Back in the 1950's, when India newly gained independence, the situation was critical. It was slowly developing with growth, infrastructure, and institutions. During such circumstances, the agricultural sector was the only hope for all the Indians for following traditional methods. In Haryana’s Hisar district, Omprakash Jindal was born, and his family was dependent on agriculture. It was a difficult time for them. The traditional work which his family worked on couldn't bring prosperity and Omprakash Jindal always wanted to establish his own business to support his family.
Omprakash Jindal visited one of his cousins place where he learned all the steel-related work. He, along with his cousin, bought steel pipes from other factories which were spoiled and damaged. Eventually they were repaired, modified and sold at the local markets. It was a simple business which was profitable and created growth in their business. It became difficult to gather damaged steel after a few years as many steel industries understood the value of damaged steel and stopped selling equipment to Jindal. During that business, Omprakash Jindal identified that most of the steel pipes were made in England rather than India. This gap made the beginning for the Jindal group to enter the steel industry.
The Journey Of Jindal Steel
Finally, Jindal group was established with a small investment by making small products of steel. This business grew slowly with time and patience. From supplier to manufacturing of steel, Jindal has reached to a massive growth across the globe today. Ompraksh Jindal was involved in politics and was in a responsible position in the Haryana Cabinet.
As the business grew on a massive scale, he allocated four shares of his business to his all 4 sons by giving them equal shares and resources. After the passing of Omprakash Jindal, his wife Savitri Jindal took over the responsibility by managing the entire Jindal group even today. She was named in the Forbes list as India’s richest woman. Today, the businesses have been successfully taken over by next generation by having independent control over their entities.
Today, Jindal Group has a net worth of $40 billion dollars with a presence in 100+ countries. They have almost 1lakh employees working for JSW steels across all branches.
