The conventional retirement age of 60 often marks a transition to a more leisurely lifestyle, supported by pensions and provident funds. For many, the idea of entrepreneurship post-retirement remains a distant prospect after years of corporate commitment. Yet, exceptions to this norm exist, as exemplified by the remarkable journey of Lachhman Das Mittal, a thriving entrepreneur who embarked on his entrepreneurial voyage at the age of 60 following retirement.
At 93, Mittal holds the distinction of being India’s oldest billionaire, a title previously held by Keshub Mahindra until his passing at 99 in April 2023. Mittal’s ascent to billionaire status as the chairman of Sonalika Group underscores his remarkable trajectory, having begun his career as an ordinary life insurance agent with LIC.
After graduating from a government college, Mittal pursued postgraduate studies in Urdu and English, clinching the gold medal in MA English before commencing his career with LIC in 1955. Despite experiencing setbacks, including bankruptcy resulting from a failed agricultural equipment business, Mittal’s entrepreneurial spirit remained undeterred.
Following retirement in 1996, Mittal reinvested his savings into founding Sonalika Tractors, a decision that proved transformative as the business rapidly expanded. Today, Sonalika Tractors boasts a substantial manufacturing presence in Hoshiarpur, Punjab, with additional operations spanning five countries and business activities extending to 120 nations worldwide.
While his sons, Amrit Sagar Mittal, and Deepak Mittal, oversee the day-to-day operations of Sonalika Group, Mittal remains actively engaged in the company’s affairs, often visiting its offices. With his grandsons, Sushant and Raman, also involved in the company, Mittal’s entrepreneurial legacy continues to thrive, embodying the spirit of resilience, determination, and relentless pursuit of success even in the twilight years of life.
