G-Force of Dhando & Dhurandhar: The cultural code behind Gujarati enterprise

Gujaratis are exceptionally successful in business. What is it about the community that produces such a profound instinct for enterprise? Their success reflects a deeper cultural phenomenon. Representing roughly 5% of India's population, Gujaratis contribute over 8% of the national GDP and nearly 18% of its industrial output. Of the Forbes 100 richest Indians, 19 are Gujaratis.

Gujarat's tryst with commerce is etched into its geography. Lothal's 4,500-yr-old tidal dockyard stands as testament to an ancient maritime instinct. Millennia later, ports such as Surat, Cambay and Porbandar flourished as hubs of global trade with their merchants sailing the Arabian Sea.

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By the early 20th c., Ahmedabad earned the title 'Manchester of the East', powered by textile mills owned by families like Sarabhais, Mafatlals and Lalbhais. These enterprises helped shape India's early industrial economy. When the licence raj began to loosen its grip, Gujarati capital moved decisively into chemicals and pharma. Companies like Sun Pharma under Dilip Shanghvi, Zydus led by Pankaj Patel, and Torrent under Sudhir Mehta emerged as global players.

In consumer industries, too, Gujarat produced enduring brands such as Asian Paints, Pidilite, Marico, Parle and Nirma. Each built its reputation on scale, trust and a deep understanding of the Indian consumer. Financial markets also carry a distinct Gujarati imprint. The state produced institution-builders such as Deepak Parekh and Uday Kotak - alongside controversial market operators like Harshad Mehta and Ketan Parekh.

So, what explains the community's consistent outperformance?

Normalisation of risk & failure In a Gujarati household, a teenager with a business idea will be warned about pitfalls but rarely discouraged. Instead, he may be sent to work with an uncle or family friend to learn the ropes. Business is treated as a craft to be mastered through apprenticeship. Failure doesn't carry much stigma. An unsuccessful venture is seen as a lesson rather than a permanent setback. This mindset encourages resilience and a willingness to take calculated risks from an early age.

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Optimised frugality

The instinct to squeeze the last bit of toothpaste, reuse envelopes and sell old newspapers reflects a deep respect for capital. Dinner table conversations revolve around business, stocks and stories of entrepreneurial success. Children grow up helping in the family enterprise, observing negotiations and understanding cash flow and discipline. Over time, this environment produces a powerful blend of cost consciousness and growth ambition.

Power of diaspora

Gujaratis were happy to migrate in search of opportunity. From East Africa to Britain and the US, community networks helped newcomers find their footing and gradually build businesses of their own. Gujaratis today have a commercial presence in more than 100 countries. The 'Patel motel' phenomenon in the US is a classic example. Nearly 90% of the world's diamonds pass through Surat, making it the undisputed centre of the global diamond trade, all thanks to mastery of a complex supply chain woven around trust and efficiency.

Central role of women

Often overlooked is the role of women in sustaining this entrepreneurial culture. A Gujarati housewife is rarely just a homemaker. Many supplement family income through food dabbas, tailoring or tuitions.

This has also given rise to remarkable institutions. The Amul dairy cooperative, powered by millions of women farmers, transformed India's milk economy. Lijjat Papad, founded by seven women, grew into an internationally recognised brand. In the corporate world, women leaders such as Kiran Mazumdar-Shaw and Nita Ambani reflect the growing influence of Gujarati women in shaping enterprise and philanthropy.

Ownership over employment

While many communities prioritise stable salaried jobs, Gujaratis often gravitate toward enterprise. Running a modest shop, trading desk or small manufacturing unit is frequently seen as more desirable than working for someone else. Concept of 'dhando' carries social respect and personal pride.

Adaptability and market sensitivity

Gujaratis have repeatedly shown an ability to read economic shifts and reposition themselves. This agility allows them to move quickly into emerging sectors in comparison to others.

Of course, this cultural machinery is not without limitations. The technology sector does not have much Gujarati presence, with relatively few unicorn founders or IT leaders, with the exception of Azim Premji. This may partly reflect their traditional preference for commerce education over engineering or tech.

Another challenge lies in transitioning from founder-driven businesses to professionally managed institutions, as companies scale. Yet, adaptation has always been central to Gujarati enterprise, and history suggests these lacunae will be overcome.

What Gujarat has built is a living, breathing philosophy of enterprise. Resilience, frugality, mobility and an instinctive hunger for opportunity are products of a culture that has long believed commerce is more than a livelihood. It's a calling.