Essel Group at 100: Dr. Subhash Chandra reflects on a century of reinvention

Marking the Essel Group’s 100th anniversary on Thursday, founder and chairman Dr. Subhash Chandra reflected on the conglomerate’s century-long evolution — from a small trading operation in pre-Partition Punjab to one of India’s most recognisable media and infrastructure businesses.

According to a report published by Wion, speaking to nearly 10,000 employees and associates, Dr. Chandra described the journey as one shaped equally by ambition, disruption, reinvention and personal learning. He said the story of Essel was not only about business growth, but also about the emotional and financial realities that accompany building institutions across generations.

Tracing the group’s origins, Dr. Chandra said the business began in 1926 as Messrs Ramgopal Indraprasad, founded by Jagannath Goenka in Adampur, Haryana. He recalled how the family enterprise initially operated in commodities and food grain trading before gradually diversifying into sectors that would later define the group’s national footprint.

Long before the rise of Zee Entertainment Enterprises and Zee News, several Essel ventures had already reached millions across the country, he noted. These included food grain storage infrastructure, telecom pole manufacturing, laminated tubes and consumer-facing entertainment businesses such as EsselWorld.

According to Dr. Chandra, exports of food grains to the former Soviet Union became a major source of capital during the group’s formative years, helping fuel future expansion. He also recalled a milestone from 1981, when the company first crossed Rs 100 crore in annual turnover — a moment he viewed as symbolic of the group’s growing scale and confidence.

He described Essel as a “startup before startups became fashionable” and encouraged teams to retain that culture of experimentation and ownership.

He also called on senior leaders to preserve institutional memory by documenting the experiences of long-serving employees, arguing that younger generations could learn from the organisation’s history of both successes and failures.

Reflecting on the broader meaning of the company’s centenary, Dr. Chandra said the most enduring impact of business lies in the opportunities it creates for others. He stressed that institutions gain lasting value when growth is accompanied by trust, resilience and the ability to uplift people over time.

According to the Wion report, Dr. Chandra urged employees and colleagues to continue moving forward with conviction. “Your fate is to move. Keep moving with certainty. Certainty is the keyword,” he was quoted as saying. said. “I assure you it’s happening irrespective of the odds we face in life at such challenging times.” Chandra also stated that he never pursued wealth for personal gain. “I’ve not personally created any wealth for myself,” he said.