Cherukuri Ramoji Rao a veteran of Indian media and business has passed away at the age of 88. His rise from a modest start as an exporter for Indian products into India’s Soviet Union to becoming a multifaceted entrepreneur reveals a lifetime that was full of amazing achievements. Ramoji Rao was not born to affluence, but rather was married to it via an engagement to Rama Devi, who became a key partner in his political and business endeavors.
What were The Rao’s Major Business Ventures?
Ramoji Rao’s business acumen was apparent from the beginning when he established Margadarsi Chit Funds in 1962. The venture was the start of what would later become an extensive business empire. With a small amount of capital and a lack of knowledge among the public about the concept of a chit fund and what it was, he developed a strategy which encouraged small savings within communities in rural areas, providing financial services previously unavailable to the people. The idea was successful and, as of today, Margadarsi is a major player with a turnover estimated at more than Rs 10,000 crore. The company has expanded its reach to Andhra Pradesh, Telangana, Karnataka and Tamil Nadu.
How did Rao Influence on the Media Landscape?
It was in 1974 that Rao began his journey into media when he launched his Telugu weekly newspaper Eenadu. It was the time that there was a regional landscape of media one of newspapers that failed to reach out to the local population. Eenadu changed this by its raunchy style and hyper-local approach rapidly becoming the top publication within Andhra Pradesh. In 1979, the newspaper had an audience of approximately 180,000, and was able to capture a large portion of the readership in the region. Rao’s passion for embracing modern technologies such as the facsimile machine helped Eenadu to increase its reach and be more responsive.
What was the role of Rao in Politics?
Outside of business, Rao was a key player in the political scene that was Andhra Pradesh. He played a key role in the growth of the Telugu Desam Party (TDP) and leveraged his media power in order to affect public perception and affect political outcomes. His involvement in politics wasn’t just about power, but it was also about bringing transformational changes to the region showing his commitment towards his family roots.
Conclusion
Cherukuri Ramoji Rao’s demise is the final chapter of an era, however his legacy will continue to live on by the numerous organizations and institutions he founded. His work, which was characterized by a keen awareness of innovation, power and the local demands and has left a lasting impression on Indian media and industry. Even in his last moments, Rao was brimming with ideas, an indication of his unwavering spirit and vision. Rao’s story isn’t just one of financial success, but it also has a profound impact on society and a model for the next generation of entrepreneurs around the world.