Indian-origin industrialist Vikas Rambal has been ranked 31st on the 2025 Australian Financial Review Rich List, with a net worth of $4.98 billion, marking a significant milestone in his decades-long journey from migrant to billionaire. But for Rambal, the ranking is just a number — his true ambition, he says, is to create wealth for others.
“Wealth isn’t my primary focus; it’s growth that drives me. If I can create more millionaires, I’ll become a billionaire by default,” said Rambal, who is the Founder, Managing Director, and Chair of Perdaman Group.
Rambal migrated from India to Australia in 2000. His first years in the country were marked by scepticism and cultural disconnect. He recalls being asked an unsettling question at an investment meeting: “How many cars does India have?” The remark wasn’t just dismissive; it was defining.
“That question struck me deeply. It made me realise how invisible Indians were in Australia’s business circles,” Rambal said. “That’s when I made it my mission to establish a presence that goes beyond personal success.”
Today, he is at the helm of one of Australia’s largest industrial projects, a $6 billion fertiliser plant on Western Australia’s Burrup Peninsula. The plant will convert natural gas from Woodside’s Scarborough Gas Project into 2.3 million tonnes of urea annually, aimed at boosting both domestic supply and international exports.
While his initial plans in Australia revolved around building a solar farm, Rambal soon shifted focus to manufacturing — a sector he believes is essential for the country’s future.
"Australia has enormous potential in manufacturing. It’s not just about building factories; it’s about building capability and long-term economic strength,” he said.
Rambal's journey, however, has not been without hurdles. In his early days, he struggled to gain trust from financial institutions. “Some lenders even flew to India to verify my background before supporting my business proposals,” he said.
Unlike many Indian-origin entrepreneurs who acquired existing ventures, Rambal prides himself on building businesses from the ground up. “We didn’t buy success. We built it — project by project, from scratch,” he said.
Now, he’s focused on creating a broader impact — mentoring, investing in young talent, and empowering others to rise. “Our community lacks a unified identity here. I want to build that by helping others become job creators and wealth builders,” he added.
For Rambal, this billionaire tag is less of an endpoint and more of a beginning. “This is just the start. My ranking doesn’t matter as much as the number of lives I can help transform,” he said.