Why Gujaratis Earn More and Succeed Faster in Business?

Abhijit Choksey, the founder of Stockify, recently shared an analysis on the social media platform X, highlighting the factors behind Gujaratis' dominance in business and finance. His post went viral as he explained their economic strength and wealth-creation abilities.

Choksey pointed out that out of India's 191 billionaires, 108 are Gujaratis. He also noted that Gujaratis living in the United States earn three times more than the average American. Despite making up only 5% of India's population, Gujaratis contribute over 8% to the country's GDP and account for 18% of its industrial production. Remarkably, Gujarat, which covers just 6% of India's land area, contributes 25% to the nation's total exports.

Choksey attributed Gujaratis' success in business to generational knowledge, an entrepreneurial mindset, and a willingness to embrace new markets. He noted that Gujaratis prioritize business over jobs, with the common belief in their families being that "jobs are for the poor." Children in Gujarati families learn money management, contracts, and risk assessment from an early age.

Risk-taking is another defining trait of Gujaratis. Whether in the diamond trade or stock markets, they embrace uncertainty and seize opportunities. Their practical financial education starts early as they assist in family businesses. Additionally, Gujaratis support each other by sharing loans, guidance, and market insights.

Choksey detailed how Gujaratis have established dominance across various industries. He noted that 90% of the world’s diamonds are processed in Surat, with Gujarati entrepreneurs surpassing competitors from Belgium and Israel. In India’s stock market trading community, over 60% are Gujaratis or Marwaris. In the U.S., over 60% of hotels are owned by Gujarati families, primarily from the Patel community.

Gujaratis treat losses as learning experiences, which helps them emerge stronger. Their financial discipline—earning, saving, and reinvesting profits—plays a key role in their sustained success. From traditional businesses to modern tech startups, Gujaratis continuously adapt to changing times to grow their enterprises.