New Delhi: Wipro, a name synonymous with innovation and progress, has undergone a remarkable transformation from its humble beginnings as a family-run vegetable oil manufacturing business to a thriving multinational corporation with a diversified portfolio. This evolution is a testament to the power of vision and adaptability.
Let’s delve deep into the extraordinary journey of Indian global software giant that began before the Independence and where Azim Premji’s leadership fit into it.
The Start Of Wipro As an Oil Mill
Wipro, that stands for Western India Vegetable Products, was founded by Mohamedhusain Hasham Premji at the age of 21. His late father had a business of grain trade. He turned it into a manufacturing business in the India heartland – Bomaby.
Mohamedhusain’s wife, Dr Gulbanoo Premji, did not shy away from challenges, either. She took over as the Chairperson of Western India Vegetable Products, and worked to set up the Children’s Orthopaedic Hospital in Bombay. Later, she helped set up a cerebral palsy unit.
The Entry Of Azim Premji And Overhaul Of Wipro
Mohmedhusain’s son Azim, who was studying at Standford, had to come back India in 1966 after the untimely death of his father at the age of 51. The entire responsibility of the company threw on his young shoulders.
But Azim Premji was a man of determination and vision. He not only managed the frail business but he would transform the business into diversified fields by shedding its original identity as a vegetable oil mill.
He registered the company itself as Wipro, leaving behind the legacy as a commodity based business and started endeavoring into modern age business such as software service and information technology.
Wipro Explores In IT service
By 1989, Wipro had become a diversified manufacturer of computer systems, consumer products and industrial equipment.
Azim knew that only thing that is constant is change itself. Innovation and adaption is the key to remain valuable in the market. His timely guidance and actions kept the company in the race.
Around the end of 1990s, when the technology market grew around the world, Azim started exploring innovation and market for Wipro in IT services. So, he shifted its base station of Wipro to Bangalore, which was becoming the silicon valley of India because of a plethora of factors: market, innovation, startups, and growth.
In 2000, Wipro grows to a one billion-dollar company and is listed on the New York Stock Exchange.
The End Of An Era
On July 31, 2019, Premji retired as the Executive Chairman of Wipro Limited.
‘Leading Wipro from 1966 till now has been the greatest privilege of my life. It has been an extraordinary journey — growing from being a small vegetable oil company to the diverse global business that we are today. It is the deep commitment and hard work of Wiproites across generations that has helped shape the organization of today,’ he wrote in his last letter.
In 2019, Rishad succeeded the senior Premji as the Chairman of Wipro Limited.
