Meet man, born in a Mumbai chawl, quit school at 15, built Rs 1010000000000 company; his business is..., net worth is Rs...
Building a successful business from scratch while battling crushing poverty is undoubtedly a cumbersome task which only a handful of people can boast to have accomplished in India. One such shining example is the inspiring story of Inder Jaisinghani, the Chairman and Managing Director (MD) of Polycab India Limited, who was born in a humble Mumbai Chawl , spent his childhood in utter poverty, yet through sheer hard work and dedication, turned a small shop in a major business empire which is currently valued at a whopping Rs 101 , 000 crore. Who is Inder Jaisinghani?
Born in a low-income household in Mumbai's Lohar Chawl, Inder Jaisinghani spent most of his childhood battling crippling poverty and things got worse after the death of his father, which forced him to drop out of school at the age of 15, and shoulder the burden of the family's responsibilities at a tender age.
However, unfazed by the overwhelming odds, Inder Jaisinghani was determined to change his circumstance in life and started out by helping run the family business, Polycab, which at the time was a small electric goods shop in Lohar Chawl.
Over the years, Inder applied his exceptional business acumen to transform Polycab from a tiny shop to the largest wire and cable manufacturing firm in India. In 1997, Jaisinghani took over as the Chairman and Director of Polycab, and under his leadership, the company ventured into new markets, and soon became a leading name in the cable manufacturing sector. How Polycab became a Rs 10,000 crore giant?
Under Inder Jaisinghani, Polycab, which started out as a small-time trading firm in 1986, has today become the leading cables and wires company in India, valued at a whopping 101,000 crore. In 2008, International Finance Corporation, the private equity arm of the World Bank, picked up a stake in Polycab, and in 2014, the company expanded its product catalog, and started manufacturing items like electric fans, LED lighting, switches and switchgear.
Polycab became a publicly-traded company in 2019, and currently has 28 manufacturing plants across India and exports its products to 79 countries. Once a small shop, Polycab has witnessed stunning growth in the last 50 years under the leadership of Inder Jaisinghani. Inder Jaisinghani net worth
Polycab Chairman, Inder Jaisinghani, who began his journey from a slum in Mumbai, is now one of the richest individuals in India, with a net worth of $2.1 billion (about Rs 181618322970), making him one of richest industrialists in the country, according to Forbes.
Apart from his business acumen, Jaisinghani is also renown for his charity and works for the upliftment of the economically and socially downtrodden communities through Polycab's CSR initiatives. He is also a vehement supporter of the 'Make in India' initiative.
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