Walton Group of Industries was founded by S.M Nurul Alam Rezvi in 1977 as a trading company. Over the next three decades the group diversified into steel, textiles, electronics and automobiles. Walton entered into the steel industry in late 1970s and the electronics and automobiles in early 2000s; these areas would drive its subsequent growth. Since the 2000s Walton has expanded towards electronics and automobiles and these became its most important sources of income.
Walton is one of the highest taxpayers in Bangladesh and has a strong impact on the country's economy. Walton has received the Best Taxpayer Award at the just-concluded Dhaka International Trade Fair (DITF) 2015 for the seventh time. It was awarded for its export revenues. Walton received awards at the 2013 Dhaka International Trade Fair (DITF), including one for paying the most taxes.