Harindarpal Banga
Harindarpal Singh Banga | |
|---|---|
| Born | Amritsar, India |
| Occupation(s) | Businessman, philanthropist |
| Years active | 1979–present |
| Known for | Founder, Chairman and CEO of The Caravel Group Limited |
Harindarpal Singh Banga, commonly referred to as Harry Banga, is a prominent Indian businessman and philanthropist. He holds the positions of Founder, Chairman, and CEO at The Caravel Group Limited.
By April 2022, Banga's wealth was valued at approximately $2.8 billion, placing him at the 1,196th spot among the world's richest individuals.
Early life and education
Originating from Amritsar and brought up in Chandigarh, Banga received his education at Training Ship Dufferin, recognized as India's oldest maritime training institution. He obtained his Master Mariner qualification in 1976 and was commanding commercial vessels by the age of 27.
Career
Starting his professional journey in the maritime sector, Banga later transitioned into commodities trading. In 1979, he took on the role of Operations Manager at Gulf Group in Hong Kong. After departing from Gulf in 1989, he partnered early on with Richard Elman to help establish Noble Chartering Limited under Noble Group Limited. Noble Group eventually became Asia’s leading commodities trading company and secured a place among Fortune 100 corporations.
Following Noble’s public listing in Hong Kong in 1994, Banga assumed the role of Vice-Chairman and was recognized as a pivotal contributor to the company’s growth. His two-decade tenure at Noble positioned him among Hong Kong’s wealthiest business figures.
In 2010, he resigned from his Vice-Chairman position but retained the title of Vice-Chairman Emeritus. The subsequent year, he acquired Fleet Management Limited—Noble Group's ship management division—which ranks as one of the largest independent ship management companies globally. Banga fully divested from Noble by 2012 before launching The Caravel Group alongside his sons.
Philanthropy
Banga directs his charitable initiatives mainly through The Caravel Group’s philanthropic branch, The Caravel Foundation Limited. This foundation offers scholarships to students attending Dartmouth College, Duke University, and Princeton University. Additionally, it has established a strategic collaboration with the City University of Hong Kong (CityU).
Awards
- Honored with the Pravasi Bharatiya Samman in 2011, which is the highest distinction awarded by the Indian government to overseas Indians.
- Named among “Asia’s Most Influential Business Leaders” by The Economic Times in 2019.