A commemorative postage stamp on Thiru M V Arunachalam, a Tamil businessman :
Issued by India
Issued on May 15, 2018
Issued for : The Department of Posts is pleased to issue a Commemorative Postage Stamp on M.V. Arunachalam.
Stamp/FDC/Brochure/Cancellation Cachet : Smt. Alka Sharma
Type : Stamp, Mint Condition
Colour : Multi Colour
Denomination : 500 Paise
Stamps Printed : 605200
Printing Process : Wet Offset
Printer : Security Printing Press, Hyderabad
Name : Thiru M. V. Arunachalam
Born on 19 Jul, 1929 at Pallathur, Sivagangai district, Tamil Nadu, India
Died on 4 Sep, 1996
- (Late) Shri M.V. Arunachalam was one of the leading personalities of India, who made his mark in the fields of business and community service, leaving a lasting impression for others to benefit from and to look up to.
- M.V. Arunachalam was born on 19 July 1929 in Pallathur village of Tamil Nadu in a family of Nattukottai Chettiars. His great-grandfather Dewan Bahadur AM Murugappa Chettiar, father Shri AMM Vellayan Chettiar, uncles AMM Murugappa Chettiar and AMM Arunachalam Chettiar inspired young M. V. Arunachalam to follow them into the twin streams of business and community service. He completed his formal education in Madras (later renamed as Chennai), and obtained a B.Sc. (Geology) degree from the Presidency College in 1948.
- M.V. Arunachalam was inducted into the industrial activity of the family, initially into the exports business of which iron ore was a major portion. Gradually he went on to take up additional roles and responsibilities in the Group, guiding each business to make significant contributions to the Indian middle-class and the Indian Economy that was emerging and finding its own shape. Under his stewardship as the Chief Executive Officer, the Murugappa Group grew in size and stature, reaching a turnover of Rs 1800 crores in April 1995. Thanks to his guidance and nurturing of leadership, the Murugappa Group is now one of the largest conglomerates in India, spread over 6 continents and with a turnover of INR 24300 Crores. He also made his mark in a wide variety of institutions, industry bodies and regulatory authorities, leaving a lasting impression on each one of them.
- At different times in his long and distinguished career, M.V. Arunachalam grew the dimensions of the industrial activity of Murugappa Group, and hence its contribution to Indian Economy. He also took up important business positions of Director Carborundum Universal, Chairman TI Diamond Chains Ltd, MD TTI – later CMD, Chairman EID Parry India Ltd, Director Coromandel Fertilisers Ltd and CEO Murugappa Group of Companies.
- His specific contribution to the recovery and successful turnaround of India’s second-oldest company EID Parry (India) Ltd is legendary. The Murugappa Group took over the company in 1981 with Shri M.V. Arunachalam as the Chairman, and within a brief period of three years brought it back not only to the levels of business stability, but also generating dividends. The company recently celebrated its 225th year of being one of the most significant contributors to India’s sugar industry.
- M.V. Arunachalam served on the Boards of various companies across industry sectors, leaving his indelible mark over their future growth paths. An active player in the proceedings of industry forums and community forums, he rose to be the Head of South India Chamber of Commerce in the year 1964-65. He also headed Madras Management Association in the same year, and served as the Head of Madras Productivity Council. He became the Governor of Rotary Club covering Tamil Nadu, Kerala and Sri Lanka, even before he was 40 years of age.
- As a natural progression, his contributions moved on to the national arena. He was the President of Indian National Committee of International Chamber of Commerce (ICC) in the early 1970s. He also served as Vice Chairman of Commission on International Trade and Investment Policy, one of the flagship commissions of the Paris-based International Chamber of Commerce. M.V. Arunachalam joined the committee of Federation of India Chamber of Commerce and Industry (FICCI) in 1965, and chaired the Golden Jubilee Session in 1976-77.
- He served as the Chairman of Neyveli Lignite Corporation for the period 1969-70, as a Trustee of Unit Trust of India from 1971 to 1976, as Chairman of Madras Fertilizers Limited (1977-78) and Tamil Nadu Industrial Investment Corporation (1981-86). He was also a Member of the Board of Reserve Bank of India from 1977 to 1994, possibly a record tenure of 17 years. He also served on the Board of Industrial Credit and Investment Corporation of India (ICICI) for a dozen years.
- M.V. Arunachalam was active in the Joint Business Councils (JBCs) which was started in 1966 with the formation of the first India–Japan and Japan–India Business Corporation Committee with FICCI and the Japan Chambers of Commerce and Industry being the respective partners. For his contributions to the development of industrial activity, he was awarded The Order of the Sacred Treasure, Gold and Silver Star by the Emperor of Japan in 1996.
- His contributions to the field of education came across in his responsibilities as Chairman of Governing Council of Central Electro-Chemical Research Institute, Karaikudi (1970-72), Member of Governing Body of Indian Institute of Management Ahmedabad (IIM-A) and Anna University Syndicate at Madras. He has been a member of Executive Committee of Kalakshetra, a leading organization in preservation and promotion of Fine Arts. He also served as Chairman of Madras Kendra of Bhartiya Vidya Bhavan.
- The bright light that was the constant source of energy to industry, community and society at large, went off into the horizon on 04 September 1996. The rich tributes paid by his contemporaries, from across Industry, Government and society at large, bear testimony to the great impact created by him on all.
- Text : Based on the information received from proponent.