The family business started with the establishment of a cloth shop by Bhajuratna Kansakar. He also produced copper items and started exporting household utensils to Tibet from Kalimpong in 1921. As trade started to thrive, Bhajuratna also gradually became popular in Tibet getting the nickname ‘Syamukapu’ (meaning white hat in Tibetan). After the political changes in Tibet, he stopped trading there.
In the 1940s, Bhajuratna moved to Calcutta and tried his hand at iron mining. The Kansakar’s business quest in India ended in the 1960s when he moved back to Nepal. In 1961, his son Maniharsha Kansakar established Himal Iron and Steel, Nepal’s first iron and steel factory laying the foundations of the Jyoti Group. From the 1960s, the firm moved into the production of cement, textile (spinning mills and yarn processing plants), steel and wires and gas and medicines and delivery of services such as engineering, import-export, logistic solutions, tourism and health care. The group has maintained a strong presence in the two-wheeler industry ever since it established the Syakar Company in 1976 which became the authorised distributor for Honda and later Hero Honda two-wheelers in 1986. Currently, Syakar serves as the authorised distributor and retailer of Honda two and four-wheelers and Philips home appliances while another subsidiary, Nepal General Marketing, serves as the exclusive authorised distributor of Hero bikes. Apart from service, trading and manufacturing, the group is a business promoter at Sagarmatha Insurance Company and Grande International Hospital.
- Himal Agriculture Firm is a collaboration between MaHa Agriculture and Jyoti Group
- The estimated annual turnover of the group is USD 150 million
- 3,000 people