Takhar was born to a Sikh family in the Indian state of Punjab, with a background in farming and civil service work.

Takhar held senior financial positions with AGRA Industries Limited, Linear Technology Inc./Gennum Corporation, and Timex Canada Inc.

In addition, he also served as the president and chief executive officer of the Chalmers Group of Companies until his election to the Ontario legislature.

In September 2008, Takhar was reappointed to a slightly revised cabinet post of Minister of Small Business and Consumer Services.

Takhar ran a very focused campaign, put forward very innovative policies, and surprised everyone with the number of delegates he could secure to support his leadership bid.

Takhar frequently appears on radio programs to express his views regarding political and economic issues and is a highly respected member of the South Asian community.