The origin of the name "Oswal" is tied to a small village in the Jodhpur District of Indian State of Rajasthan called Osianor Ossiya.There was once a large city at the site of Ossiya (osian). The ancient names by which this city was known at various times were Uplesh Pattan, Urkesh, Melpur Pattan and Navmeri. Upkeshpattan is said to beanalogous to such a town situated about 32 miles northwest of Jodhpur in the state of Rajasthan. It was the home to a Jain monastic order called Upakesh Gachchha [2](which is now extinct) belonging to the Svetambara Jain tradition.      

 
According to an Upakesh-gachchha-charitra composed by Kakkasuri of Upakesh Gachchha in vikram 1393 [3] (but some say it was written in 17th century), Jain Acharya) Shree Ratna Prabhu Suriji the 7th Acharya in the line of Jain tirthankar Parshvanatha's sect, came here in 457B.C. with his five hundred disciples in year 70 after Mahavira'sNirvana(457 B.C.). However other scholars do not agree to this.

 
King Upaldev and his very able minister Uhad ruled the city at that time. After receiving proper guidance from Acharya, the King, his ministers, and more than one thousand Rajput soldiers gave up alcohol and meat and adopted Jainism. The Acharya gave this group the name Oshwals or Oswals. Thus, a new Jain corps called the Oswal Gaccha, the ancestors of the Oswal community, came into existence.