Success Story of Azim Premji: From Cooking Oil to IT Empire

“Success is achieved twice. Once in the mind and the second time in the real world.”- Wipro Founder Azim Premji. 

Known as the ‘Czar of the Indian IT Industry’, Azim Premji’s leadership is credited for India’s IT revolution. While taking over the Vanaspati business in the 1960s, Premji recognised the power of emerging technologies and boldly shifted Wipro’s focus to computing and software. Today, that bold pivot has placed Wipro among the World’s top IT companies. Read this article to unfold the success story of Azim Premji from managing a cooking oil company to building an IT empire.  

Azim Premji’s Biography

Source: Entrepreneur 

Early Life of Azim Premji

Azim Premji was born into a Gujarati Ismaili Muslim family. His father, Muhammed Hashim Premji, was a noted businessman known as the Rice King of Burma. Muhammed Ali Jinnah, the founder of Pakistan, invited his father to come to Pakistan, but he turned down the request and decided to stay in India. Premji completed his bachelor’s in electrical engineering from Stanford University. 

Family Business Roots 

In 1945, his father incorporated Western Indian Vegetable Products Ltd, based at Amalner, Maharashtra. The company used to manufacture cooking oil under the brand ‘Sunflower Vanaspati’, and a laundry soap called 787. However, in 1966, his father passed away, and Premji came back home from Stanford to take charge of the company. At the age of 21, Premji became chairperson of the company. Later, he diversified the company to bakery fats, ethnic ingredient-based toiletries, hair care soaps, baby toiletries, lighting products, and hydraulic cylinders. 

Shift from Cooking Oil to IT

In the 1980s, recognizing the potential of emerging technologies, Azim Premji, the visionary Wipro Founder, shifted the company’s focus from cooking oil to computing and software. Wipro Ltd was formed in 1982, and the company began manufacturing minicomputers in collaboration with Sentinel Computer Corporation. By 1984, Wipro launched its software division, developing spreadsheets and word-processing tools, and later focused on offshore software development by 1990.

Wipro’s Rise as a Global IT Leader

Source: TechGig

By the mid-1990s, Wipro became one of India’s leading manufacturers of personal computers, peripherals, and medical diagnostic equipment. In 1998, they became the second-largest software exporter from India, and gradually increased their focus on the higher-margin software services business, which accounted for the vast majority of their profits. Premji even integrated values of integrity, simplicity, and responsibility in Wipro’s DNA to strengthen trust among global clients. 

During the dot-com boom of the early 2000s, Wipro became the largest company in India by market capitalisation, reaching a value three times that of the next largest listed company, Infosys. Hence, with major shareholding, Premji became the richest Indian for five consecutive years. Under his leadership, in October 2000, the company’s shares were listed on the New York Stock Exchange [NYSE]. 

In 2004, Wipro became the second listed Indian IT company to report annual revenues exceeding $1 billion. Premji served as the CEO of the company from 2005 to 2008 and then became Chairman of the company. In 2006, Premji set up his family office named PremjiInvest [PI]. In 2007, Wipro introduced a line of supercomputers known as Wipro Supernova. In 2011, they collaborated with the ISRO and developed India’s then-fastest supercomputer, SAGA-220, which was deployed at the Vikram Sarabhai Space Centre. 

In 2012, Wipro demerged its non-IT businesses into a new private company named Wipro Enterprises. Before this demerger, the non-IT businesses accounted for about 14% of Wipro’s total revenues. In 2014, they set up their design and mobility services business division called Wipro Digital. 

In 2015, Wipro established its strategic investment arm, Wipro Ventures, to invest in early and mid-stage enterprise software startups and venture capital funds in the US, India, and Israel. In 2019, Premji retired from Wipro’s board, handing over chairmanship to Rishad Premji, his son and became Chairman Emeritus.  

In 2024, CEO Srini Pallia restructured global business lines into four key divisions: Technology Services, Business Process Services, Consulting Services, and Engineering. Recently, at Mobile World Congress, they launched TelcoAI360, an AI-first platform designed to automate telecom operations, improve network security, and accelerate new service rollouts. 

Wipro’s Service Portfolio

As of 2025, Wipro’s service offerings are divided into four Global Business Lines [GBLs], which are: 

• Wipro Technology Services: IT services in cloud, cybersecurity, data analytics, artificial intelligence, enterprise applications, and design.
• Wipro Consulting Services: Strategy advisory and business consulting services. 
• Wipro Engineering Edge: Engineering, Research and Development [ER&D] services for semiconductors and embedded systems, software-defined systems, Industry 4.0, Communications, and many more.
• Wipro Business Process Services: Business Process Management [BPM] services.  

Wipro’s Recent Acquisitions

Azim Premji’s Philanthropic Contributions

Source: Azim Premji Foundation

• In 2001, Premji founded the Azim Premji Foundation, a non-profit organisation. It works across states to improve school education and teacher training. 
• He has donated over 67% of Wipro shares to his foundation, which has created a corpus worth more than $21 billion, making it the largest philanthropic endowment in India. 
• In May 2020, his foundation collaborated with the National Centre for Biological Sciences and the Institute for Stem Cell Science and Regenerative Medicine to augment testing infrastructure to deal with the coronavirus pandemic. 

Awards & Recognition received by Azim Premji

• In 2000, Premji was conferred an honorary doctorate by the Manipal Academy of Higher Education. 
• In 2005, the Government of India honoured him with the title of Padma Bhushan for his outstanding work in trade and commerce. 
• In 2006, he was awarded the Lakshya Business Visionary by the National Institute of Industrial Engineering, Mumbai.  
• In 2009, he was awarded an honorary doctorate from Wesleyan University in Middletown, Connecticut, for his outstanding philanthropic work. 
• In 2011, Premji was awarded Padma Vibhushan, the second-highest civilian award by the Government of India.
• In 2015, he also received an honorary doctorate from Mysore University.  
• In April 2018, he was conferred with Chevalier de la Légion d’Honneur [Knight of the Legion of Honour], the highest French civilian distinction, by the French Government. 
• In December 2019, Forbes recognised him as one of the ‘Heroes of Philanthropy list of 30 altruists’ in the Asia-Pacific region and one of the ‘World’s Most Generous Philanthropists’ outside of the US.  
• In April 2019, he became the Top Indian Philanthropist. 
• Premji is recognised as the third non-American, after Richard Branson and David Sainsbury, and the first Indian to sign and join the Giving Pledge club. 
• Premji held the top position in the EdelGive Hurun India Philanthropy List for 2020. 

Key Learnings for Emerging Leaders from Azim Premji’s Success Story

• Learn to Adapt: As soon as Premji identified the potential of the IT field, he did not fear to switch. He transformed the cooking oil business into one of the world’s leading IT companies as soon as possible. 
• Don’t forget Humility: Success doesn’t have to make you arrogant. Premji’s simplicity, people-first, and frugality approach is more recognised and appreciated than his success in the IT industry. 
• Focus on Value: Premji built Wipro on ethics, integrity, and trust that resulted in long-term global respect and sustainable growth. Hence, focus on values instead of valuation. 
• Invest in People & Innovation: From IISc collaborations to modern startups through Wipro Ventures, Premji believed in nurturing talent and ideas at every stage.  
• Wealth is Meaningful When Shared: Premji, by pledging most of his wealth to education and social causes, showed that philanthropy is not charity; it is a responsibility for one with an abundance of wealth. 

Conclusion

The journey of Azim Premji, the iconic Wipro Founder, demonstrates that leadership is about vision, courage, and social responsibility. From bold business decisions to unprecedented philanthropic contributions, Premji has left a lasting impact on the corporate world and society. His story continues to inspire entrepreneurs, professionals, and leaders globally.

FAQs

Q-1 Who is Azim Premji?

Azim Premji is the founder Chairman of Wipro. He is often recognised as the ‘Czar of the Indian IT Industry’. 

Q-2 What is Azim Premji’s net worth in 2025?

As of September 2025, Forbes has estimated Azim Premji’s net worth at $10.8 billion. 

Q-3 Who is the current CEO of Wipro?

As of 2025, Srini Pallia is the current CEO of Wipro. 

Q-4 Who is the Wipro Founder?

The Wipro Founder is Azim Premji, a visionary leader who transformed Wipro from a cooking oil company into a global IT giant and is renowned for his philanthropy and ethical leadership.