In 1975, as head of Modi Rubber, Dr M sealed the first Indo-International technical collaboration in the tyre industry with Continental (Germany). Modi Rubber set up the first world-class tyre Manufacturing facility in the country.
In 1981, Dr M laid the foundation for his Business empire by setting up Graphics India which became the sole distributor of Rank Xerox copiers in India. In 1983, he formed Modi Xerox as a joint-venture with Xerox. Modi Xerox became the first Indian manufacturer of high-end laser copier. Then in 1987, he formed a joint-venture with Olivetti (Italy), Modi Olivetti. This became the first Indian joint venture to manufacture advanced PCs and floppy disks.
In 1993, Modi Telstra became the first company to launch cellular services in India. They also received the first Telecom Engineering Commission Certification of Quality.
In 1994, Dr M entered into a joint-venture with International Paper, Plus Paper FoodPac, which pioneered the manufacture of eco-friendly paper containers for the foodservice industry.
1995 was a ground-breaking year for the Indian Telecom industry. The first ever mobile call was placed on the Modi Telstra network by the then Chief Minister of Kolkata, Jyoti Basu. Then Dr M formed Axiata Spice Communications, a joint-venture with Axiata Group Network. This went on to become the leading Telecom operator in Northern and Southern India.
Then in 2000, Cellebrum (now Spice Digital) was established by Dr M as the first Indian mobile value added services company for Telecom operators. In 2004, he founded Spice Hotspot (now Spice Retail) which was the first Indian mobile Retail chain. In 2009, he formed Si2i, a listed company in the SGX, by acquiring a major stake in the i2i. The company offers Operator products and services and ICT & Managed services.
To contribute towards the development of clean Energy sources, in 2015 Dr M launched Moditiciti. Situated just a few hours away from New Delhi, Modiciti is a private smart city in making which includes an electric vehicle Manufacturing unit and the presence of brands like Modiciti Solar Lamp, Modiciti Hospital, Modiciti IB School and Modiciti Multiplex.
In 2016, Forbes estimated Dr M's net worth at US $645 million.