Tycoon Naresh Goyal's story

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One of the great things about the new India is that there are many self-made millionaires and many self-made billionaires. For the most part they tend to be engineers who made it big, small traders who became big traders.

However, it is very rare to find somebody who was literally on the street, who had to read his school books by the night of a street lamp, who made his home on the floor of his uncle’s office, who slept on a gadda and went on to create a world-class institution. Went onto not just become a billionaire but to prove that Indians could run something that was really the finest in the world. That is something that always distinguishes Naresh Goyal from just about everybody. Vir Sanghi talks to the Jet Airways chief to find more about his personality on his CNBC-TV18 show Tycoons With Vir Sanghvi.


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Here is a verbatim transcript of the exclusive interview with Naresh Goyal on CNBC-TV18. Also watch the accompanying video.

Q: We’ve talked about where you came from; let us talk about where you are now. You’re actually not in that good a place. Is this the worst crisis of your career?

A: I have gone through worst crises.

Q: Like when?

A: When I had no money to eat.

Q: Really?

A: I had no money to educate myself and no place to stay.

Q: Let me tell you what little I know and I know this because it is not widely known but I have seen a very beautiful film your daughter made for your sixtieth birthday. It turns out that though your family were quite prosperous, they lost all their money and at one stage the home in which you lived in the small town called Sangrur was actually auctioned-off by the government and the bank, and all your possessions were thrown on the street?

A: It is correct.

Q: How old were you?

A: I was 12 years old.

Q: You were 12-years old and every single thing you owned had been thrown on the street.

A: Everything that the family owned, yes.

Q: What did you do then?

A: I lived with some close family friends in Sangrur to finish my basic education. Then my brother and mother’s uncle helped get me my Bachelor of Commerce degree.

Q: Where did you go for college?

A: I went to Patiala.

Q: What was the fee at that point in time?

A: At that time it used to cost me about Rs 110 a month.

Q: And that bit is true that when you were actually thrown out on the street and you still had to study because there were no lights at home, you would sit under street lamp and read your books?