Parth Jindal

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Parth Jindal
Parth jindal.jpg
MD of JSW Cement & CEO of Bengaluru FC
Born (1990-05-19) 19 May 1990 (age 33)[1]
NationalityIndian
SpouseAnushree Jasani
Parents
Websitewww.jsw.in

Parth Jindal (born 19 May 1990) is an Indian businessman and scion of JSW Group.[2][3]

Early life[edit]

Jindal is the youngest of three children of Sajjan Jindal and Sangita Jindal.[4] Jindal earned his MBA from Harvard Business School in 2016 and his BA in Economics and Political Science from Brown University in 2012.[5] He is also an alumnus of Cathedral and John Connon School from Mumbai[6] and Sevenoaks School in England.[7]

He joined the JSW Group as an economic analyst in 2012 and also did a secondment with JFE Steel Japan for six months.[5]

Career[edit]

JSW Cement[edit]

Parth Jindal was appointed managing director of JSW Cement in June 2014[8] and is aiming to expand from 14 MPTA to a 20 Million MPTA target by December 2021.[8] JSW Cement currently makes two variants of Green Cement products – JSW Cement Portland Slag Cement and Concreel HD. To bring down CO2 levels in production of cement, JSW Cement has adopted a waste utilisation process that uses by-products or waste from other industries, thus limiting the use of carbonaceous raw materials.[9]

In April 2018, JSW Cement confirmed its stake in Shiva Cement Ltd at 54.44%.[10]

The company has commissioned enhanced capacity at their Dolvi Plant, and have commissioned plants in Jajpur, Odisha.[11] Parth is working towards raising Rs. 3,500 Crores through an IPO in 2021.[12]

Under Parth's leadership the company has invested US$150 Million in Fujairah, to set-up a one million tonne per annum clinker unit to achieve its 2020 targets. Through this investment Parth hopes to contribute to the overall economic development of Fujairah as well as create new direct and indirect job opportunities.[13]

JSW USA[edit]

Parth is the Director of JSW USA. Under his guidance, JSW Steel has made a US$1 Billion Commitment to be split evenly between US Operations in Texas and in Ohio.[14] An investment that was welcomed by US President Donald Trump.[15] On investments in JSW USA, Parth shared that access to natural gas at extremely economical prices and the abundant availability of scrap steel in Texas made conditions very conducive for manufacturing through the Electric Art Furnace Route.[16] The investments also guaranteed over 1000 jobs in the industry.[17]

JSW Paints[edit]

Jindal is managing director of JSW Paints. The JSW Group formally announced the launch of JSW Paints on 2 May 2019.[18][19] The company is aiming to achieve Rs. 20 billion revenue mark by 2022.[20] The company has built two facilities – a 25,000 kilo litres coil coating facility at Vasind in Maharashtra for industrial demand and another 10,000 kilo litre water-based decorative paints facility in Vijayanagar in Karnataka.[20] The Vijayanagar plant was inaugurated on 27 January 2020.

The company offers a complete range of environment friendly water-based paints for interior and exterior walls, wood and metal.[21]

JSW Sports[edit]

Parth is the Director of JSW Sports, that currently runs the ISL Football Club Bengaluru FC, Delhi based IPL Team Delhi Capitals and the Inspire Institute of Sport.[22][23] In 2018, JSW Sport acquired 50% stake of the Delhi Capitals from GMR Group and Jindal was appointed Chairman of the IPL team.[24][25]

JSW Sports also runs the Sports Excellence Program that provides training to elite Indian Olympic Athletes and also manages their commercial interests.[26]

In 2018, JSW Sports won the FICCI India Sports Awards in the category of Best Company promoting sports[27] and was also awarded the Rashtriya Khel Protsahan Puruskar by the Government of India.[28]

Inspire Institute of Sport[edit]

Parth Jindal is the founder of the Inspire Institute of Sport (IIS) in Vijayanagara district that was formally launched on 15 August 2018.[29] Spread across 42 acres, the Institute aims to provide a world class training centre which can provide Indian athletes access to the most advanced infrastructure, coaching and sports science within the country. It is an initiative led by the JSW Group.[23]

IIS has been recognised by the Sports Authority of India as a Khelo India accredited development centre for Boxing and Wrestling. The initiative is also supported by CSR funding from a number of Indian and International corporates.[23]

JSW Venture Fund[edit]

Jindal also oversees the Management of JSW Venture Fund.[30]

Other ventures[edit]

Jindal's wife Anushree Jindal oversees a micro-finance venture, Svamaan Financial Services, that is 100% owned by the couple.[31]

Philanthropy[edit]

Project Yashoda[edit]

Jindal was in charge of supervising the creation of an Android-based mobile application that can track the developmental indicators of children under six. The local women, given the moniker "Yashodas" after a figure from Hindu mythology, were instructed to take photographs of the mother and child using their mobile phones, scan the mother and child's irises, and enter the necessary information into the application. This app enables real-time, GPS-enabled tracking of children's nutrition and growth markers, making it possible for medical professionals and government officials to take appropriate follow-up action when required. Consequently, the prevalence of malnutrition in the three talukas of Palghar in which the JSW Foundation is active has significantly decreased. In 2014, then-Chief Minister Devendra Fadnavis of Maharashtra gave the order for the technology to be implemented throughout the state..[32]

Personal life[edit]

Parth is married to Anushree Jindal (née Jasani).[33] They have a daughter born in April 2019.[34]

Awards and recognition[edit]

  • GQ's 50 most influential Indians in 2018.[35]
  • Jashn E Youngistan 2018.[36]

References[edit]

  1. ^ John, Satish; Gaur, Vatsala (8 August 2018). "A 28-year-old scion is earning the spurs at $13 billion JSW Group". The Economic Times. Retrieved 9 May 2019.
  2. ^ "Excl: JSW Group scion Parth Jindal on turnaround of US biz". Moneycontrol. Retrieved 24 September 2022.
  3. ^ "Top Family Businesses Are Now Led by the New Generation. Can They Build on Their Forefathers' Legacy?". Business Today. 6 September 2022. Retrieved 24 September 2022.
  4. ^ "Jindal family". Forbes. Retrieved 10 May 2019.
  5. ^ a b John, Satish; Gaur, Vatsala (8 August 2018). "A 28-year-old scion is earning the spurs at $13 billion JSW Group". The Economic Times. Retrieved 10 May 2019.
  6. ^ Janardhan, Arun (7 August 2013). "Bengaluru FC: Men of steel". Mint. Retrieved 11 May 2019.
  7. ^ PTI (9 July 2013). "JSW Steel seeks approval from shareholders to hike scion's pay". Mint. Retrieved 13 May 2019.
  8. ^ a b Iyengar, Suresh P. (14 June 2016). "Parth Jindal appointed MD of JSW Cement, will take over in July". Business Line. Retrieved 10 May 2019.
  9. ^ Urs, Anil (14 September 2018). "Use of green raw materials on the rise amidst shift to sustainable construction: JSW Cement". Business Line. Retrieved 10 May 2019.
  10. ^ "JSW Cement Ltd increases stake in Shiva Cement Ltd to 54.44%". EquityBulls. 4 April 2019. Retrieved 10 May 2019.
  11. ^ "JSW Cement to invest Rs 2,000 crore to take capacity to 20 mt by 2020". Mint. 19 February 2019. Retrieved 10 May 2019.
  12. ^ Lee, Kevin (20 February 2019). "JSW Cement charts path to 2021 IPO". CNBC. Retrieved 10 May 2019.
  13. ^ Majumdar, Rakhi (19 July 2018). "JSW Cement will invest close to US$150 million in Fujairah". The Economic Times. Retrieved 10 May 2019.
  14. ^ "Can an Indian conglomerate bring back American steel? | Pittsburgh Post-Gazette". newsinteractive.post-gazette.com. Retrieved 10 May 2019.
  15. ^ "Donald Trump welcomes JSW Steel's $1-billion investment plans in US". The Economic Times. 24 June 2018. Retrieved 10 May 2019.
  16. ^ "India's JSW Steel to invest $500 million in U.S. operations". Reuters. 26 March 2018. Retrieved 10 May 2019.
  17. ^ Ell, Kellie (21 June 2018). "Steel company JSW USA to add 1,000 new jobs: CEO". CNBC. Retrieved 10 May 2019.
  18. ^ Thomas, Tanya (2 May 2019). "JSW enters paints business with ₹600 crore investment". Mint. Retrieved 10 May 2019.
  19. ^ Lee, Kevin (2 May 2019). "JSW Group forays into paints, targets Rs 2,000 crore revenue by 2022". CNBC. Retrieved 10 May 2019.
  20. ^ a b Gaur, Vatsala (2 May 2019). "JSW Paints aims at Rs 2,000 crore revenue over three years". The Economic Times. Retrieved 10 May 2019.
  21. ^ Jayakumar, P B (3 May 2019). "JSW Group enters paints business with 'Any Colour, One Price' USP". Business Today. Retrieved 28 February 2021.
  22. ^ "ISL final at Mumbai Football Arena a 'bummer' – BFC CEO". ESPN. 15 March 2019. Retrieved 10 May 2019.
  23. ^ a b c PTI (15 August 2018). "JSW Sports launches Inspire Institute of Sport Vijayanagar". InsideSport. Retrieved 10 May 2019.
  24. ^ "Delhi Daredevils Renamed Delhi Capitals, Shreyas Iyer to Lead". The Quint. 5 December 2018. Retrieved 23 December 2018.
  25. ^ PTI (4 December 2018). "Delhi Daredevils is now Delhi Capitals". The Hindu. Retrieved 23 December 2018.
  26. ^ Gaur, Vatsala (21 December 2018). "JSW Sports to also manage athletes". The Economic Times. Retrieved 10 May 2019.
  27. ^ "JSW Sports awarded at FICCI India Sports Awards,APN News,Oct 27, 2018". ficci.in. Retrieved 10 May 2019.
  28. ^ Bera, Kaustav. "JSW Sports awarded Rashtriya Khel Protsahan Puruskar | Goal.com". www.goal.com. Retrieved 10 May 2019.
  29. ^ Ramdev, Darshana (25 August 2018). "Vision 2020: Parth Jindal sets sights on Tokyo Olympics". Deccan Chronicle. Retrieved 10 May 2019.
  30. ^ Chanchani, Madhav; Mandavia, Megha (2 September 2015). "Sajjan Jindal forms JSW Venture Fund to invest in early-stage internet, technology startups". The Economic Times. Retrieved 10 May 2019.
  31. ^ Ray, Atmadip (22 January 2019). "Jindal family's daughter-in-law in microfinance foray". The Economic Times. Retrieved 10 May 2019.
  32. ^ "Being humane: How business scions are furthering the legacy of giving". Forbes India. Retrieved 10 May 2019.
  33. ^ Gupte, Masoom (11 May 2016). "An extravagant affair: Parth Jindal ties the knot with Anushree Jasani in Vienna". The Economic Times. Retrieved 10 May 2019.
  34. ^ "Parth Jindal and his wife Anushree become proud parents of a baby girl". Mumbai Mirror. 17 April 2019. Retrieved 14 May 2019.
  35. ^ "GQ's 50 Most Influential Young Indians of 2018". GQ India. 5 December 2018. Retrieved 10 May 2019.
  36. ^ News24 (24 November 2018), जश्न-ए-यंगिस्तान: उप राष्ट्रपति वेंकैया नायडू ने उद्योगपति पार्थ जिंदल को किया सम्मानित, retrieved 10 May 2019

External links[edit]

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