Mr. L.D. Mittal, Chairman, Sonalika International Tractors Ltd. ranks 46th among Indian billionaires in the Forbes annual ranking of the world’s billionaires for 2016

Mr. Lachhman Das Mittal, Chairman of India’s 3rd largest tractor manufacturing company, Sonalika International Tractors Limited is ranked 46th in the list of Indian billionaires. This list appeared in the eminent forbes annual ranking of the world’s billionaires for 2016. With the net pegged at $1.7 billion. Last Year, Mr. Mittal moved up to 52nd position in 2015 from the previous 65th position in 2014.

Mr. Mittal today fondly known as “Tractor Titan” started his carrier in The Life Insurance Corporation of India (LIC) and from there on, he ventured into manufacturing of implements for agricultural needs of farmers in 1969. Back in 90’s, situation of farmers was wretched and India was far back in terms of food productivity. To cater farmer’s requirements and demands to increase food productivity, Mr. Mittal along with his two sons formed International Tractor Ltd. in 1996. Mr. Mittal’s passion and dedication to serve and empower agriculture community has been the driving force in making Sonalika, India’s 3rdlargest tractor maker. The company has been able to achieve this position in just 2 decades which is a remarkable growth.  Sonalika ITL has been able to achieve a market share of 12% in India with a growth rate of 50% in the last 4 years. Today Sonalika ITL products are sold in more than 100 countriesacross the globe and have been very well recognized in both the domestic and the international markets.

A firm believer of the philosophy of “vasudhaiva kutumbakamstating whole world as one family”, he envisions a world which is free from poverty and hunger. He is working on reforming and conserving the society since the time when it was not even made a compulsory act by the Government.  Mr. Mittal usually quotes, “There are no short cuts for success, just sheer hard work” and believes in the concept of 3Ts for success- training, training and training.

Mr. Raman Mittal, Executive Director Sonalika ITL says, “Mr. LD Mittal is a true visionary and his idea of hunger free world is a guiding force for the company’s progress. His thought and meticulous modus operandi is a source of inspiration for more than 3500 employees of the company.”

Mr. Mittal has received several awards for his contribution to the business, and is recognized widely for his sharp business acumen, vision, leadership, philanthropy and entrepreneurship. He has been the honorary consulate General of the Embassy of Macedonia. He was the President of Indian Tractor Manufacturers’ Association and Co- Chairman of ICCI expert Committee on agriculture. Mr. Mittal has also been an active member of Development Council for Automobile and Allied Industries, Govt. of India and CII National Committee on World Trade Organization.