New Delhi, July 6 -- In 2006, Murari Lal Lohia founded Jupiter Wagons along with his US-returned son, Vivek Lohia. Two decades later, Jupiter Wagons has emerged as one of India's leading railway wagon manufacturers, with the octogenarian entrepreneur now among Kolkata's wealthiest businessmen. From manufacturing railway wagons, wheelsets and braking systems, the company has steadily diversified into commercial vehicles through Jupiter Electric Mobility (JEM). It is now preparing for its next big leap, manufacturing Metro and Vande Bharat coaches in West Bengal. Lohia said the new manufacturing facility is expected to be ready within the next 15 months in Hooghly district.
Today, Jupiter Wagons operates nine plants in Bengal, Jamshedpur, Indore, Jabalpur and Himachal Pradesh. Born in Rajasthan, Lohia moved to Kolkata at the age of three and the city has remained both his home and the centre of his professional journey ever since. The veteran industrialist is also a passionate patron of sports and culture. As president of East Bengal, one of Bengal's most iconic football clubs, he dreams of establishing a sports university in the state and nurturing more local sporting talent.
We met the octogenarian businessman at his Taratala office on a rainy afternoon in Kolkata. He fondly recalls negotiating a deal with the legendary Ratan Tata as a 22-year-old, speaks about why he still makes it a point to visit factory workshops and shares his happiness that his grandson has begun training to join the family business. Lohia also speaks with conviction about India's future and said the country will become the global leader in supplying Original Equipment Manufacturer (OEM) products within the next five years. From business and manufacturing to sports and culture, the business maestro speaks candidly with the Millennium Post.
When Jupiter Wagons entered the railway sector in 2006, a handful of established players dominated the market. What did you believe they were missing that gave Jupiter an opportunity to grow so rapidly?
Yes, Texmaco and Titagarh were already there when we entered the market. But I have always believed in introducing new products. Today, we have nine plants, including two in Bengal-one at Bandel and another at Taratala. My philosophy in life is to keep moving forward. Every year, I introduced a new product. From wagon manufacturing, we expanded into braking systems, containers, passenger coaches and electric commercial vehicles. Diversification is the key to any business.
I have already planned five new products for the next five years. As a businessman, you should always have a backup plan. Within the next 15 months, we will set up a new plant in Hooghly district dedicated to manufacturing Vande Bharat and Metro coaches. The exact location will be disclosed later. We are also interested in manufacturing tram cars and tracks. we have done that before. With the new Bengal government interested to revive trams, we are hopeful. In addition, we are setting up an integrated axle and wheel manufacturing unit in Odisha in collaboration with a German partner, with an investment of Rs 3,000 crore. The plant is expected to become operational by December 2027. We also have major plans to establish a sports university in Bengal.
Before becoming an entrepreneur, you spent years building businesses for others. What was the defining moment when you decided it was time to build something of your own?
I have two sons. Both were studying in the USA while I was in service. I always felt they should not work for someone else. After they completed their education, I asked them to return to India. Initially, they questioned why they should come back when the USA offered far more opportunities. But India has always been my priority. I told them we would build our own business in our own country. In 2006, I founded Jupiter Wagons along with my son Vivek.
Did you always want to become a businessman?
My father used to produce cotton in Gujarat and sell it in Kolkata. He was never short of money. I learnt an important lesson in business from him. if you don't have money, nobody comes to you. If I have money, I can serve the local population. But money alone is not enough. You also need knowledge. That is why I studied hard and got into IIT Kharagpur. Later, I went to the USA for my MBA and received training at General Motors. After returning to Kolkata, I joined Hindustan Development Corporation (HDC). That was the only job I ever did. In 2006, Jupiter Wagons was founded.
You and your sons run the company together. How did the two generations complement each other in building the business? Were there moments when your approaches differed significantly?
There have been moments of agreement and disagreement. That's only natural. I often think about whether the third generation will remain interested in the business. I have seen this happen in many family-run businesses. Till the second generation, there is strong involvement. But the third generation is often less interested in talking to workers or visiting workshops. They inherit easy money and prefer investing in shares.
I am happy that both my sons and now my grandson, who is 20 and currently undergoing training under me, are involved. The officers and engineers in my company have also stayed with me for the last 20 to 25 years. It is loyalty that makes the difference. All our nine plants are doing well.
Your acquisitions of Stone India and Bonatrans India have significantly expanded the company's scale and capabilities. You have also partnered with global companies such as Tatravagonka. How important have these collaborations been in taking Jupiter global?
Setting up an industry in Europe is not easy. I convinced my partners there to invest in India. Today, we operate in five countries, including Slovakia, France, the Czech Republic, Italy and Germany. Over the next five years, we plan to expand into more parts of Europe.
India is pushing 'Make in India' and investing heavily in rail infrastructure. Do you believe India can become a global engineering powerhouse?
India will become the leader in supplying Original Equipment Manufacturer (OEM) products within the next five years. Whether it is defence, railways or any other sector, India will lead. Artificial Intelligence (AI) is also transforming every industry, and the railway sector will benefit immensely from it.
You must have been delighted after East Bengal won their first-ever ISL title and their first national league title in 22 years.
I have always been passionate about sports. I am not a president who believes that simply giving money to the club is enough. I want players from Bengal and across India to represent East Bengal. I want to see more grassroots and local talent coming through the system. That is why we want to build a sports university in Bengal to nurture homegrown sporting talent. I plan to approach the West Bengal government for around 35 acres of land to set up the sports university. The project will involve an investment of nearly Rs 300 crore. I am also interested in culture, which is why I became associated with Anamika Kala Sangam and Padatik in Kolkata. Today, sports and culture give me immense satisfaction.
Published by HT Digital Content Services with permission from Millennium Post.