A tribute to Marwaris

It is interesting to note that entrepreneurship in India has emerged from Bania or Vaishya families. They have for ages have controlled the trade routes and the  banking business. Business class in India for ages have been Aggarwals and Guptas in the North, Chettiars in the South, Parsees, Gujarati Jains and Banias, Muslim Khojas and Memons in the West, and Marwaris across the country. Of these, Marwaris have proven to be the most successful.

Out of the 128 merchant Marwari sub-castes in Rajasthan, only five have become prominent. These are the Maheshwaris, Oswals, Aggarwals, Porwals and Khandelwals. For centuries Marwaris were bankers and helped finance the great trade route which passed through northern Rajasthan. During the Mughal days, they were financiers to emperors. With the coming of the railway, there was a huge migration of Marwari traders into India’s remotest villages. Thus spread their glory.

If you see a market-place with no garment shop, what will the entrepreneur inside you do? It will be urged to start a new garment shop in the area, thereby taping the opportunity. But soon, your competitors will follow you and your investment will be a short term legacy. Marwaris do just the opposite. They start shops together. You will see roads filled with garment shops owned by Marwaris. Such investment ensures long term profits and also reduced costs of investment, supplies and distribution.

Another area where they are excellent is their ability to learn local language and gell with the remotest cultures of India. Marwaris scored over other castes because they were better at taking risks. If a new player wants to enter business, the entire community comes forward to offer help. This community support model is excellent, and is rarely seen in modern capitalist mindset. Instead of competing, they just collaborate and work magic.