian market in 1975. Thus, Wipro started manufacturing computer hardware, software development and related items. As a result, the $1.5 million company in hydrogenated cooking fats grew within a few decades to an over $6 billion diversified, integrated corporation in services, medical systems, technology products and consumer items with offices worldwide. A large percentage of the company’s revenues are generated by the IT division. Wipro works with leading Fortune 500 companies. Wipro also has a joint venture in Medical Systems with General Electric Company.

Premji has been recognized by Business Week as one of the Greatest Entrepreneurs for being responsible for Wipro emerging as one of the world’s fastest growing companies. In 2005 the government of India honored him with the title of Padma Bhushan for his outstanding work in trade and commerce. In 2011, he has been awarded Padma Vibhushan, the second highest civilian award by the Government of India.

AWARDS

• In 2000, Asiaweek magazine, voted Premji among the 20 most powerful men in the world.

• Azim Premji was among the 50 richest people in the world from 2001 to 2003 listed by Forbes.

• In April 2004, Times Magazine, rated him among the 100 most influential people in the world by Time magazine.

• He is also the richest Indian for the past several years. In 2005,Government of India honored Azim Premji with Padma Bhushan.