NewsBytes
    Hindi Tamil Telugu
    More
    In the news
    Narendra Modi
    Amit Shah
    Box Office Collection
    Bharatiya Janata Party (BJP)
    OTT releases
    Hindi Tamil Telugu
    NewsBytes
    User Placeholder

    Hi,

    Logout

    India
    Business
    World
    Politics
    Sports
    Technology
    Entertainment
    Auto
    Lifestyle
    Inspirational
    Career
    Bengaluru
    Delhi
    Mumbai

    Download Android App

    Follow us on
    • Facebook
    • Twitter
    • Linkedin
    Home / News / Business News / Meet Lalit Khaitan, India's newest billionaire at age of 80
    Next Article
    Meet Lalit Khaitan, India's newest billionaire at age of 80
    Lalit Khaitan was a teetotaler before his father entered into the alcohol business

    Meet Lalit Khaitan, India's newest billionaire at age of 80

    By Rishabh Raj
    Dec 14, 2023
    05:25 pm

    What's the story

    At the age of 80, Lalit Khaitan, chairman of Delhi-based Radico Khaitan, has become India's newest billionaire.

    Forbes reports that his net worth reached $1 billion after his company's shares soared over 50% this year.

    He owns a 40% stake in Radico Khaitan, the company renowned for producing alcoholic beverages such as Magic Moments vodka and 8PM whiskey.

    Details

    Lalit started running Radico Khaitan in 1995

    In 1972, Lalit's father GN Khaitan bought the loss-making Rampur Distillery & Chemical Company Ltd. for Rs. 16 lakh.

    After inheriting the distillery in 1995, Lalit transformed it into one of the largest Indian Made Foreign Liquor (IMFL) manufacturers, with products available in over 85 countries.

    In a 2020 interview with Fortune, Lalit said, "From class 9 onwards, I was very clear that I wanted to be in the liquor trade."

    What Next?

    Expansion into branded beverages 

    Lalit and his son Abhishek expanded into branded beverages to overcome business challenges from rival distilleries.

    They launched 8PM whiskey in August 1998, and their portfolio now includes premium brands as well, including the award-winning Rampur single malt.

    At present, the company offers Rampur whiskey, 8PM whiskey, Magic Moments vodka, Contessa rum, Jaisalmer gin, and Old Admiral brandy in its brand portfolio.

    Insights

    Education and early life

    Lalit studied at Mayo College, Ajmer and St. Xavier's College, Kolkata.

    He has a Bachelor's degree in Engineering from BMS College of Engineering, Bengaluru, and has completed a Managerial Finance and Accounting course at Harvard, US.

    Interestingly, Lalit was a teetotaler before his father bought the Rampur Distillery. What's intriguing is that his father, GN Khaitan, hailing from a traditional Marwari family, was a lifelong teetotaler.

    Insights

    Awards and accolades

    Lalit was honored with the 'Lifetime Achievement Award' by the UPDA (Uttar Pradesh Distillers Association) in 2017 for his remarkable contribution to the industry.

    He was also honored with the 'Inspirational Lifetime Achievement Award' at Alcobev 2008 held by the Confederation of Indian Alcoholic Beverage Companies.

    He has been associated with several developmental projects, has represented India with several international delegations, and is involved in social and educational activities across India.

    Facebook
    Whatsapp
    Twitter
    Linkedin
    Related News
    Latest
    Liquor

    Latest

    Netflix brings 'Here Comes Flood': All about Robert Pattinson's next Christopher Nolan
    Chelsea secure crucial win against Manchester United: Key stats Manchester United
    Aston Villa get Champions League boost with win over Tottenham Aston Villa
    TV side roles to film darling: Mrunal's journey to stardom  Bollywood

    Liquor

    Delhi lowers legal drinking age from 25 to 21 Manish Sisodia
    Lowering of drinking-age will stop 'booze visits' to NCR: Officials Delhi Government
    Now order full liquor bottle on table in Delhi clubs Excise Act
    Aligarh hooch tragedy: Death toll rises to 36, officials suspended Uttar Pradesh
    Indian Premier League (IPL) Celebrity Hollywood Bollywood UEFA Champions League Tennis Football Smartphones Cryptocurrency Upcoming Movies Premier League Cricket News Latest automobiles Latest Cars Upcoming Cars Latest Bikes Upcoming Tablets
    About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive Download DevBytes Find Cricket Statistics
    Follow us on
    Facebook Twitter Linkedin
    All rights reserved © NewsBytes 2025