“Marwari” stands for people hailing from a region in western India known as Marwar. In common parlance, the term refers to merchants and bankers from this region speaking the language spoken there and living elsewhere. Marwaris left this region and resettled in other parts of India and abroad from at least the eighteenth century. The article explores the Marwari diaspora. Although many Marwaris engaged in trade, banking, and occasionally manufacture, the group was socially and occupationally diverse. After liberalization of the Indian economy in the 1990s, some Marwari individuals have made successful use of new investment opportunities from a business base that had been created before the economy opened up, but, overall, the group has experienced the same pattern of “creative destruction” as have other business communities. In small towns, Marwaris have almost seamlessly assimilated with local society. In big business, the companies they own define the character of the business more than ethnic identity.