Career
He hails from Bhilwara town in Rajasthan. He established Modern Wollens in 1973, the first enterprise with many others to follow. His group include the companies as Modern Threads, Modern Insulators, Modern Syntex, Modern Suitings, Modern Petrofill, Modern Petrochemicals and Modern Denim.
Ranka completed his commerce graduation from Rajasthan university in 1959.
Ranka was awarded "Udyog Patra" in 1978 for being a self made industrialist and shielded by The Rajasthan Financial Corporation (Reconstruction Finance Corporation) in 1980 for his contribution towards the industrialisation of Rajasthan.