- JSW Steel Dolvi Works, Maharashtra, India
- JSW School of Public Policy (JSW-SPP), Indian Institute of Management, Ahmedabad
Company type | Private |
---|---|
Industry | Conglomerate |
Founded | 1982 |
Founder | Sajjan Jindal |
Headquarters | Mumbai, Maharashtra, India |
Area served | Worldwide |
Key people |
|
Products | |
Revenue | US$23 billion [1] |
Owner | Jindal family |
Number of employees | 55,000 [2] |
Subsidiaries |
|
Website | www |
JSW Group is an Indian multinational conglomerate, based in Mumbai. It is led by Sajjan Jindal and founded by Om Prakash Jindal. [3] The group's diverse businesses include steel, energy, infrastructure, cement, automotive and paints, across India, the United States, South America, and Africa. [4]
The JSW Group was founded in 1982 when Jindal acquired a re-rolling mill located in Tarapur, Maharashtra, near Mumbai, from Piramal Steel. [5] Following the acquisition, the group renamed it Jindal Iron and Steel Company (JISCO). Subsequently, in the same year, the group established its first steel plant in Vasind, near Mumbai. [6]
Jindal Vijayanagar Steel Limited (JVSL) was established in 1994. Situated at Toranagallu in the Bellary–Hospet region of Karnataka, this plant strategically positioned itself in the heart of the high–grade iron ore belt, sprawling across 3,700 acres of land. [7] In 2004, JSW made a strategic move by acquiring Salem Steel Works, adding to its portfolio. The year 2005 witnessed a pivotal moment in group's history when JISCO and JVSL merged to create JSW Steel. [8]
In 1994, JSW Energy Limited was established as power company, focusing on power generation, transmission and trading. [9]
In 1999, JSW Infrastructure was founded to construct and operate airports, shipyards, townships, roads and rail connectivity, inland waterways, water treatment plants, special economic zones and other infrastructural facilities. [10]
In 2008, JSW Group ventured into a rebar joint venture in Georgia. [11] The acquisition of an integrated steel plant at Dolvi, Maharashtra, in 2010 added to their steel production portfolio. And, the acquisition of Welspun Maxsteel in 2014 marked as a diversification in the group's history. [12]
In 2009, JSW Group entered the cement business by establishing JSW Cement and established production facilities in various locations including Vijaynagar, Nandyal (Andhra Pradesh), Dolvi, Jaipur, Shiva (Odhisha), Salboni (West Bengal), and Fujairah (United Arab Emirates). [13]
In 2018, JSW Group purchased Italy's Aferpi. [14] Also, investments were made in a greenfield Texas plant and the takeover of bankrupt Bhushan Power. In 2020, JSW's purchase of Bhushan Power faced legal challenges, but the group pressed on, acquiring stakes and expanding its presence. [15]
On 2 May 2019, JSW Group established JSW Paints with a total investment of ₹600 crore (US$72 million), with ₹250 crore of equity investment and a ₹350 crore debt investment from Axis Bank. [16] [17]
In 2021, JSW Steel Italy acquired a stake in GSI Lucchini and set a CO2 reduction target for 2030. [18] In 2022, they planned the merger of JISPL and CSSL subsidiaries and secured approval for a greenfield steel plant in Andhra Pradesh. [19] In 2013, the group entered into a collaboration with Japan's JFE Holdings in the electrical steel sector. [20] In December 2023, JSW Infrastructure announced plans to acquire a majority stake in PNP Port for ₹270 crore. [21]
In April 2024, JSW Steel raised a $900 million syndicated loan from a consortium of eight foreign banks (Singapore's DBS Bank, France's BNP Paribas, UK's HSBC and Standard Chartered, UAE's Mashreq Bank and First Abu Dhabi Bank, Japan's Sumitomo Mitsui Banking Corp (SMBC) and Taiwan's CTBC Bank) to refinance debt facilities and repay expensive loans ahead of schedule. [22]
The group witnessed growth, expanding from a company worth ₹93 crore (US$11 million) in 1993 to ₹12,700 crore (US$1.5 billion) crore in 2008, [5] and further expanding to become a company valued at ₹180,000 crore (US$22 billion) by 2023. [23] [24]
During 2023, the JSW Group increased its recruitment of female engineers through the Graduate Engineering Trainee (GET) program, nearly tripling the number compared to the previous year. The group has brought onboard over 2,300 young GETs, with nearly 600 of them being women, and has established a goal to reach a 30% representation of women in the program over the next two years. [25]
JSW Foundation is the philanthropic arm of JSW Group, set up in 1987. [62] The foundation works in the field of education, skill building training, healthcare and social development domains. Besides that, the Foundation is actively involved in restoration projects, including the preservation and restoration of significant archaeological ruins like Hampi [63] (and setting up Hampi Art Labs), [64] [65] Mughal Gardens of Kashmir (Shalimar Bagh and Nishat Bagh), [66] Keneseth Eliyahoo Synagogue, [67] [68] Maragondanahalli Lake in Bangalore, [69] David Sassoon Library, [70] [71] Shiv Khori [72] etc.
In May 2020, right at the outset of the COVID-19 pandemic in India, JSW Group pledged more than ₹100 crore to aid the relief initiatives led by PM CARES Fund and other State governments in their battle against the COVID-19 crisis. [73] [74]
During the second wave of COVID-19 pandemic in Karnataka in 2021, JSW Group established a temporary 1,000-bed COVID-19 hospital in Ballari, located near its township. [75] Also, the company installed a dedicated 5 km-long oxygen supply pipeline from its Vijayanagar steel plant to directly serve patients at the new hospital under construction. In a related effort, the group repurposed its multi-speciality Jindal Sanjeevani Hospital near Dolvi unit in Maharashtra to function as a COVID-19 treatment facility. [76]
Tata Steel Limited is an Indian multinational steel-making company, based in Jamshedpur, Jharkhand and headquartered in Mumbai, Maharashtra. It is a part of the Tata Group.
Aditya Birla Group is an Indian multinational conglomerate, headquartered in Mumbai. The group's business interests include metals, cement, fashion and retail, financial services, renewables, fibre, textiles, chemicals, real estate, trading, mining, and entertainment. The group has a presence in 36 nations and a combined annual revenue of US$62 billion, over 50% of which is derived from its overseas operations.
Eicher Motors Limited is an Indian multinational automotive company that manufactures motorcycles and commercial vehicles, headquartered in New Delhi. Eicher is the parent company of Royal Enfield, a manufacturer of middleweight motorcycles.
Naveen Jindal is an Indian industrialist, philanthropist, politician, sportsperson and the Member of Parliament of Kurukshetra constituency in Haryana. He is the youngest son of Late Om Prakash Jindal, also an industrialist-politician who was associated with the Indian National Congress. He was elected to the Lok Sabha, lower house of the Parliament of India, from the Kurukshetra constituency in the 2024 Indian general election for a 3rd term. Previously, he represented the constituency in the 14th and 15th Lok Sabha as well between 2004–2014. As an industrialist, he currently serves as the Chairman of Jindal Steel and Power Limited and Chancellor of the O. P. Jindal Global University.
Adani Ports and Special Economic Zone Limited (APSEZ) is an Indian multinational port operator and logistics company, part of Adani Group. APSEZ is India's largest private port operator with a network of 12 ports and terminals, including India's first port-based SEZ at Mundra and the first deep water transshipment port at Thiruvananthapuram. The company has attracted controversies for cronyism, alleged stock manipulation and violation of environmental norms.
Bharti Enterprises is an Indian multinational conglomerate, headquartered in Delhi, India. It was founded in 1976 by Sunil Bharti Mittal. Bharti Enterprises owns businesses spanning across telecommunications, manufacturing, insurance, real estate, hospitality, and food. The group's flagship company, Bharti Airtel, is a telecom service provider with operations in more than 18 countries across Asia, Africa and Europe. The company ranks amongst the top two mobile network operators globally by number of subscribers.
The economy of Gujarat, a state in Western India, is the most industrialised in India, having the highest industrial output of any state in the union. It has the highest exports of any Indian state, accounting for 33% of all Indian exports in 2022–23. It leads in diverse industrial sectors such as chemicals, petrochemicals, dairy, drugs and pharmaceuticals, cement and ceramics, gems and jewellery, textiles and engineering. It has the highest Electricity Production Capacity and Maritime Port Cargo Volume among all states in India. It also has significant agricultural production with major agricultural produce of the state being cotton, groundnuts (peanuts), dates, sugar cane, milk and milk products. Gujarat recorded the lowest unemployment rate in India in 2022, with 4.4% of the labour force being unemployed.
Sajjan Jindal is an Indian billionaire businessman. He is the chairman and managing director of JSW Group of companies; diversified in steel, mining, energy, sports, infrastructure and, software business.
JSW Steel Limited is an Indian multinational steel producer based in Mumbai and is a flagship company of the JSW Group. After the merger of Bhushan Power & Steel, Ispat Steel and Jindal Vijayanagar Steel Limited, JSW Steel became India's second largest private sector steel company.
Welspun World is an Indian multinational conglomerate with business interests in line pipes, textile, infrastructure, and steel. It is headquartered in Mumbai.
Adani Enterprises Limited (AEL) is an Indian multinational publicly-listed holding company and a part of Adani Group. It is headquartered in Ahmedabad and primarily involved in mining and trading of coal and iron ore. Through its various subsidiaries, it also has business interests in airport operations, edible oils, road, rail and water infrastructure, data centers, and solar manufacturing, among others.
Shapoorji Pallonji & Company Private Limited (SPCPL), trading as Shapoorji Pallonji Group, is an Indian conglomerate headquartered in Mumbai. Its primary business interests include construction and engineering, infrastructure, real estate, energy, and textiles, among others. The company was headed by a grandson of founder Pallonji Mistry, also named Pallonji Mistry, until 2012, when he announced his retirement and the succession of his son, Shapoor Mistry.
Ambuja Cements Limited, formerly known as Gujarat Ambuja Cement Limited (GACL), is a major Indian cement producing company. The Group markets cement and clinker for both domestic and export markets.
Greaves Cotton Ltd. is an Indian conglomerate engineering company that manufactures clean technology powertrain products for petrol, diesel and CNG engines and heavy equipment. The company is traded on the National Stock Exchange of India (NSE) and the Bombay Stock Exchange (BSE).
Century Plyboards (India) Ltd. is an Indian manufacturer, seller and exporter of plywoods, laminates, doors, PVCs and veneers. The company offers plywood products under the brand name, Century Ply, and exports its products to over 20 countries. Spread into a 6.6 acre area, the company's plant is located at Bishnupur, near Joka, Kolkata. Century Plyboards started the commercial production of MDF at its newly set-up unit at Punjab recently. Century Ply (Singapore) Pte. Ltd., a subsidiary of Century Plyboards, has acquired 49% stake in Huesoulin Wood Processing Factory Co. Ltd., making it as its associate company.
Parth Jindal is an Indian businessman and scion of JSW Group.
SMFG India Credit Co. Ltd., also known as SMICC, is an Indian non-banking financial company headquartered in Mumbai, India. It was founded in 2007 and operates as a wholly-owned subsidiary of SMFG, a global banking and financial services group. SMFG India Credit Co. Ltd. provides SME financing, vehicle loans, personal loans, and support for rural enterprises.
JSW MG Motor India Pvt Ltd, previously MG Motor India Private Limited until 2024, is an automobile manufacturer in India, which was established in 2019. Since 2023, it is a joint venture between the Mumbai-based Indian multinational conglomerate JSW Group and Shanghai-based Chinese automotive manufacturer SAIC Motor, a Chinese state owned automobile manufacturer which markets vehicles under the British MG marque.
The 2023 Union Budget of India was presented by the Minister of Finance of India on February 1, 2023. This was the fourth budget of Narendra Modi-led NDA government's second term, starting from 2020. The Economic Survey for 2022–2023 was released on January 31, 2023 before the budget.
Protean eGov Technologies Limited is an Indian technology company headquartered in Mumbai, India. The company focuses on developing digital public infrastructure (DPI) and e-governance initiatives for various governmental bodies in India. It works with central and state governments across multiple sectors including Tax Services, Social Security and Welfare, ID and Data Stack, Open Digital Ecosystem, and Cloud. In 2011, the company was appointed as a registrar for the Unique Identification Authority of India (UIDAI) to issue Aadhaar numbers to residents of the country.
{{cite book}}
: CS1 maint: multiple names: authors list (link)