CG Corp: A Company of which a Nepalese can be truly proud of in foreign countries
CG which stands for Chaudhary Group is a multinational conglomerate which owns 136 companies in 15 different sectors operating in 19 countries from Asia, Africa, North America and Europe. It’s businesses include FMCG, Real Estate, Hospitality, Banking and Finance, Telecom and many others.
A CG Corp is a company which has succeeded in making the Nepalese citizen and expats proud of their business sector. Let’s know more about them:
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Like many other multinationals and giants CG Corp also had a humble beginnings. In late 19th century Rana Prime Minister Bir Shumsher called on the business communities of India to come to Nepal in order to promote and flourish the trade in Nepal.
Among those who answered the call was Mr. Bhuramal Das Chaudhary who started the textile business in Nepal by importing the clothes from India and selling it door to door to high end clients and royalty. Later on he shifted to a small shop in Naya Sadak (New Road) and from there the seeds of future conglomerate were planted.
After Bhuramal came his son Mr. Lunkaran Das Chaudhary. Here some thing radical happened in the family business which was selling textiles for a very long period of time. Lunkaran dared to move out of it doing something which was never attempted by his family.
He dabbled his hand in construction which he did not have any experience or the knowledge. He constructed Kathmandu Trishuli Highway and iconic Soaltee Hotel. He also imported flooring and furnishing business dealing from two shops. He also veered in to industrial sector and most successful of it all was Arun Imporium country’s first departmental and retail store which had iconic brands like Panasonic and others which were hard to get even in India back in the day.
This definitely was different thinking and certainly radical for the time.
New person at the Helm:
Unfortunately in 1970’s Lunkaran Das had heart attack and his eldest son Mr. Binod Chaudhary stepped in the family business. Though young and vibrant, his previous experience in business was selling clothes in his father’s store and running a high end discotheque “Copper Floor“. The tag of legendary businessman and the billionaire status were still 4 decades away.
Nevertheless the entry of a new blood energized the family and Mr. Binod Chaudhary began to work very hard to consolidate his father’s business and start few of his own with the likes of FMCG products and Suzuki car dealership.
Innovative Ideas and Break Through:
With Binod Chaudhary at the helm of the company the company began to think out side of its comfort zone. Mr. Chaudhary did his first multinational deal of his life with the Japanese electronics giant Panasonic getting the dealership for Nepal to import its product. He wanted to open the assembly line of its product which was visionary thought at the time when China was just starting to do the same.
However the major breakthrough of CG Corp did not came through consumer electronics but through FMCG (Fast Moving Consumer Goods) which includes foods, beverages, toiletries, candies, cosmetics, over-the-counter drugs, dry goods, and other consumables. His snack items products like Pashupati biscuits were huge hit but the biggest of them was Wai Wai an instant brown noodle which began its production in 1984 mad the CG Corp a household name in Nepalese business sector.
After the major success of Wai Wai, Mr. Chaudhary was involved in the financial sectors, real estate, hospitality, insurance and many others almost all of which were successful. But its in the nature of man to want more and more and this trait helps them to get to greatness. This same trait took Mr. Chaudhary and CG Corp to new heights.
Taking the manufacturing of Wai Wai overseas with the Nepalese facility still intact to India, Serbia and Kazakhstan gave a much needed boost to go for global presence. Partnership with world renowed brand to take the business overseas in the hospitality, telecom and FMCG businesses has truly made it a global conglomerate and a proud Nepalese achievement.
The list of internationally recognized brands collaborating with CG Corp is impressive. They have collaborated with TAJ, LG, Alibaba, Huawei, Radisson, Alila and others. This has given CG Corp into a truly a global company and transformed it into CG Corp Global.
No rise of a giant is without any controversy and CG also has its share of of its controversies. Accusation ranging from destroying the health of Nepalese children to Tax evasion has been made on CG Corp. It was unfairly made a plaintiff on quite few business cases in the court over the years. But its not the brave who sees difficulty and backs down from the difficulties ahead in the road, he/she is the one who removes it and makes way for himself/herself. CG Corp has done exactly like that.
Corporate Social Responsibility:
Corporate social responsibility is a form of international private business self-regulation which aims to contribute to societal goals of a philanthropic, activist, or charitable nature by engaging in or supporting volunteering or ethically oriented practices.
CG Corp has done its more than fair share of Corporate Social Responsibility like providing scholarships to needy students, reconstruction of earthquake destroyed homes, charitable hospitals and so on. Mr. Chaudhary has established himself as a reputed philanthropist of Nepal through Chaudhary Foundation.
Forbes Billionaire List:
On February 14 2013 came the auspicious news in the then edition of Forbes Magazine which publishes the annual list of billionaire every year. That year Nepal had got its first dollar billionaire in the form of Mr. Binod Chaudhary, the founder of CG Corp the first multinational company of Nepal. After the announcement, he said, “I am humbled. As a businessman, you don’t get a Nobel. This is my Nobel Prize, I see this as a recognition for the 40 years of my hard work” . What a gentleman!!
From activities we can discern that CG Corp plans to enter into telecom industry with the launch of C.G Telecom and signing the deal with Huawei for a million dollars to launch 4G services in Nepal. We just have to see that will it become the new sensation in Nepalese business sectors.
Conclusion: Does CG Corp has a bright future?
With the current scenario of economic conditions in Nepal one may show some concerns but personally I see a bright future in store for our Nepalese Multinational CG Corp.