When we talk about India’s dairy revolution, the towering figure of Dr. Verghese Kurien comes to mind. Yet, there are unsung heroes who have been instrumental in carrying forward this visionary legacy. One such remarkable name is Devendra Shah, the founder and chairperson of Parag Milk Food Ltd. With a relentless spirit and an unyielding commitment, Shah has not only transformed the dairy landscape but also raised the bar for the entire industry.
Who is Devendra Shah?
Amidst the white revolution that led to an exponential rise in milk production, Devendra Shah stood out as a beacon of hope for dairy farmers. When co-operatives declared milk holidays in the Pune region, he devised an ingenious solution to the crisis. Collecting milk from farmers on these holidays, Shah laid the foundation of Parag Milk Foods Ltd. Established in 1992, the company marked the beginning of a journey that would revolutionize the dairy industry.
Work as a social entrepreneur
Devendra Shah’s profound connection with rural India has enabled him to leave an indelible impact on the communities surrounding his dairy plants. Beyond his role at Parag Milk Foods, Shah is deeply engaged in various social upliftment initiatives. As the chairman of Shard Sahakari Bank, a local co-operative bank, and a key figure in the Bhimashankar Sugar factory, he has exemplified the true essence of social responsibility.
Shah’s involvement with the National Centre for Rural Development further underscores his commitment to education in rural India. His membership in the Executive Committee of the Indian Dairy Association and his nomination by the Government of India to the Managing Committee of the National Dairy Research Institute reflect his influence on a national scale.
Achievements
Devendra Shah’s dedication to enhancing milk productivity and reducing production costs has garnered widespread recognition. He has been the recipient of numerous awards, including the Maharashtra Udyog Bhushan from the Government of Maharashtra and the Entrepreneur of the Year Award. These accolades stand as a testament to his visionary leadership and relentless pursuit of excellence.
Success
In 1992, Devendra Shah took a bold step by inaugurating a small dairy unit in Manchar, near Pune. What started with a modest production of 20,000 liters of milk daily has now evolved into a dairy empire that produces a staggering 20 lakh liters daily. Parag Milk Foods, under Shah’s astute guidance, has not only weathered the challenges but has also soared to a market capitalization of over Rs 2,000 crore in 2017.
Parag Milk Foods
Parag Milk Foods, a true testament to Devendra Shah’s entrepreneurial acumen, boasts a diversified portfolio of dairy products. Under the brand names Gowardhan, Go, Topp Up, and Pride of Cows, the company offers an array of products, including ghee, fresh milk, cheese, butter, and more.
Partnership with brands like Domino’s, Pizza Hut
Devendra Shah’s resilience was put to the test during the early 1990s when the dairy sector was deregulated. In the midst of India’s economic liberalization, Shah capitalized on the changing landscape. His dairy unit’s production capacity surged to 3 lakh liters a day, and the company’s milk powder exports experienced unprecedented growth. Parag Milk Foods emerged as a key supplier to renowned chains like Pizza Hut, Domino’s Pizza, and Papa John’s.
A daughter’s path to continuity
The legacy of Devendra Shah continues to thrive in the capable hands of his daughter, Akshali Shah. Inspired by her father’s dedication, Akshali pursued an MBA in Family Business Management from S.P Jain University. Since joining Parag Milk Foods as a management trainee in 2010, she has risen through the ranks to become the Vice President of Sales and Marketing.
With his daughter, Akshali, poised to continue the legacy, the Shah family exemplifies the very essence of the Indian entrepreneurial spirit. Through their journey, they have not only enriched the dairy industry but have also become a beacon of inspiration for generations to come.
