World Zarathushti Chamber of Commerce marks 25 years with push for youth entrepreneurship

MUMBAI: Until two or three generations ago, the Parsi–Irani community produced merchants, traders, businesspersons, industrialists, wealthy brokers and visionaries.

However, this entrepreneurial spirit has declined over the past few decades, as more members of the community opted for stable 9-to-5 jobs in banks or other salaried roles.


In a bid to revive entrepreneurship among the youth, the World Zarathushti Chamber of Commerce (WZCC) is marking the completion of 25 years with a three-day convention in Mumbai from January 8 to 10.

Business leaders and industrialists, including Cyrus Poonawalla, chairman of the Serum Institute, Rasna chairman Piruz Khambatta, and Burjis Godrej, executive director of Godrej Agrovet, are scheduled to address the community’s youth.

Zerick Dastur, India Region President of WZCC, said, “25 years ago, WZCC started as a flicker of an idea with limited resources. Today, WZCC has been shaped not just as a chamber of commerce but as an institution based on a set of principles. The values of industry with integrity are embodied in the very fabric of the institution. Over the years, we have increased our membership base, consolidated our entrepreneur support programmes, launched new initiatives like the internship programme and the law committee, and also focused on youth involvement and participation.”

WZCC has active chapters across India, the United States, Canada, the Middle East, Iran, the United Kingdom and Australia. In India, it operates through three active chapters — Mumbai, Pune and Bengaluru.

“WZCC now gives ₹25 lakh as interest-free finance for start-up funds to young Zoroastrian entrepreneurs and professionals in India under the Minoo Shroff Memorial Fund (MSMF), and USD 50,000 overseas under the Zoroastrian Entrepreneurial Development Foundation (ZEDF). Sufficient corpus has been created to service this initiative,” said Captain Percy Master, global president of WZCC.

“Finances have been given to 32 young entrepreneurs globally to start their businesses, and all have been very successful in their endeavours. Education scholarships are also given under this scheme,” he added.

Master said the community has produced entrepreneurs, professionals and philanthropists over the years and has made India and the world proud.

“Recently, we have started promoting Iranian youth who require an opportunity to blend with our community globally and start their own businesses in Iran, where they are living,” he said.

WZCC also has seven chapters across North America. In 2020, it partnered with the Federation of Zoroastrian Associations of North America to establish the Zoroastrian Entrepreneurship Development Foundation (ZEDF), which provides interest-free loans to entrepreneurs in the United States, Canada and the United Kingdom.

“USD 50,000 loans are given and paid back over four years, interest-free. Business owners also receive regular mentorship from industry experts. Over the last five years, we have funded 11 businesses. ZEDF also offers scholarships of up to USD 30,000 every year to students pursuing entrepreneurship studies at the graduate level in North America,” said Arzan Sam Wadia, director on the WZCC international board.