Indian billionaire Gautam Singhania announces separation from wife after 32 Years

Indian industrialist Gautam Singhania, chairman and Managing Director of Raymond Ltd, announced separation from his wife of 32 years Nawaz Modi.

They were married in 1999. Singhania, 58, didn't disclose details about the separation or the custody of their two children. In a social media post, he said: "This Diwali is not going to be the same as many in the past."

"It is my belief that Nawaz and I will pursue different paths from here on," Singhania wrote on Instagram.

He married Nawaz when she was 29-years old after eight years of courtship, according to Indian media reports.

"32 years of being together as a couple, growing as parents and always being a strength of each other... we traversed with commitment, resolve, faith as along came the two most beautiful additions in our lives," the Industrailist said.

“As I reflect over the unfortunate developments in the recent past, there has been a lot of unsubstantiated rumour mongering, and gossip surrounding our lives fanned by 'not so well wishers'," he wrote.

"I am parting ways with her while we continue to do what is the best for our two precious diamonds Niharika and Nisa," he said asking people to respect their privacy and personal decisions.

"Please respect this personal decision and kindly give us the space to settle all aspects of the relationship. Seeking your best wishes for the entire family during these times," he added.

Minutes before the announcement, Singhania shared news about his group's real estate arm expanding in the financial capital of India, Mumbai.