Early Life and Education
Harindarpal Singh Banga, known as Harry Banga, was born in Amritsar, India, and raised in Chandigarh. He received his education at the 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.
Rise to Success
Banga's career began in the maritime industry. He later transitioned into the commodities business. Prior to forming Caravel, he was Vice-Chairman of Noble Group Limited. He joined the Gulf Group in Hong Kong in 1979 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. He stepped down as Vice-Chairman of Noble Group Ltd in 2010 but remained on the Board as Vice-Chairman Emeritus. In 2011, he purchased the Noble Group’s ship management arm, Fleet Management Limited. Banga severed his ties with Noble in 2012.
Key Business Strategies
In 2013, Banga founded The Caravel Group Limited, a diversified global conglomerate with three main lines of business: Asset Management, Caravel International (Commodities), and Caravel Maritime. He has been instrumental in the development of export markets for Indian raw materials and has helped drive India’s economic development through the provision of long-term supplies of key commodities. Banga also invested in the Indian online beauty retailer Nykaa.
Philanthropy
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).
