New Delhi: Today’s inspiring story revolves around a man who demonstrated that unwavering commitment and a profound passion for one’s goals can yield enduring accomplishments, serving as an inspiration for the generations to follow.
Balvant Parekh, a law graduate, book enthusiast, former peon, and freedom fighter, stood out as a significant entrepreneur in post-independence India. He was famously referred to as ‘The Fevicol Man of India’ and he earned this title for establishing Pidilite Industries, the billion-dollar company that stands as the force behind Fevicol.(Also Read: Job Hurdles To Entrepreneurial Heights; Poonam Gupta’s Home Business Blossoms Into An Rs 800 Crore Empire)
Balvant Parekh hails from Mahuva, Gujarat and was born during a crucial period of India’s fight for independence. Despite actively participating in the freedom struggle as a youth he eventually opted to pursue a law degree due to familial pressure.
Even after achieving a law degree by passing the Bar Council Exam, his heart remained dedicated to the realm of business. He faced considerable challenges, residing in a factory basement with his wife and working as a peon.
Fueled by his entrepreneurial ambitions, Balvant embarked on diverse ventures, importing items such as bicycles, areca nuts, and paper dyes from the Western world to India. After enduring years of hardship, Parekh seized the opportunity to visit Germany where he acquired valuable business knowledge. Upon returning to Mumbai, he along with his brother established Parekh Dyechem Industries and successfully developed the well-known adhesive, Fevicol.
Fevicol made its debut in India during the year 1959, coinciding with the business’s name change to Pidilite Industries in the same year. Fevicol gained popularity as a user-friendly adhesive crafted specifically for carpenters.
Starting as a small shop, Pidilite Industries gradually expanded and went on to become a dominant force in the adhesive market. Presently, the company boasts a market capitalization of approximately Rs 139,000 crore.