Textile visionary and captain of the Arvind armada that sailed successfully through the mid-1980s’ textile crisis, Arvind N Lalbhai passes away at the age of 89. Lalbhai was non-executive chairman of the Rs 1,890-crore Arvind Mills and was involved in the company till the end.
Lalbhai spearheaded the company as managing director from 1975 till 2002. During his tenure, the company saw tremendous growth across all verticals, evolving its entity from being a manufacturer of high-quality fabrics to one of the foremost textiles companies with a dominant play even in the global textiles arena.
Born on April 3, 1918, Arvind Lalbhai graduated in science from Bombay University and joined Asoka Mills. He became chairman of Asoka Mills and was in that post for three decades. He was on the boards of several other textile mills and some companies producing dyes and chemicals, engineering, glass, paper and rubber.
Lalbhai also served on the boards of State Bank of India, Gujarat Financial Corporation, Gujarat State Warehousing Corporation Ltd, and several other textile and business associations, including the Federation of Indian Chambers of Commerce and Industry (FICCI) in 1981-82.