Harindarpal Banga

$2.74 B

Ranked #1499 in World

About Harindarpal Banga

Harindarpal Singh Banga, an Indian business magnate and benefactor, heads The Caravel Group Limited, a global entity with a $2.8 billion net worth as of 2022, per Forbes, ranking as the 1,196th world's wealthiest. A maritime academy alumni and former merchant vessel commander by 27, Banga pioneered in the benevolent and trading sectors, significantly impacting Noble Group Limited’s ascendancy before inaugurating The Caravel Group in 2013. His contributions extend to philanthropy, notably in global education and maritime excellence.

Born

August 10, 1950

Age

75 years

Source Of Wealth

Commodities

Industries

Finance & Investments

Citizenship

India

Residence

Hong Kong

Spouse

Indra Banga

Children

Guneet BangaAngad Banga

Harindarpal Singh Banga, popularly known as Harry Banga, was born in Amritsar, India, and raised in Chandigarh. He received his education at Training Ship Dufferin, India's oldest maritime academy, where he earned his Master Mariner certification in 1976. By the age of 27, he had already commanded merchant vessels.

Harindarpal Banga: Family

Harry Banga is married to Indra Banga, and together they have two sons, Angad and Guneet. Both sons are involved in the family business, The Caravel Group Limited.

Harindarpal Banga: Career Highlights

Harry Banga's career began in the maritime industry, but he later moved into the commodities business. He held the position of Vice-Chairman of Noble Group Limited, a global commodities trading business. In 1979, he joined Gulf Group in Hong Kong as Operations Manager and became an early partner in Noble Group Limited in 1989. He played a crucial role in establishing and leading Noble Chartering Limited and served as Vice-Chairman of Noble Group after its Hong Kong listing in 1994. Banga is widely recognized as the driving force behind Noble's success.

In 2010, he stepped down as Vice-Chairman but remained on the Board as Vice-Chairman Emeritus. In 2011, he purchased Noble Group's ship management arm, Fleet Management Limited, and in 2012, he severed ties with Noble.

Harindarpal Banga: Companies

Harry Banga is the founder, Chairman, and CEO of The Caravel Group Limited, a global conglomerate with three main lines of business: Caravel Maritime, Caravel Resources, and Caravel Asset Management.

Caravel Maritime: Includes Fleet Management Limited and offers ship management, dry bulk commercial and chartering services, maritime asset ownership, and other maritime investments.
Caravel Resources: Focuses on trading industrial dry bulk commodities, particularly raw materials for steel making and power generation.
Caravel Asset Management: Engages in direct investments in global liquid asset classes and alternative investments.

Harindarpal Banga: Major Achievements

Harry Banga is credited with driving the success of Noble Group Limited and transforming it into a global commodities trading powerhouse.

He is also recognized for establishing The Caravel Group Limited and diversifying its operations into multiple industries.

Harindarpal Banga: Awards & Achievements

Pravasi Bharatiya Samman Award in 2011 (highest distinction for overseas Indians).
NMD Award of Excellence in 2018 from National Maritime Day Celebrations Committee and Directorate General of Shipping, India.
Honorary Fellow of City University of Hong Kong in 2018.
Honorary Doctor in Business Administration from City University of Hong Kong in 2020.
Named "Most Influential Business Leader of Asia" by The Economic Times in 2019.

Harindarpal Banga: Personal Life & Legacy

Harry Banga is known for his philanthropic endeavors through The Caravel Foundation Limited. He and his wife, Indra Banga, have established scholarships for students at Dartmouth College, Duke University, and Princeton University. They also maintain a close partnership with City University of Hong Kong (CityU), where the Indra & Harry Banga Gallery is named in their honor.

Harindarpal Banga: Trivia

Harry Banga is a Fellow of The Institute of Chartered Shipbrokers.
He served as a former member of the Executive Committee of the Hong Kong Shipowners Association.
He is a member of the Court of City University of Hong Kong.

Wealth History

Timeline

N/A

Harindarpal Singh Banga (Harry Banga) was born in Amritsar, India, and raised in Chandigarh.

N/A

Banga received his education at Training Ship Dufferin, India's oldest maritime academy.

1976

Banga earned his Master Mariner certification.

N/A

By the age of 27, Banga was commanding merchant vessels.

1979

Banga joined Gulf Group in Hong Kong as Operations Manager.

1989

Banga became an early partner in Noble Group Limited.

N/A

Banga helped establish and lead Noble Chartering Limited.

1994

Banga served as Vice-Chairman of Noble Group after its Hong Kong listing.

2010

Banga stepped down as Vice-Chairman of Noble Group but remained on the Board as Vice-Chairman Emeritus.

2011

Banga purchased Noble Group's ship management arm, Fleet Management Limited.

2012

Banga severed ties with Noble Group.

2013

Banga founded The Caravel Group Limited with his sons Angad and Guneet.

2011

Banga received the Pravasi Bharatiya Samman Award, the highest distinction for overseas Indians.

2018

Banga received the NMD Award of Excellence from the National Maritime Day Celebrations Committee and Directorate General of Shipping, India.

2018

Banga was named an Honorary Fellow of City University of Hong Kong.

2019

Banga was named "Most Influential Business Leader of Asia" by The Economic Times.

2020

Banga received an Honorary Doctor in Business Administration from City University of Hong Kong.

Harindarpal Banga : FAQs

What is Harindarpal Banga's current net worth?

Harindarpal Banga's current net worth is $2.74 billion.

What is Harindarpal Banga's current global rank among billionaires?

Harindarpal Banga holds the 1499th position globally among billionaires.

What is Harindarpal Banga's current ranking within the India?

Harindarpal Banga holds the 87th position in India.

What was the change in Harindarpal Banga's net worth compared to the previous year?

Harindarpal Banga's net worth decreased by 350.51 million dollars compared to the previous year 2025, when his net worth was 3.09 billion dollars.

What are Harindarpal Banga's main sources of wealth?

Harindarpal Banga's main source of income comes from Commodities.

In which industry does Harindarpal Banga primarily operate?

Harindarpal Banga is primarily involved in the Finance & Investments industry.

How old is Harindarpal Banga?

Harindarpal Banga is 75 years old.

How many children does Harindarpal Banga have?

Harindarpal Banga has 2 children.

What is Harry Banga's background in maritime industry?

Harry Banga began his career in the maritime industry after earning his Master Mariner certification in 1976. By age 27, he had commanded merchant vessels. He went on to become Vice-Chairman of Noble Group Limited and later founded The Caravel Group which includes Caravel Maritime.

What are the main businesses under The Caravel Group?

The Caravel Group is a diversified global conglomerate with three main business lines: Caravel Maritime (ship management and related services), Caravel Resources (trading of dry bulk commodities), and Caravel Asset Management (direct investments in various asset classes).

How has Harry Banga contributed to philanthropy and education?

Harry Banga is known for his philanthropic efforts through The Caravel Foundation Limited, which awards scholarships to students at several universities, including Dartmouth, Duke, and Princeton. He has also established a close partnership with City University of Hong Kong, where the Indra & Harry Banga Gallery is named in honor of him and his wife.

What honors and awards has Harry Banga received?

Harry Banga has received several honors, including the Pravasi Bharatiya Samman Award in 2011, NMD Award of Excellence in 2018, and he was named an Honorary Fellow and received an Honorary Doctorate in Business Administration from City University of Hong Kong. He was also named 'Most Influential Business Leader of Asia' by The Economic Times in 2019.