Binod Chaudhary Enterpreneurship

1. NATIONAL INSTITUTE OF TECHNOLOGY, KURUKSHETRA, HARYANA
ENTERPRENEURSHIP OF BINOD CHAUDHARY
PRACTICAL LAB OF ENTERPRENEURSHIP
Submitted to: - Prof. Dinesh Khanduja
Submitted by: - Nandeshwor Chaudhary
Roll No: - 2130018

2. BINOD CHAUDHARY
Binod Chaudhary (born 14 April 1955) is a Nepalese businessman,
industrialist and philanthropist. He is the current chairman of Chaudhary
Group (CG), a conglomerate that consists of nearly 80 companies. Binod
Chaudhary is also the first Nepali billionaire. Besides business, Chaudhary
has been involved in various other government and social sectors. He
worked as a member of constituent assembly and parliament of
Nepal from April 2008 to May 2012. His CG Foundation works for the
social welfare and he often contributes in the areas
of art, music and literature as well.
Chaudhary was born in Kathmandu, Nepal as the son of Lunkaran Das
and Ganga Devi Chaudhary. He was raised in Kathmandu with his two
brothers Arun and Basant Chaudhary.
His grandfather was a textile trader and owned a small textile store. His
father transformed the store to Arun Emporium which is considered to
be Nepal’s first department store. Chaudhary converted the store to a
conglomerate which is one of the biggest corporate houses in Nepal. He
left his studies and started business at the age of 18 when his father got
heart illness.
Chaudhary is married to Sarika and they have three children. Inspired
from his industrious father, Chaudhary always envisioned to become a
very big industrialist of Nepal. With more than four decades of
continuous hard work, he is living his dreams as he developed the
Chaudhary Group to the biggest conglomerate of Nepal which is worth a
billion dollars and more. Forbes magazine has listed him as a billionaire
in 2014 and he is the 1,460th richest person in the world.
Today CG stands as a transnational conglomerate which consists of
nearly 80 companies spanning five continents. It has more than 60
brands in 30 countries with more than 6000 employees. Of its food
brands, ‘Wai Wai’ noodles has been the most successful business. The

3. brand produces more than a billion packets of noodles annually and is
traded over 35 countries worldwide. The Group’s other notable areas of
interests are finance, banking, cement, real estate, hotels, electronics
and home appliances, education, energy, biotech, power, retail.
Chaudhary has publicly stated that much of his success doing business in
Nepal has come from his ability to make connections with the right
people. He has had close connections with the Nepalese royalty, and
credits his decision to give half ownership of a steelmaking company to
the then-king's brother in 1982 as "the main reason for my success."
The family business was a thriving department store that imported
textiles from Japan and Korea. Lunkaran’s vision of establishing a
manufacturing industry in Nepal had led him to set up various
businesses. However his ailing health and the poor infrastructure in
Nepal meant that these were in rough shape. When Binod took over the
reins he had dreams and plans of his own.
“Each generation of entrepreneur in my family have had their own
unique set of difficulties. What is common between us is our ambition.
Neither of us have been content with our god given lot even if it could
have resulted in a comfortable life. Anyone who's ambitious and dreams
big has to be prepared to accept the challenges their ambition presents
them with. My grandfather could have chosen to be a small farmer in his
tiny village in Rajasthan. Because he did something different, here I am
today,” he says with pride.
While Binod was busy learning the ropes of the business from the ground
up, a chance observation proved to be the hunch of a lifetime. “At the
airport I would observe that people travelling back from Thailand would

4. return loaded with noodle cartons. I figured that these were high in
demand with their relatives back home. I concluded that there was
business to be done here,” he says.
The flour mill which supplied the family’s biscuit factory was used to
supply a small plant was then set up to manufacture noodles. Wai Wai
Noodles, as Binod christened it, proved to be wildly popular in Nepal and
was gradually expanded to India. Now his moniker is Noodle King and he
controls two percent of the world’s noodle market.
“Wai Wai” granted Binod success and stability and established his calibre
as a businessman to the world. But he was not satisfied. He says,
“Everyone dreams of conquering new frontiers. I always felt we were
competing internationally in my own home turf when companies from
India and China came to Nepal to sell their products. And I thought, why
can't we do that?”
Binod had been travelling to Japan for business ever since he started
working. Observing the Japanese at their work influenced his own
attitude towards entrepreneurship greatly.
Speaking of his own journey, he adds, “By now I've been an entrepreneur
for more than forty years. We have built a strong organization with
vibrant offices across Asia from Sri Lanka. Dubai, India, Singapore and all
over Nepal. We have created many different businesses and received
recognition for our work. So I am sure I must have done something right.
Today our confidence level is at a completely different level than when
we were starting out. I enjoy every moment of what I do. I feel that the
process has become much more exciting. It seems that yesterday we
were fighting to establish ourselves. Now the sky is the limit. The nitty-
gritties of day to day business management doesn't faze me anymore. I
am more concerned with the bigger picture. I started all this in Nepal at

5. age 18 when I wasn't concerned with starting up. Yesterday the battle
was for survival. Today it is about challenging limits.”
An anecdote from his early life illustrates his success aptly. Binod recalls
being sixteen and visiting Mumbai for the first time. The hustle and
bustle of the ‘city of dreams’ was a world away from the tiny mountain
country he called home. He stood in front of the Taj Mahal hotel and was
transfixed in awe of the grandeur before him. He wanted to go in but was
intimidated. “We were not used to seeing five star hotels in Nepal. Even
today the Taj Mahal Hotel is an overpowering sight for simple folks. I
was intimidated but also curious. I wanted to walk in. But the gentleman
friend who was escorting me was terrified. He said, ‘Don't go in. Tumko
nikal dega (they'll throw you out).’ So I didn't risk it.” The hospitality
branch of his business has since partnered with Taj Hotel Resorts in a
number of countries.
Today Binod heads a business empire that consists of more than 80
companies spanning across 11 verticals (hospitality, banking, education,
consumer goods, energy, real estate, power, retail, etc.) in 19 countries.
And he’s excited for more. As his company is poised for expansion into
West Asia, Binod surmises,
When asked what he considers his biggest success, the answer comes
easily. He says, “Hands down it’s “Wai Wai”. It gave us the size, scale,
recognition and ability to grow into what we are today. But what I
consider my biggest achievement is to take the plunge and go global at
a time when we had limited resources and were facing tumultuous
uncertainties. Having had the courage to do that is what makes me
satisfied.”
As for failures, he says that ups and downs are a reality of doing business.
One shouldn’t take the lows too seriously because they are inevitable.

6. References
www.google.com
www.yourstory.com