Walchand group came into existence in the 20th century founded by industrialist Walchand Hirachand Doshi.
Walchand Hirachand founded several companies, some of which were among the firsts in India in their fields.
Walchand Hirachand was assisted by his brothers, when they grew up. As Walchand died without any direct male descendants, the group was divided amongst sons of his brothers Gulabchand Hirachand, Lalchand Hirachand & Ratanchand Hirachand, who operated together till they were alive. The group, however, in general is referred to as Walchand group in media.
Walchand group is now largely bifurcated between two factions - one headed by Ajit Gulabchand son of Gulabchand Hirachand and other faction by sons of Lalchand and Ratanchand.