Lachhman Das Mittal- The LIC agent turned into the 68th richest man in India in Forbes list

Where there is a will there is a way – We often read about great people who inspire us to do excel in our life. Not all these great people are born with silver spoon but in misery and poverty. .mittal is one of those great personalities or I say the true source of inspiration to all those people who wanted to do something big for him.
Especially from the people in India, who have such great ideas but they end up doing nothing because they give up easily.

Let’s make you familiar about the life and background of Lachhman das mittal.

 

Childhood and Family background

Like most of the inspirational personalities, Lachhman das mittal too belonged to a poor family.  He was a born in Bhindarkala village of moga district in Punjab. His father worked on petty commissions in local mandi, which didn’t pay much. His father always helped him when it comes to motivation and encouragement for the studies.

 

Educational background

Lachhman das completed his graduation from a Government college and later enrolled for post graduation degree in Urdu and English through a correspondence course from Punjab University. He invested all his strength to accomplish degree in MA English that also earned him gold medal. Even after finishing his studies Lachhman das was having tough times dealing with debts he took from his friends.

First job in LIC

After struggling hard after his post graduation, he got his first break in LIC. It was 1955 when he was working as a LIC agent. Working at this post taught him so many things, which was to be helpful in his upcoming future. After having a great experience as a LIC agent, he was promoted to the job of field officer. This job profile led him travel different states on India which proved a better experience for him. Working with LIC somehow improved his way of living and helped him clear his old debts. Besides, he started saving from his salary.

Working in LIC was not enough

He had a fine job in LIC but still he was looking for something bigger. He decided to set up his own side business of agricultural machines. Well, this totally turned against him leaving him bankrupt with all his savings and investment gone. Tough times were back again for Lachhman .In order to cover up his losses he applied for Maruti dealership but all received was rejection. But the best part is despite encountered such a huge loss he didn’t give up , he looked this defeat as a lesson and moved on.

 

  The turning point

We all have that one day that changes our lives completely. Lachhman was about to see that day. One day he saw Japanese machine separating wheat from the hay and it took no time when a great idea stroke into his mind. He decided to develop thresher for the farmers. This was the best thing he was going to do.

This time, his idea worked so well that within 8 years he became popular all over the country for his product. He named it Sonalika thresher and gradually this name turned out to be one of the biggest agricultural brands of India. From here, there was no turning back he kept on succeeding.

Expansion of business

Now, it was time to introduce tractors in Indian fields, which earned him great respect and name not only in India but also all over the world. Well, he had no plans for introducing tractors it was his customers who requested and asked him to consider this option. He decided to give it a go! He assembled two tractors and did 2 years market research. The results seemed promising but in order to implement this project on a larger scale he needed funding. Therefore, he talked to his close dealers and managed to collect the loan of 22 crore for his tractor project. In 1996, he laid the foundation of Sonalika tractors in Jalandhar. This project was a massive success.

 

Successful all around the world

Lachhman’s Sonalika tractors became so popular that today they not only run on Indian fields but they export their tractors to 74 countries with 5 manufacturing units in different countries. Currently, Sonalika sells 70000 tractors per year and 12000 units on regular basis shipped to 70 different locations of the globe.

 

68th richest man in Forbes list

The man who was born poor, the man who had no money to payback his debts, they man whose startup business was a disaster , the man whose dealership was turned down by Maruti was now the 68th richest man in India in Forbes list and having mentioned in Forbes list matter of proud .. He has a total asset of 1.4 billion dollars or Rs 9338 crores. He is still still humble by nature. Lachhman das mittal is the name everyone knows today be it businessmen, farmers, students and foreign marketers.

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