Havells India Limited chairman Qimat Rai Gupta passed away

The electrical equipment maker Havells India Limited group chairman Qimat Rai Gupta passed away on 7 November 2014. He was 77.

Qimat Rai Gupta
Qimat Rai Gupta started Havells India Limited in 1971 and transformed it to a multinational company with operations across 51 countries.

Gupta's big moment came in 2007 when Havells acquired Europe headquartered Sylvania Lighting thus registering Havells amongst top 4 lighting companies in the world.

Gupta received the Self-made Entrepreneur Award Udyog Patra in 1989, Distinguished Entrepreneurship Award 2004, Udyog Vibhushan from the Institute of Trade & Industrial Development in 2005 and Udyog Ratna in 2005.

In 2014, Gupta made it to the Forbes' billionaire list for the first time and was ranked as India's 48th richest man with a net worth of 2 billion US dollars as of September 2014.