From Re 1 To Rs 30,910 Crore: Onkar Singh Kanwar’s Journey From Crisis To Corporate Empire

In a story that blends resilience, legacy, and entrepreneurial grit, Onkar Singh Kanwar—born in Sialkot, Pakistan in 1942—has emerged as one of India’s most respected industrialists. His journey from nearly selling his million-dollar firm for a single rupee during the 1975 Emergency to leading a Rs 30,910 crore business empire is a testament to perseverance and vision. Today, Kanwar heads Apollo Tyres, a global brand with seven manufacturing units and a presence in over 100 countries, while also steering the Artemis chain of hospitals in northern India.

The story of Onkar Singh Kanwar is not just about business—it is about rebuilding from displacement, surviving political turmoil, and transforming adversity into opportunity.

Key Highlights From Onkar Singh Kanwar’s Life And Career

- Born in Sialkot, Pakistan, in 1942; migrated to India post-partition  
- His father Raunaq Singh co-founded Apollo Tyres in the early 1970s  
- During the 1975 Emergency, Apollo faced severe financial distress; Raunaq Singh considered selling the company for Re 1  
- Onkar Singh Kanwar took charge in 1979 and turned the company around  
- Apollo Tyres is now the official jersey sponsor of the Indian Cricket Team, with a Rs 579 crore deal  

Early Life And Family Struggles

Kanwar’s family endured the trauma of partition, relocating from Pakistan to India and starting afresh. His father, Raunaq Singh, began with a pipe business before venturing into the tyre industry. Determined to equip his son with the tools for success, he sent Onkar to the United States for higher education. Armed with global exposure and technical knowledge, Kanwar returned to India to assist in the family business.

The Emergency Crisis Of 1975

The imposition of Emergency in India brought Apollo Tyres to the brink of collapse. With mounting losses and no immediate financial relief, Raunaq Singh reportedly considered selling the company for just one rupee. The situation reflected the broader economic and political instability of the time, where censorship, industrial slowdown, and policy unpredictability crippled many businesses.

Kanwar’s Turnaround Strategy

In 1979, Onkar Singh Kanwar assumed control of Apollo Tyres during its lowest phase. His strategy focused on:

- Streamlining operations and cutting non-essential costs  
- Investing in technology and quality control to compete with global brands  
- Building a strong distribution network across India  
- Cultivating a brand identity rooted in reliability and performance  

Under his leadership, Apollo expanded its manufacturing footprint, entered international markets, and diversified its product portfolio. The company’s growth was steady, driven by Kanwar’s emphasis on long-term planning and customer trust.

Global Expansion And Diversification

Apollo Tyres now operates seven factories globally, including units in India, Hungary, and the Netherlands. The brand has become synonymous with high-performance tyres for passenger vehicles, commercial fleets, and motorsports. In 2025, Apollo signed a Rs 579 crore deal to become the official jersey sponsor of the Indian Cricket Team, marking a major brand milestone.

Kanwar also ventured into healthcare, founding the Artemis chain of hospitals, which now serves thousands across northern India. His diversification reflects a commitment to both industrial and social development.

Legacy And Leadership

Onkar Singh Kanwar’s leadership style is marked by humility, strategic foresight, and a deep understanding of market dynamics. He remains actively involved in mentoring young entrepreneurs and promoting ethical business practices. His journey from near-bankruptcy to global success is now studied in business schools and cited as a model of resilience.

Looking Ahead

As Apollo Tyres continues to expand and Artemis Healthcare scales its services, Kanwar’s legacy is firmly etched in India’s industrial history. His story reminds us that even in the darkest moments—like the Emergency of 1975—vision, courage, and persistence can turn a Re 1 crisis into a multi-billion rupee triumph.

Sources: Zee News.