Krishan Kumar Modi, the patriarch of the Modi Business clan and a prominent figure in India’s corporate landscape, held a significant 26% stake in Godfrey Phillips, the country’s second-largest cigarette manufacturer. Taking the reins in 1979, Krishan Kumar Modi, the second generation of the Modi family, has not only overseen the growth of Godfrey Phillips but has also steered its diversification into various sectors, including tea, beverages, and confectionery.
Beyond the tobacco industry, the Modi family’s business interests span a wide range, encompassing ventures such as the convenience store chain Twenty Four Seven and the cosmetics retailer Colorbar. Krishan Kumar Modi’s wife, Bina Modi, plays an active role in managing the family’s enterprises, overseeing areas such as restaurants, an art gallery, and a fashion TV channel.
The Modi family’s influence also extends to the realm of sports, with their older son Lalit Modi having served as the chairman of the immensely popular Indian Premier League (IPL) cricket tournament, although his tenure was marked by controversies leading to his eventual departure. Meanwhile, Krishan Kumar Modi’s brother, Bhupendra Kumar, has established his own thriving business empire based in Singapore, positioning him among the ranks of the country’s wealthiest individuals.
Early Life
Born on August 27, 1940, in Patiala, K. K. Modi was the eldest son of Rai Bahadur Gujarmal Modi and his second wife Dayawati Modi. His upbringing was colored by the dynamic environment of post-independence India, where his father was diligently building the foundation of what would become the Modi Group. The family’s enduring commitment to enterprise and the country’s transformative phase were intertwined influences that shaped K. K. Modi’s path.
A multifaceted career
K. K. Modi’s journey into business began at an early age. In 1959, at just 19 years old, he accompanied his uncle on a pivotal trip to European countries to explore avenues for enhancing textile production quality. This marked the initial steps of his immersion into the world of industry. As his capabilities unfolded, he assumed responsibility for managing the textile production in the family’s silk mill.
In 1965, K. K. Modi’s leadership prowess came to the fore when he was appointed Vice-President of Modipon, a newly established nylon yarn manufacturing unit in Modinagar. His knack for innovation and expansion was further exemplified in his role as the torchbearer of the Modi Group after the passing of his father in 1976. This period saw the diversification of the group’s interests into various sectors including cigarette manufacturing, pesticides, leather, and industrial chemical technology.
Leadership
The mantle of leadership suited K. K. Modi, evident in the manner he steered the Modi Group during critical junctures. He not only managed to preserve the unity of the family amidst business expansion but also embraced roles that extended beyond the corporate realm. As President of the Confederation of Asia Pacific Chambers of Commerce & Industry (CACCI), he championed regional economic cooperation, underscoring his commitment to larger socio-economic advancement.
Family
K. K. Modi’s personal life mirrored his dedication to diverse pursuits. He was one of eleven children, growing up amidst the backdrop of a family longing for a male heir to carry on the legacy. His marriage to Bina Modi in 1961, arranged in traditional Indian fashion, added a new dimension to his life. Bina’s culinary expertise found expression in the Ego Thai restaurant in New Delhi, a testament to the family’s entrepreneurial spirit. Together, they nurtured three children – Charu Bhartia, Lalit Modi, and Samir Modi – each contributing uniquely to the family’s diverse endeavors.
Lalit Modi
While K. K. Modi’s legacy is marked by his industriousness and innovative spirit, it is impossible to overlook the shadow cast by his elder son, Lalit Modi. A cricket administrator known for his role in creating the Indian Premier League, Lalit Modi’s flamboyant demeanor and controversies have garnered widespread attention. His ongoing legal battles and self-imposed exile have placed the family under scrutiny, casting a complex light on the Modi legacy.
Net worth
A 1.5 billion dollar empire was built by Krishan Kumar Modi, making it one of the top business organisations in India. The Group now spans over a hundred different countries.
KK Modi University and KK Modi International Institute are a few of the group companies. Others include Godfrey Phillips India Limited, Indofil Chemicals Ltd, Modicare, 24X7 convenience stores, Colorbar Cosmetics, MHP Staffing and Ego Specialty Restaurant Chain.
From textiles to tobacco, from leadership roles to family enterprises, K. K. Modi’s indelible mark on the Modi Group and the business landscape at large is a testament to his enduring legacy.
