The Founder Mindset that Built Marico
A masterclass in building category leaders & institutions that endure
We had the privilege of hosting Marico Chairman Mr. Harsh Mariwala at Singularity Summit 2025 earlier this year, where he spoke about the entrepreneurial mindset that has shaped one of India’s most enduring consumer brands. Mr. Mariwala has spent decades shaping Marico into one of India’s most respected consumer companies with brands like Parachute and Saffola trusted by millions of households. From a family-run commodity business to a global FMCG player, his story has redefined what Indian founders can build.
For him, grit is the real differentiator. Entrepreneurs will face endless setbacks, but the instinct must always be to push, to find another path. Watch the session here:
“As an entrepreneur, you never take no.”
Growth, Mr. Mariwala says, is the oxygen of a company. It keeps employees challenged, partners energised and customers excited. And the belief in growth must start at the top. Marico’s early journey focused relentlessly on gaining market share. But once leadership was secured, a shift had to follow: expanding the market itself. From changing traditional consumer habits to introducing new usage routines like “one hour champi before shampooing”, the company focused on category conversion rather than competing on price.
“Once market share is high, the challenge is to increase market size.”
A key strategy was avoiding battles where Marico could not lead. They chose categories in which they could achieve scale, pricing power and margin strength. Today, nearly 95% of their portfolio sits in categories where they are the market leader.
International expansion brought another growth engine. It moved from a part-time assignment to a fully accountable business once Marico hired a dedicated leader with zero domestic responsibilities. That clarity helped the company build strong positions across the Middle East, Egypt, Bangladesh, South Africa and Vietnam. These global pieces now contribute close to a third of revenues and offer a training ground for future P&L leaders.
Across the conversation, one theme is constant: build foundations that last. FMCG, he believes, is a defensive sector that can sustain over decades if guided by the right governance, strategy and culture. Boards must spend less time in the weeds and more time ensuring exceptional leadership at the helm.
3 Lessons for Founders
• Growth is a mindset. If leaders signal it, organisations respond.
• Become market leader or don’t enter. Leadership creates pricing power and resilience.
• When share maxes out, expand the category. Change behaviour, not just products.
In his fireside chat with Mr. Mithun Sacheti, he opens up about his own role today. After stepping back from daily operations, he didn’t want idle time or passive philanthropy. Instead Mr. Mariwala embraced what he calls active giving - contributing time, knowledge and energy to causes he believes in.
Through Ascent Foundation, he helps entrepreneurs learn from each other in a trusted peer community. Through the Marico Innovation Foundation, he backs ideas that push India’s innovation frontier. And through their mental health work, he supports critical access in smaller towns and underserved communities.
“I cannot do the art of doing nothing. I need to be involved and passionate about what I support.”
Purpose, he believes, must evolve with the entrepreneur - but the drive never switches off.
It’s a conversation packed with grounded wisdom, category-building lessons and a rare look at the mindset behind scaling ideas into institutions. For anyone building or backing brands in India, this conversation stays with you long after it ends.