The chairman and managing director of Pune based Survarna Group of Companies, P I Varghese died at the age of 74, suffering from a brief illness. The founder of Suvarna Fibrotech, Varghese has made a mark as one of the most successful entrepreneurs in the Bhosari MIDC area of Pune. The company founded over 30 years ago now is a multinational with branches in both India and abroad.
The company has been an extremely successful small business which ran several humanitarian projects and worked to uplift the marginalized sections of the Pimpri-Chinchwad and Pune city area by creating job opportunities and helping them upskill for employment. As reported by The Indian Express, Varghese had recently said at a press conference that even during the financial crisis and recession period in 2008, the company did not fire any employee, it also did not introduce any pay cuts.
The company apart from running many charities has also won national accolades for innovation in entrepreneurship. It rose to public importance following the ravaging tsunami in 2004 when it produced floating homes for those who had their houses destroyed in the aftermath of the natural disaster. The organization has also given several loans to the underprivileged for them to build houses in the Pimpri-Chinchwad area.
Varghese, who is survived by his wife, son and daughter had been given a lifetime achievement award by the Kerala government in recognition of his charitable work.