After leaving CMC, he joined Sam Pitroda's team, where he worked for the Center for Development of Telematics.
In 1995, when the then Prime Minister PV Narasimha Rao announced the arrival of the internet in India, one Dinesh Agarwal, who worked in the US with HCL resigned from his job. Yet, upon his return, he found himself at a crossroads, unsure of his next professional pursuit amid the internet wave sweeping India. Harnessing the internet revolution, Dinesh Agarwal founded IndiaMart, which now has a market capitalization of Rs 17,244.01 crore.
Dinesh Agarwal was born on February 19, 1969. After earning a degree in Computer Science from Harcourt Butler Technical University in Kanpur, he gained experience in the field by working with several companies. He started his career with CMC, which was later acquired by Tata's company, TCS. At CMC, Dinesh developed India's first railway reservation system, indicating that he was destined for significant achievements in life.
After leaving CMC, he joined Sam Pitroda's team, where he worked for the Center for Development of Telematics. He reportedly worked on creating India's first digital telephone exchange. Then, in 1992, he joined the major tech company HCL in the US. While working at HCL, he witnessed the growth of the internet in America. It was from here that he realized the potential impact of the internet on the people of India.
Dinesh returned to India in August 1995, accompanied by his wife and children accompanied him.
Hit by the online-offline hybrid model, IndiaMart thrived. After returning to India, Dinesh realized that a website could be created for Indian exporters. He wanted to create an online directory of exporters and suppliers. However, the government did not grant permission for this. Later, he created a free listing form and sent it to all sellers. By obtaining permission this way, he made sellers' information public. This was the birth of IndiaMart. The initial tagline of IndiaMart was also - The Global Gateway to Indian Marketplace. Agarwal started this company with an investment of just Rs 40,000.
Initially, IndiaMart focused only on exporters. In an interview, Dinesh Agarwal revealed, "From 1997 to 2001, we listed every export for free. When we received inquiries about the business, we would print them in the evening and fax them overnight. And the next day, we would send those inquiries by post." This online-offline hybrid model made IndiaMart a big name in the Indian export business world.
The economic crisis made India the king of B2B. In 2007-08, the United States faced a major economic crisis. The impact of recession began to be felt worldwide. The work of exports also slowed down. It was during this time that Dinesh and his cousin Brijesh shifted IndiaMart's focus from exports to the B2B market in India. This meant that wholesalers and retailers came together on one platform. They could place inquiries according to their needs and purchase goods. Thereby, the work of both (wholesalers and retailers) became much easier, and IndiaMart also flourished. After that, we all know what happened.
Business grew rapidly. The company opened 52 offices within 52 weeks in 2010. This means a new office opened every week. Speaking of Dinesh Agarwal's net worth, it has exceeded Rs 5,000 crore. According to Trendline, by March 31, 2024, Dinesh Agarwal has stakes in 9 companies. Based on these, his net worth reaches Rs 5,316.9 crore.
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