Rajendra Meghji Ved
Director
Lakhoo’s Exchange | Muscat, Oman
Janam Bhumi:
Gondal, Gujarat, India
Dharma Bhumi:
Gujarat, India
Karma Bhumi:
Muscat, Sultanate of Oman
Dealing Currency of Connection & Values
The ‘Rajendra’ Factor: “Business gives you resources, but service gives you purpose.”
THE MAN
When Rajendra Meghji Ved’s grandfather, Laxmidas Tharia Ved, arrived on the shores of the Sultanate of Oman in 1904, he opened a small grocery shop with a borrowed capital of ₹200. That modest sum fuelled a flourishing business that has, among other things, become an essential ‘lifeline’ for expatriates. Born in a small village called Gondal in Gujarat, Rajendra, fondly called Raju Bhai, studied in Oman up to Grade 4 in a Gujarati-medium school.
He then moved to Bombay (Mumbai) for further education. Raised in a family that valued education and hard work, he pursued a degree in Commerce, returning to Muscat in 1976 to join the family business and never looked back.
When he returned to the Sultanate, the country was witnessing the blessed renaissance under the leadership of His Majesty the Late Sultan Qaboos Bin Said. “Being part of this era was incredibly inspiring. The country’s rapid development shaped my entrepreneurial spirit,” he recalls. This environment also catalysed the evolution of Lakhoo’s Group into a multi-faceted empire, now in its fourth generation of leadership.
THE JOURNEY
Raju Bhai’s elder brothers, Navel and Ranjit, were already entrenched in the family business when he joined, followed by the youngest sibling, Satish.
Today, Lakhoo’s Group of Companies spans an 18-branch money exchange network across Oman and the neighbouring UAE, apart from trading, textiles, readymade garments. and school uniforms. Raju Bhai, who is the Director of Lakhoo’s Exchange, credits his grandfather and father for laying the foundations. “We just built upon it,” he says with humility.
The journey has not been without its challenges. From navigating financial losses to expanding the business in new directions, they emerged stronger because of the family unity that exists. “Living in a joint family was our strength. We shared responsibilities, supported each other through challenges like financial losses and the pandemic,” he says as he reflects on the image he has built as a well-respected businessman over the years.
THE SPIRIT WITHIN
A businessman who sees the market fluctuating everyday understands the importance of a steady moral compass and adherence to faith. Raju Bhai is an active member in managing Hindu temples in Muscat and has supported their transformation as community centres that have become platforms for charity drives, crisis support, and intergenerational dialogues.
As part of the vibrant Muscat Gujarati Samaj, Raju Bhai has played a pivotal role in organising festivals such as Navratri and Diwali, where generations could connect through language, dance, and shared traditions.
Spirituality and service go hand-in-hand for Raju Bhai who is as dedicated to uplifting communities and fostering education as he is to preserving Indian culture in Oman. Raju Bhai has become a champion for the Indian expatriate community, mobilising Oman’s merchant community to contribute to social causes. As Treasurer of the Bania Merchants Community (BMC), he directed its resources toward scholarships for underprivileged students, emergency aid for migrant workers—particularly during the pandemic—and funding for community kitchens.
He had an active role as Executive Director of the Indian School Wadi Kabir and its Cambridge International wing, spearheading initiatives that bridged Indian and global curricula.
THE LEGACY
Having worked for decades, Raju Bhai now mostly focuses on spending quality time with his wife, Heena. She has been the family’s anchor, raising their children — two daughters, Jeshika and Sneha, and one son, Dharmin — while Raju Bhai worked to build the business. Their daughter Jeshika resides in Delhi, India with her husband Nirmit, Vice President at Exim Bank, and their two children, Dheesh and Dhwani. Their son Dharmin serves as the CEO of LM Exchange, overseeing the group’s UAE operations from Dubai, where he lives with his wife Seema and their children, Kian and Nysha. The couple’s other daughter, Sneha, is an integral part of the textiles and uniform business in Oman and lives with her husband Vikram, a businessman, and their son, Shaurya.
But, when you are part of a century-old institution, your legacy is more than just that. It is also a huge responsibility to keep steering it forward and preparing the next generation to take over. Raju Bhai has gracefully passed on the baton to the fourth generation, but he continues to mentor them. “Now it’s their turn,” he says, echoing the family’s collaborative ethos. “I tell them, ‘Expand if you wish, but remember our values’.”
These values are also inherited. Raju Bhai’s grandfather passed it on to their father, and he to them. Generations have evolved, but the philosophy remains the same. “Work hard, don’t take shortcuts. Keep learning.”
“Most importantly,” says Raju Bhai, “Never forget that true success is not just in wealth, but in the lives you touch.”
MAPPING THE INDIA WITHIN
Bharat: Then and Now
“I remember India’s slow pace. We travelled by train. Pollution and chaos was just part of life. Oman was a stark contrast with its clean and quiet environment. Now, when I visit India, I see big changes — cleanliness, better connectivity, be it in transport or communication. The IT industry is booming. Money transfers that once took drafts and weeks now happen online in minutes. I think India is number one in technology today.”
Bharatiya Values that Travelled
“I have been Omani by nationality for 25 years, but my ‘Dil is Hindustani’ (heart is Indian). We follow all religious rituals in the house, and worship Krishna and Ganapati. I’ve been involved with schools and temples here in Oman all my life. Indian spirituality and culture are part of daily living for us.”
Generations Abroad: A New Bharatiya Identity
“My children and grandchildren are Omani, but they follow Indian rituals. They have been taught to respect elders, be kind and honest. They have seen their parents visit temples and be part of festivals, so they also follow the same. There has been no compulsion on our part.”
Pride, Progress, and the Spirit Of Bharat
“I really appreciate what our Prime Minister Shri Narendra Modi has done. India has seen phenomenal progress in technology, infrastructure, and global standing. We have not only become a modern nation but also a nation that lives by its culture and upholds its values. That is the true essence of what India is all about.”
Dreams for the Youth and Future of Bharat
“My advice to youth is to work hard and, if possible, start their ventures in India. Today, even skilled workers prefer to stay in India because salaries are better, and opportunities are growing. Follow your values, and no matter where life takes you, keep Bharat in your heart. “There is no doubt that India is destined for greatness. I dream of it being the world’s largest economy, especially if world-class education were to be made accessible to every deserving student, irrespective of where they come from.”
BACK TO THE FUTURE – IN FIVE MOMENTS
Food Cravings
THEN
I savoured homemade traditional Gujarati dishes.
NOW
On Fridays, my wife and I dine out, enjoying snacks like ‘bhel puri’ and ‘sev puri’ at restaurants.
Sport Spirit
THEN
I occasionally played cricket with friends during my younger days.
NOW
I take pleasure in watching live cricket matches, both on TV and at stadiums.
Music Tastes
THEN
I was fond of Bollywood songs from the early era.
NOW
I still unwind by listening to those old soulful melodies.
Holiday Life
THEN
I have been privileged to have seen every corner of Oman and have travelled extensively across India and Europe with my family.
NOW
Due to my wife’s health, our travels are limited to Mumbai and occasional pilgrimages.
Leisure Habits
THEN
We used to enjoy picnics and outings with close friends in Oman and India.
NOW
As I grow older, I find joy in community work, especially in temples and schools.
AKA
Rajendra Meghji Ved Director | Rajendra Ved Director Lakhoo’s Exchange | Director Lakhoo’s Exchange Oman | Financial Services Executive Rajendra Ved
