Shashi Kiran Shetty

Shashi Kiran Shetty (born 7 June 1959) is the founder and chairman of Allcargo Logistics, part of the AVVASHYA Group.

Shashi Kiran Shetty
Born (1959-06-07) 7 June 1959
Bantwal, Mangalore, India
OccupationChairman and Managing Director,
Allcargo Logistics Ltd.; Chairman, ECU Worldwide; Chairman, Gati
Spouse(s)Arathi Shetty
Children2

Shetty started his career in the logistics industry in 1978 with Intermodal Transport and Trading Systems Private Limited, and subsequently moved to Forbes Gokak, a Tata Group company.[1]

Shetty was appointed a Commander of the Order of Leopold II by King Philippe of Belgium in 2015.[2]

Career

Shetty has a bachelor's degree in commerce from Shri Venkatramana Swamy College, Bantwal, Dakshina Kannada district, Karnataka. He moved to Mumbai for employment.[1]

Starting his career in the logistics industry in 1978 with Intermodal Transport and Trading Systems Private Limited, Mumbai, he subsequently moved to Forbes Gokak, a Tata Group company.[3]

With initial savings as seed funding of Rs. 25,000, Shetty at the age of 25 established his first business venture, Trans India Freight Services Pvt. Ltd.

In 1992, Shetty started Allcargo Logistics Ltd., with a vision to be an integrated logistics service provider. Under his stewardship Allcargo was the first company in India to introduce LCL (Less than Container Load) services.[4]

In 1995, Allcargo Logistics became an agent of Belgium-based ECU Line NV, the world's second largest LCL firm. Ten years later, Allcargo took 33.8% stake in ECU Line, now ECU Worldwide, and in the following year acquired the entire company. At the time of the takeover, ECU Line's revenue was five times the acquirer's revenue.[5][6]

In 2013, Allcargo Logistics acquired US based Econocaribe Consolidators and a controlling stake in Netherlands-based logistics company FCL Marine Rotterdam through its wholly owned arm Ecuhold NV.[7]

Given the spate of acquisitions led by him, he can be easily be acclaimed as one of the most successful entrepreneurs of his time.[8]

Allcargo Logistics rebranded all its international acquisitions as ECU Worldwide on 2 May 2016.[9]

In 2016, Allcargo Logistics also expanded into Contract Logistics with Avvashya CCI and offers customized end-to-end solutions for auto, pharma, chemical, e-commerce and spare part logistics.[10]

Considering demand for warehousing and government policy changes, Allcargo Logistics monetized existing land banks and forayed into logistics and industrial parks to provide Grade A warehousing under Allcargo Logistics Industrial Parks Private Limited in 2018. [11] [12]

Allcargo Logistics acquired controlling stake in Hyderabad-based Gati Ltd. and he has now been appointed as the Chairman at Gati. [13] [14]

Today, the group is a US$1.2 billion organization, and one of India's leading business conglomerate.

Social responsibility

Through Avashya Foundation, Shetty endeavours to play a significant ro people-centric inclusive development. Some of the key areas of initiatives are in health care, education, women empowerment and environmental sustainability. Shetty is also associated with a Maitree initiative by Allcargo.[15][16]

As part of its commitment to the logistics industry and society, Avashya Foundation and Allcargo Logistics run a Pradhan Mantri Kaushal Kendra (PMKK) in coordination with JNPT and CIDCO which trains local youth in various aspects of logistics. It gives underprivileged youth an opportunity to better their employability and standard of living and helps create a talent-pool of skilled individuals for the logistics industry. This Centre has received a 5-star rating (the highest possible) from the National Skill Development Council. [17]

During the current COVID-19 pandemic, Mr. Shetty has, in his personal capacity and through the Avashya Foundation, supported a number of social welfare initiatives that include food and grocery kits distribution, PPE for healthcare workers, monetary contributions, etc. [18] [19] [20]

Personal life

Shetty is married to Mrs. Arathi Shetty, who is also one of directors of Allcargo Logistics. She also spearheads Allcargo’s CSR arm, Avashya Foundation.

His son Vaishnav, who graduated from Emory University in the USA, now heads Allcargo and ECU Worldwide’s digital initiatives. His daughter Shloka, who is currently studying in Northwestern University in Chicago, will graduate in 2021. Mr. Shetty’s brother-in-law Mr. Adarsh Hegde is the Jt. Managing Director at Allcargo Logistics.

He is involved with the construction of ISKCON temple at Kharghar in Navi Mumbai.

In 2014, he bought Aashirwad, a bungalow in Bandra, Mumbai previously belonging to Hindi actor Rajesh Khanna.[21]

Interests

He enjoys collecting artefacts and artworks of upcoming artists.[22]

He is an avid golfer and takes keen interest in tennis, having bought a 30% stake in Singapore Slammers.[23]

Allcargo has been a principal sponsor of ‘Golf Junta’ by Isha Foundation. And Mr. Shetty has had the privilege to play alongside Sadhguru Jaggi Vasudev for three years.

Awards and recognition

Over the years, Shetty has received several awards and recognition, including:

2020 - Bunts Star IBCCI Achievers Awards 2020 in the ‘Business’ category [24]

2019 - Global Visionary at the Economic Times Family Business Awards on 23rd January 2019. [25]

2019 - Special Felicitation for Allcargo Logistics for completing successful 25 years in the industry – at India Maritime Awards by DST [26]

2019 - Global Logistics Personality of the Year at MALA 2019. [27]

2019 - Special accolade to honour the remarkable achievement of completing 25 glorious years in the logistics industry at MALA 2019. [28]

2018 - Past President Award for exemplary contribution in the shipping and logistics industry by Maritime Association of Nationwide Shipping Agencies (India) [29]

2017 - Visionary Leadership & Exemplary Contribution to Business award at the Leadership Excellence Awards, 2017 [30]

2016 - Businessman of the Year at India Seatrade Awards [31]

2016 - Indian Maritime Businessman of the Year at Gateway Awards 2016 [32]

2015 - Distinction of Commander of the Order of Leopold II, the highest civilian honor by His Royal Highness King Philippe, King of the Belgians, making him one of the very few global Indians to receive this honor.[33]

2015 - Lifetime Contribution to Freight at the Global Freight Awards 2015.[34]

2013 - Global Indian Maritime Personality by Maharashtra Chamber of Commerce, Industry and Agriculture [35]

2012 - News Maker of the Year from Maritime and Logistics Awards (MALA)[36]

2012 - Outstanding Contribution Award from Port of Antwerp [36]

2011 - Asia's Best Employer Brand for CEO of the year with best HR Orientation [37]

2010 - Entrepreneur of the Year Award in services category from Ernst & Young [38]

2009 - Logistics Company of the Year from NDTV Business Leadership Awards [39]

2008 - Logistics Company of the Year from Maritime Gateway [40]

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References
  1. "Kaka's Aashirwad is 'dream come true' for Bandra tycoon - Mumbai Mirror -". Retrieved 30 June 2016.
  2. "Indian business leader made Commander of the Order of Leopold II". portofantwerp.com. Retrieved 23 December 2016.
  3. "Shashi Kiran Shetty, the man who turned R 25,000 into 3000 crore company and bought 'Ashirwad'- Daily Bhaskar -".
  4. "Shashi Kiran Shetty, Founder & Chairman, Allcargo Logistics Ltd – NBM Media -".
  5. "We will dilute stake to create liquidity – Live Mint -".
  6. "Less than container load biz is recession proof: Allcargo chief – Hindu Businessline -".
  7. "Allcargo acquires US based Econocaribe Consolidators – Economic Times -".
  8. "Brave New Businessmen-India Today-".
  9. "Allcargo Logistics rebrands its global business- The Hindu-".
  10. "Allcargo announces JV with CCI Logistics". The Financial Express. 25 August 2016. Retrieved 31 July 2020.
  11. Manoj, P. "Allcargo in talks to raise ₹1,000 cr to fund logistics parks foray". @businessline. Retrieved 31 July 2020.
  12. Manoj, P. "Allcargo makes space for Flipkart, Decathlon". @businessline. Retrieved 31 July 2020.
  13. "Gati to return to profitability next quarter: Allcargo Logistics". The Economic Times. Retrieved 31 July 2020.
  14. "Gati Appoints Shashi Kiran Shetty as New Chairman". BW people. Retrieved 31 July 2020.
  15. "Avashya Foundation's CSR Initiatives benefiting the society- Daily Shipping Times-".
  16. "Skill training center set up for children of farmers who committed suicide-The CSR Journal-".
  17. "Development Centre of Allcargo Logistics accredited with 5 star grading". CAAS /// Cargo Airports & Airline Services. 27 January 2020. Retrieved 31 July 2020.
  18. Gupte, Masoom. "Allcargo donates Rs 1 crore to Maha CM's Relief Fund for Covid-19 fight". The Economic Times. Retrieved 31 July 2020.
  19. "DST". www.dst.news. Retrieved 31 July 2020.
  20. "Allcargo Logistics reaches out to COVID-19 affected in Tamil Nadu | First Construction Council". www.firstconstructioncouncil.com. Retrieved 31 July 2020.
  21. "Meet Shashi Shetty: The billionaire who bought Rajesh Khanna's Rs 85 crore bungalow". The Economic Times. 3 September 2014. Retrieved 23 December 2016.
  22. "Allcargo Logistics's Shashi Kiran office cabin signifies efficiency & passion –Economic Times-".
  23. "Allcargo buys 30% in tennis league team-Live Mint-".
  24. "Bunts community awards its achievers". Deccan Herald. 1 March 2020. Retrieved 31 July 2020.
  25. Media, Gateway (5 February 2019). "Shashi Kiran Shetty bestowed with Global Visionary award at ET Family Business Awards". Maritime Gateway. Retrieved 31 July 2020.
  26. "Allcargo Logistics crowned "Container Freight Station Operator of the Year" (Pan India) at India Maritime Awards 2019". dst.news. Retrieved 31 July 2020.
  27. "MALA 2019". www.mala-awards.com. Retrieved 31 July 2020.
  28. "MALA 2019". www.mala-awards.com. Retrieved 31 July 2020.
  29. "Allcargo Logistics: A Global Association Integrating Logistics Solutions". Insights Success. 20 October 2018. Retrieved 31 July 2020.
  30. "Exim India::The first & the only national daily on Export, Import, Shipping". eximin.net. Retrieved 31 July 2020.
  31. "Mr. Shashi Kiran Shetty receives the Businessman of the year award at the India Seatrade Awards | Ecargolog - Asia's Cargo & Logistics News Online". Retrieved 31 July 2020.
  32. "Dr. Shashi Kiran Shetty conferred with the Indian Maritime Businessman of the year 2016 award at the Gateway awards 2016". www.epcworld.in. Retrieved 31 July 2020.
  33. Admin. "Allcargo's Executive Chairman Mr. Shashi Kiran Shetty Awarded the Highest Civilian Honor by the Royalty of Belgium 'Distinction of Commander of the Order of Leopold II'". maritimegateway.com. Retrieved 30 June 2016.
  34. "Shashi Kiran Shetty awarded 'Lifetime Contribution to Freight' at the Global Freight Awards 2015-Daily Shipping Times-".
  35. http://www.dailyshippingtimes.com/news-page-january-13.php. Missing or empty |title= (help)
  36. "Shashi Kiran Shetty awarded Allcargo Logistics by Port of Antwerp for outstanding contribution-Daily Shipping Times-".
  37. "HR Strategies in Place in your Company-Silicon India-".
  38. "Allcargo Global's Shashi Kiran Shetty receives entrepreneur of the year award-NDTV Profit-".
  39. "Shashi Kiran Shetty's Allcargo Wins NDTV 'Company of the Year' Award-Daijiworld-".
  40. "Annual Indian Maritime Gateway Awards 2008-Maritime Gateway-".
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