Chaudhary Group

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Chaudhary Group
TypePrivate
IndustryFMCG, Financial Services, Hotels and Resort, Automobile, Education
Founded1968; 54 years ago (1968)
FounderBinod Chaudhary
Headquarters
Chaudhary Group, Kathmandu
,
Area served
South Asia
Key people
Binod Chaudhary
DivisionsCG|Foods,
CG|Finco,
CG|Hotels & Resorts,
CG|Education,
CG|Electronics,
CG|Infra,
CG|Realty,
CG|Telecom,
CG|Brewery,
CG|Beverage,
CG|Tobacco,
CG|Packaging,
Chaudhry Foundation
Websitewww.chaudharygroup.com

Chaudhary Group (CG Corp Global) is a multi-national conglomerate headquartered in Nepal. Its businesses include financial services, consumer goods, education, hospitality, energy, consumer electronics, real estate, biotech, and alternative medicine. The group owns 136 companies in 15 different business verticals across five continents.

History[edit]

Towards the end of the eighteenth century, Bhuramull Chaudhary, a Marwari[1] businessman from the modern-day Shekhawati district in the Indian state of Rajasthan, was invited to Nepal at the behest of its erstwhile Rana rulers for business. He sold clothes to the royalty and high-end customers in Kathmandu going from door-to-door and later started his own store in Kathmandu.

Binod's father, Lunkaran Das Chaudhary, laid the foundations of the group. He imported consumer electronics and garments from Japan, South Korea, Europe, and India. Lunkaran started Nepal's first department store, Arun Emporium, in 1968. He exported jute to the US and Europe in the early-1960s when Nepal's trade with the outside world was limited to India.[2]

Wai Wai Noodles[edit]

Wai Wai is an international brand of instant noodles produced initially in Nepal by Thai Preserved Food Factory Co. since 1972.[3][4] Chaudhary Group with technical assistance of the company introduced Wai Wai in Nepal in 1985.[5] The Chaudhary Group built four factories in Nepal and six factories in India for the manufacture and distribution of Wai Wai and other branded instant noodles. CG is expanding with new plants in Nepal, India, Bangladesh, Serbia, Kazakhstan and Saudi Arabia.[citation needed] Along with other noodle brands of India, one segment of Xpress Noodles, a product of CG was banned in the Tamil Nadu state of India in 2015 for a period of three months citing high levels of lead in similar noodle brand known as Maggi.[6][7] The Assam government had also banned Mimi, another product from CG for one month under the Food Safety and Standard Act 2006.[8] Subsequently, concerned authorities declared the noodles safe as they proved to contain no lead and harmful materials.[9] Wai Wai claims 20 percent Indian market share.[10]

2019 Daman Indigenous Land Clearing Protests[edit]

Valuable seafront land along the 700 metre stretch from Moti Daman Lighthouse to Jampore beach is claimed to be owned by adivasi fishing communities who have lived there for generations as well as by NRI Damanese predominantly living in Leicester, UK. In December 2018, local residents received official looking documents purportedly instructed by Praful Patel ordering the confiscation of their land and demolition of homes to make way for development.[11] In January 2019 Praful Patel hosted a hastily arranged meeting with British MP Keith Vaz but managed to allay his fears about the case.[12] However, by November the bulldozing went ahead and the Daman protests began. On 3 November 2019, Daman Collector Rakesh Minhas issued a Section 144 order banning peaceful assembly of four or more persons, slogan-shouting and the use of loudspeakers across the entire district and ordered the conversion of two High Schools into 'temporary jails'.[13] 70 protesters were held in these 'temporary jails' and another 8 arrests were made.[14] Few of the adivasi fisherfolk were rehoused whilst most languished traumatised and homeless on the streets near the rubble of their razed homes.[15] As of March 2021 the site is now billionaire Binod Chaudhary of CG Corp Global's The Fern Seaside Luxurious Tent Resort offering tourist accommodation for $80US/£57GBP/6000 rupees for night in a tent.[16]

Other corporate activities[edit]

Financial services[edit]

Chaudhary Group has a controlling stake in Nabil Bank, Nepal's largest private-sector commercial bank.[citation needed] The group operates CG Finco (financial company), United Remit (remittance company), United Finance (financial company), and United Insurance Company.

Hotels[edit]

The hospitality arm of Chaudhary Group, CG Hotels and Resorts, operates hotels.

Education[edit]

Chaudhary Group runs Chandbagh schools, Campion schools and colleges, and Delhi Public School in Nepal. Outside Nepal, it has stakes in AEC Education and Malvern House in UK.

Electronics[edit]

The group assembles and distributes consumer electronics (smartphones, refrigerators, washing machines, microwave ovens, TVs, vacuum cleaners, and various other products) across Nepal. It imports and distributes other brands such as TCL, Intex, Godrej, and Kelvinator. The best-known brand that the group deals in is LG Corporation of South Korea.[17]

Telecoms[edit]

CG Group has signed a deal worth $1 million with China's Huawei to launch 4G services in Nepal.[18]

Philanthropy[edit]

Shelter built by Chaudhary Group in Madevsthan of Kavre District, approximately 60 km east of Kathmandu

The Chaudhary Foundation assisted in building 10,000 transitional shelters for survivors of the April 2015 Nepal earthquake.[19] It also committed to build 100 schools for those damaged in the earthquake.[20][needs update] The foundation has handed over 2500 shelters and 40 school buildings. Due to government norms, the foundation is now moving away from transitional shelter to permanent housing and working on building a "model village".[needs update]

See also[edit]

References[edit]

  1. ^ "Binod Chaudhary – My Story: From the Streets of Kathmandu to a Billion Dollar Empire" (PDF). 28 May 2019. Archived (PDF) from the original on 24 October 2018. Retrieved 28 May 2019. {{cite journal}}: Cite journal requires |journal= (help)
  2. ^ "Binod Chaudhary's autobiography's English version out". The Himalayan Times. 2015-12-30. Retrieved 18 October 2018.
  3. ^ Jitpleecheep, Pitsinee (18 October 2018). "Wai Wai maker branches out as instant noodles lose steam". Bangkok Post. Retrieved 18 October 2018.
  4. ^ "Company History". Thai Preserved Food Factory Co., Ltd. Archived from the original on 2016-03-04. Retrieved 2016-02-29.
  5. ^ "Beating Hunger With Wai Wai". Chaudhary Group. Retrieved 2016-02-29.
  6. ^ "India's Tamil Nadu bans several noodle products, including Nestle's". Reuters.
  7. ^ "It's Not Just Maggi: Tamil Nadu Bans Wai Wai, Smith And Jones And Reliance Select Noodles". Huffingtonpost.in. 4 June 2015. Retrieved 2016-02-29.
  8. ^ Singh, Bikash (2015-06-15). "Assam government prohibits sale of two variants of Wai Wai noodles for 30 days". The Economic Times. Retrieved 2016-02-29.
  9. ^ "Assam lifts ban on Wai-Wai noodles". India Today. Retrieved 2016-03-20.
  10. ^ Chatterjee, Purvita (2016-01-12). "Makers of Wai Wai now eye buys to move beyond noodles". The Hindu Business Line. Retrieved 2018-10-18.
  11. ^ Uppal, Jas (6 January 2020). "Daman – Land and Property Owned by the Fishing Communities Confiscated and Homes Demolished". Justice Upheld. Retrieved 2021-03-02.
  12. ^ Vaz, Keith (15 January 2019). "Keith Vaz in plea to stop demolition in Daman". Asian Voice. Retrieved 2021-03-02.
  13. ^ Express, News Service (5 November 2019). "Demolition of houses: Section 144 in Daman after residents protest". Indian Express. Retrieved 2021-03-02.
  14. ^ The Wire, Staff (4 November 2019). "Daman: Section 144 Imposed, Two Government Schools Converted Into 'Temporary Jails'". The Wire. Retrieved 2021-03-02.
  15. ^ Uppal, Jas (6 January 2020). "Daman – Land and Property Owned by the Fishing Communities Confiscated and Homes Demolished". Justice Upheld. Retrieved 2021-03-02.
  16. ^ "CG Corp Global plans 79 Fern Hotels & Resorts in India by 2020-end". The Economic Times.
  17. ^ "Archived copy". Archived from the original on 2016-04-16. Retrieved 2016-04-02.{{cite web}}: CS1 maint: archived copy as title (link)
  18. ^ Budhathoki, Arun. "Nepal billionaire follows Ambani path into telecommunications". Nikkei Asian Review. Retrieved 16 July 2019.
  19. ^ "CG to Build 10K Temp Homes for Quake-Hit".
  20. ^ "Binod Chaudhary Helps Rebuild Nepal". Forbes.