Seth Ramnarain Ruia (also known as Ramnarain Hurnundrai) was an Indian businessperson. He is also referred as the ''Cotton King''. He was one of the co-founders of

Bank of India Bank of India (BOI) is an Indian public sector bank headquartered in Bandra Kurla Complex, Mumbai. Founded in 1906, it has been government-owned since nationalisation in 1969. BoI is a founder member of SWIFT (Society for Worldwide Inter ...

along with Sir Sassoon David and

Sir Cowasji Jehangir Readymoney Sir Cowasji Jehangir Readymoney, CSI (24 May 1812 – 19 July 1878) was a Parsi community leader, philanthropist and industrialist of Bombay, India. Family and background Cowasji Jehangir Readymoney came from a wealthy Parsi family. His great ...

. Ramnarain Ruia College, a college located in

Mumbai Mumbai (, ; also known as Bombay — the official name until 1995) is the capital city of the Indian state of Maharashtra and the ''de facto'' financial centre of India. According to the United Nations, as of 2018, Mumbai is the secon ...

, is named after him.

Life and career

He was born around the 1860s. In 1883, Ramnarain became a broker to the opium department of Sassoon J. David, the well-known Armenian firm in Bombay. In 1891, he became a guaranteed broker to Sassoon J. David's cotton department. In 1905, Ruia purchased Phoenix Mills and two other mills in 1905 to start his textiles business. The other two mills, which he had purchased was the Bradbury Mills at Kalbadevi) and the Dawn Mills at

Lower Parel Lower Parel (Pronunciation: əɾəɭ əɾeːl station code: PL) railway station is a railway station on the Western Line of the Mumbai Suburban Railway, India. The next station south is Mahalaxmi railway station; the next station north is ...

Bombay Mumbai (, ; also known as Bombay — the official name until 1995) is the capital city of the Indian state of Maharashtra and the '' de facto'' financial centre of India. According to the United Nations, as of 2018, Mumbai is the sec ...

. In 1959, the firm was listed on the

Bombay Stock Exchange BSE Limited, also known as the Bombay Stock Exchange (BSE), is an Indian stock exchange. It is located on Dalal Street in Mumbai. Established in 1875 by cotton merchant Premchand Roychand, a Jain businessman, it is the oldest stock exchange i ...

. The firm also ventured into real estate in 1987and built High Street Phoenix,

. He co-founded

in 1906.

References

{{DEFAULTSORT:Ruia, Ramnarain Indian businesspeople in textiles Indian industrialists Businesspeople from Rajasthan Marwari people 19th-century Indian businesspeople Indian company founders 20th-century Indian businesspeople Industrial history of India

Life and career

Further reading

References