Parth Jindal

Parth Jindal (born 19 May 1990) is an Indian businessman. He is the managing director of JSW Cement, director of JSW USA, managing director of JSW Paints, director of JSW Sports, chairman of IPL cricket team Delhi Capitals and CEO of ISL football club Bengaluru FC[2] He is also the founder of the Inspire Institute of Sport and oversees the management of JSW Venture Fund.

Parth Jindal
MD of JSW Cement & CEO of Bengaluru FC
Born (1990-05-19) 19 May 1990[1]
NationalityIndian
Spouse(s)Anushree Jasani
Parents
Websitewww.jsw.in

Early life

Jindal is the youngest of three children and the only son of Sajjan Jindal and Sangita Jindal and grandson of OP Jindal.[3] Jindal earned his MBA from Harvard Business School in 2016 and his BA in Economics and Political Science from Brown University in 2012.[4] He is also an alumnus of Cathedral and John Connon School from Mumbai[5] and Sevenoaks School in England.[6]

Parth joined the JSW Group as an economic analyst in 2012 and also did a secondment with JFE Steel Japan for six months.[4]

Businesses

JSW Cement

Parth Jindal was appointed managing director of JSW Cement in June 2014[7] and is aiming to expand from 14 MPTA to a 20 Million MPTA target by December 2020.[7] 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.[8]

In April 2018, JSW Cement confirmed its stake in Shiva Cement Ltd at 54.44%[9]

The company has commissioned enhanced capacity at their Dolvi Plant, and have commissioned plants in Jajpur, Odisha.[10] Parth is working towards raising Rs. 3,500 Crores through an IPO in 2021[11]

Under Parth's leadership the company has invested US$150 Million in Fujairah UAE, 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.[12]

JSW USA

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.[13] An investment that was welcomed by US President Donald Trump.[14] 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.[15] The investments also guaranteed over 1000 jobs in the industry.[16]

JSW Paints

Jindal is managing director of JSW Paints. The JSW Group formally announced the launch of JSW Paints on 2 May 2019.,[17][18] The company is aiming to achieve Rs. 20 billion revenue mark by 2022.[19] 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.[19] 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.[20]

JSW Sports

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.[2][21] In 2018, JSW Sport acquired 50% stake of the Delhi Capitals from GMR Group and Jindal was appointed as Chairman of the IPL team.[22][23]

JSW Sports also runs the Sports Excellence Program that provides training to elite Indian Olympic Athletes and also manages their commercial interests.[24]

In 2018, JSW Sports won the FICCI India Sports Awards in the category of Best Company promoting sports[25] and was also awarded the Rashtriya Khel Protsahan Puruskar Award by the Indian Government for its contribution towards sport in India, which is the highest accolade awarded by the Government of India.[26]

Inspire Institute of Sport

Parth Jindal is the founder of the Inspire Institute of Sport (IIS) in Vijayanagara that was formally launched on 15 August 2018.[27] 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.[21]

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.[21]

JSW Venture Fund

Jindal also oversees the Management of JSW Venture Fund.[28]

Other ventures

Jindal's wife Anushree Jindal oversees a micro-finance venture, Svamaan Financial Services, that is 100% owned by the couple.[29]

Personal life

Parth is married to Anushree Jindal (née Jasani).[30] They have a daughter born in April 2019.[31]

Philanthropy Work: Launch of Yashoda

Apart from his interest in Sport, inspired by JSW Foundation's work in mitigating malnutrition in Palghar District, Parth oversaw the development of an Android-based app to monitor the development indicators of children under the age of six. Local women, nicknamed ‘Yashodas’ inspired by a female character from Hindu Mythology were trained to take photographs of mother and child on their mobile phones, iris-scan them and enter the required information in the app. Today, this allows for real-time, GPS-enabled tracking of the nutrition and growth markers of children, letting doctors and officials take follow-up action where needed. Malnutrition, as a result, has fallen drastically in the three talukas of Palghar that the JSW Foundation works in. Chief Minister Devendra Fadnavis has mandated that the technology be rolled out across Maharashtra.[32]

Awards and recognition

Parth was selected one of GQ's 50 most influential Indians in 2018.[33] He was felicitated by the Vice-President of India in 2018 at the Jashn E Youngistan awards in recognition for his contribution to the society and helping the nation to make an indelible mark globally[34] Parth Jindal received the Rashtriya Khel Protsahan Puruskar Award on behalf of JSW Sport in October 2018[26]

References
  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. "ISL final at Mumbai Football Arena a 'bummer' – BFC CEO". ESPN. 15 March 2019. Retrieved 10 May 2019.
  3. "Jindal family". Forbes. Retrieved 10 May 2019.
  4. 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.
  5. Janardhan, Arun (7 August 2013). "Bengaluru FC: Men of steel". Mint. Retrieved 11 May 2019.
  6. PTI (9 July 2013). "JSW Steel seeks approval from shareholders to hike scion's pay". Mint. Retrieved 13 May 2019.
  7. Iyengar, Suresh P. "Parth Jindal appointed MD of JSW Cement, will take over in July". @businessline. Retrieved 10 May 2019.
  8. Urs, Anil. "Use of green raw materials on the rise amidst shift to sustainable construction: JSW Cement". @businessline. Retrieved 10 May 2019.
  9. "JSW Cement Ltd increases stake in Shiva Cement Ltd to 54.44%". EquityBulls. 4 April 2019. Retrieved 10 May 2019.
  10. "JSW Cement to invest Rs 2,000 crore to take capacity to 20 mt by 2020". Mint. 19 February 2019. Retrieved 10 May 2019.
  11. "JSW Cement charts path to 2021 IPO". cnbctv18.com. Retrieved 10 May 2019.
  12. Majumdar, Rakhi (19 July 2018). "JSW Cement will invest close to US$150 million in Fujairah". The Economic Times. Retrieved 10 May 2019.
  13. "Can an Indian conglomerate bring back American steel? | Pittsburgh Post-Gazette". newsinteractive.post-gazette.com. Retrieved 10 May 2019.
  14. "Donald Trump welcomes JSW Steel's $1-billion investment plans in US". The Economic Times. 24 June 2018. Retrieved 10 May 2019.
  15. "India's JSW Steel to invest $500 million in U.S. operations". Reuters. 26 March 2018. Retrieved 10 May 2019.
  16. Ell, Kellie (21 June 2018). "Steel company JSW USA to add 1,000 new jobs: CEO". CNBC. Retrieved 10 May 2019.
  17. Thomas, Tanya (2 May 2019). "JSW enters paints business with ₹600 crore investment". Mint. Retrieved 10 May 2019.
  18. "JSW Group forays into paints, targets Rs 2,000 crore revenue by 2022". cnbctv18.com. Retrieved 10 May 2019.
  19. Gaur, Vatsala (2 May 2019). "JSW Paints aims at Rs 2,000 crore revenue over three years". The Economic Times. Retrieved 10 May 2019.
  20. "JSW Group enters paints business with 'Any Colour, One Price' USP". businesstoday.in. Retrieved 10 May 2019.
  21. PTI (15 August 2018). "JSW Sports launches Inspire Institute of Sport Vijayanagar". InsideSport. Retrieved 10 May 2019.
  22. "Delhi Daredevils Renamed Delhi Capitals, Shreyas Iyer to Lead". The Quint. 5 December 2018. Retrieved 23 December 2018.
  23. PTI (4 December 2018). "Delhi Daredevils is now Delhi Capitals". The Hindu. Retrieved 23 December 2018.
  24. Gaur, Vatsala (21 December 2018). "JSW Sports to also manage athletes". The Economic Times. Retrieved 10 May 2019.
  25. "JSW Sports awarded at FICCI India Sports Awards,APN News,Oct 27, 2018". ficci.in. Retrieved 10 May 2019.
  26. Bera, Kaustav. "JSW Sports awarded Rashtriya Khel Protsahan Puruskar | Goal.com". www.goal.com. Retrieved 10 May 2019.
  27. Ramdev, Darshana (25 August 2018). "Vision 2020: Parth Jindal sets sights on Tokyo Olympics". Deccan Chronicle. Retrieved 10 May 2019.
  28. 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.
  29. Ray, Atmadip (22 January 2019). "Jindal family's daughter-in-law in microfinance foray". The Economic Times. Retrieved 10 May 2019.
  30. 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.
  31. "Parth Jindal and his wife Anushree become proud parents of a baby girl". Mumbai Mirror. 17 April 2019. Retrieved 14 May 2019.
  32. "Being humane: How business scions are furthering the legacy of giving". Forbes India. Retrieved 10 May 2019.
  33. "GQ's 50 Most Influential Young Indians of 2018". GQ India. 5 December 2018. Retrieved 10 May 2019.
  34. News24 (24 November 2018), जश्न-ए-यंगिस्तान: उप राष्ट्रपति वेंकैया नायडू ने उद्योगपति पार्थ जिंदल को किया सम्मानित, retrieved 10 May 2019
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