Driving regional growth with global ambitions
The founders of export manufacturing company Linit exemplify India’s thriving culture of entrepreneurship.
Beneath India’s economic success lies a deep-rooted culture of entrepreneurship, flourishing since the country’s economic liberalisation in the 1990s.
This enterprising spirit is clearly demonstrated by our clients Lily and Nitin Karjatkar.
They founded Linit Exports Private Limited – a 100 per cent export focused manufacturing company – in 1998, experimenting with different business ideas before finding their niche in engineering components in 2001.
“The manufacturing industry was growing really fast”, explains Nitin. “There were just so many opportunities.”
Today, Linit is one of over 63 million Indian micro-, small- and medium-sized businesses, over 85 per cent of which are family-owned.
Based in Mumbai, Linit has also expanded into smaller cities like Rajkot and Nashik, contributing to India’s rapid growth in regional markets.
“India’s regional growth is far exceeding growth in the big metros right now”, explains Nitin Chengappa, Standard Chartered’s Managing Director and Head, Affluent Banking and Distribution Network, India.
“Tier two and three markets are growing at almost 20-30 per cent, so we’re significantly boosting our investments to support clients like Lily and Nitin in these locations.”
For Linit, reinvesting profits to create local jobs and expand capacity has been a focus since the very beginning.
“Because we’re a family-run business, our goal isn’t just to make money”, says Lily, “It’s to ensure the business keeps growing. We have complete freedom to make our own decisions.”
Since partnering with us in 2020, Lily and Nitin have drawn on our services to expand their operations and navigate regulatory complexities. In 2024, Linit generated over USD20 million in revenue.
“India’s always been a very free and colourful country”, reflects Lily. “We always look at things from multiple angles and go after every opportunity. Right now, we’re shining at our brightest.”