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Meet man who owns India’s second-largest textile business, know about his educational qualification, he is from...
Starting with just 6,000 spindles in 1965, the company now boasts over 1.2 million spindles and produces 670 tonnes of yarn daily. His focus on innovation and sustainability has positioned Vardhman as a global player catering to international markets and clients.
Updated : Mar 26, 2025, 08:47 AM IST
 "SP Oswal")
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SP Oswal, the pioneer behind Vardhman Group and Padma Bhushan awardee, has played an important role in transforming the company into one of India's most successful textile giants. With over five decades of experience in the textile industry, Oswal has been instrumental in shaping the growth trajectory of the Vardhman Group, which today stands as the largest yarn manufacturer in India.
Oswal was born in 1942, in Punjab into a family with a background in textiles. He is a postgraduate in Commerce from Panjab University. Oswal joined the family business in 1966. Over the years, he introduced innovative practices and a professional work culture, which were uncommon in Ludhiana at the time. Under his leadership, Vardhman Textiles expanded its operations significantly, diversifying into yarns, fabrics, garments, sewing threads, and specialty fibers. The company now operates 15 factories across India, including Punjab, Himachal Pradesh, Madhya Pradesh, Gujarat, Tamil Nadu and Andhra Pradesh.
Starting with just 6,000 spindles in 1965, the company now boasts over 1.2 million spindles and produces 670 tonnes of yarn daily. His focus on innovation and sustainability has positioned Vardhman as a global player catering to international markets and clients.
In addition to his business achievements, Oswal is deeply committed to social responsibility. He established initiatives like village adoption programs to support cotton farmers with advanced cultivation techniques and founded educational institutions such as Sri Aurobindo College of Commerce and Management in Ludhiana. His contributions to trade and industry earned him the prestigious Padma Bhushan Award in 2010.
As Chairman of Vardhman Textiles until 2024, Oswal has left an indelible mark on the company. He was succeeded by his daughter Suchita Oswal Jain as Vice Chairperson. Vardhman Textiles' clients include national and international brands like GAP, Uniqlo, Benetton, Marks & Spencer, and H&M. With over 30,000 employees, this family business has grown to 20+ units in five states. In FY22, Vardhman Textiles’ consolidated profit post-tax grew over three times from Rs 426.91 crore to Rs 1,551.23 crore in FY21, as per Business Today.
