1922 - 2002
The man who could afford only one paisa a day (100th of a Rupee) for meals 40 years ago, today had 9000 people on his payroll. Another 20,000 people get indirect work through his organizations.
If the nineties are a time when changes like liberalization and globalization are gaining momentum, the Raunaq Group too is keeping pace with the times. Today, the Raunaq Group is an equal opportunities employer. Offering equality not just between the sexes, but also on parameters like religion, region, background and castle.
This US$ 600 Million group led by the tireless Dr. Raunaq Singh a man who aspired to take on the challenges of the liberalization of the Indian economy and the opportunities of the coming century.
India will need to rely on a new infrastructure system of power and energy. There will emerge a need for reliable telecommunications and the Raunaq Group is poised to enter this area too. The Group is also diversifying into other areas like IT, pharmaceuticals and finance to meet the challenges of a liberalized India.
Raunaq Group of companies understand that changing times call for changing responses. And that is what has built the business from the ABC of entrepreneurship, to the XYZ of a vast and diversified corporate empire.
Industry Association Responsibilities
With his dynamic leadership Raunaq Singh was instrumental in strengthening the working of several Industry & Trade Associations in key leadership position. Some of these are:
President Federation of Indian Chambers of Commerce & Industry (FICCI)
President The Associated Chambers of Commerce and Industry of India (ASSOCHAM)
Chairman Engineering Export Promotion Council (EEPC)
President Punjab, Haryana, Delhi Chamber of Commerce & Industry
Chairman Automotive Tyre Manufacturers Association
President Federation of Indian Export Organization (for 5 consecutive term)
Chairman Indo-American Chamber of Commerce
Chairman Joint Business Councils
He distinguished himself in each of these positions and made a significant contribution to the growth of the Industry.
A widely traveled person, Raunaq Singh led Business delegations to well over 25 countries during the last several years.
He was a great advocate of economic liberalization and globalization of the Indian business. He strived to put the Indian industry on the global map and worked diligently towards this goal until the last day of his life.
Indian government Nominations
Keen to utilize his business perception and inject a dynamic Management style the Indian Government nominated Raunaq Singh in several important organization namely:
Director Board of Trade.
Director Export Import Bank of India.
Director Export Credit Guarantee Corporation
Member National Integration Council
Member Indo-German Consultative Group (nominated by the Prime Minister of India)
Member Government Council of National Federation for Communal Harmony
Member Executive Board of Indian Institute of Foreign Trade (IIFI)
Chairman Committee to study establishment of a Free Port in India
First Chairman Maruti Ltd.
Raunaq Singh was the recipient of several awards for entrepreneurship business growth instituted by Government and Quasi – Government bodies. With his penchant for exports and export promotion for Indian Industry he was often referred to as "Mr. Exporter".
Raunaq Singh was elected as a member of the Executive Board of the International Chamber of Commerce, Paris for a three-year term.