What do the names Tata, Wadia, Godrej, and Poonawalla have in common? Apart from being prominent business names in India, they all belong to the Parsi community. Despite being only 0.06% of India’s population, Parsis account for four of the Top 20 richest people in the country, making them arguably India’s wealthiest and most successful community.

The Parsis, meaning “coming from Persia,” are descendants of Persians who migrated to India between the 8th and 10th centuries AD, aiming to preserve their religious identity during the Arab conquest of Iran. They follow Zoroastrianism, the oldest monotheistic religion. According to the Parsi epic Qissa-e-Sanjan, they first settled in Sanjan, Gujarat, establishing the Fire Temple, a sacred place of worship even today.

The wealth journey of Parsis began during the British era. Leveraging trade opportunities with the East India Company, many Parsis moved to English settlements in Surat and later Bombay, forming connections with the British that local communities could not.

The opium trade brought enormous profits to families like Jamsetjee Jeejeebhoy, India’s richest man at the time. When opium trade declined, they shifted to textiles and other industries. Their accumulated wealth allowed them to educate their children in elite English schools, giving them an edge in commerce, literacy, and societal influence.

Historically, Parsis have also been philanthropic, embodying a principle of capitalism with social responsibility. They contributed to India’s first steel mill, first commercial airline, first luxury hotel, and first stock exchange, shaping the nation’s development.

However, the Parsi population is declining. With a male-lineage cultural norm, a high death-to-birth ratio of 4:1, and an extremely low fertility rate of 0.8%, the community faces potential extinction. To address this, the Jiyo Parsi scheme (2013) provides awareness workshops, childcare support, and financial assistance for infertility treatment, aiming to preserve this unique community.

The Parsis’ story is one of resilience, entrepreneurship, and philanthropy, reflecting a community that, despite its tiny numbers, has left an outsized mark on India.