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From losing father at 15 - To building one of India's largest wire business Inder Jaisinghani, the co-founder and Chairman of Polycab India Ltd., has become a prominent figure in the Indian electrical manufacturing industry. His remarkable journey from a modest hardware store in Mumbai to leading a billion-dollar enterprise is a testament to his entrepreneurial spirit, resilience, and commitment to quality. Early Life and Challenges Born in 1953 into a Sindhi business family, Inder faced significant challenges early in life. At just 15 years old, he experienced the tragic loss of his father, Thakurdas Jaisinghani, which forced him to drop out of school and take the reins of the family business, Sindh Electric Stores. Located in Mumbai's Lohar Chawl—an area known for its electrical goods—Inder and his brothers Girdhari, Ajay, and Ramesh worked tirelessly to keep the family business afloat during this difficult time. The early years were marked by hard work and determination as they navigated the complexities of running a retail operation. This experience provided them with invaluable insights into the electrical market and laid the groundwork for their future endeavors. Founding Polycab In 1983, recognizing a growing demand for electrical cables in India, Inder and his brothers took a bold step by founding Polycab. They started in a modest 1,000 sq. ft. garage in Sewri, Mumbai, focusing on manufacturing Polyvinyl Chloride (PVC) insulated wires and cables. The timing was fortuitous; as the Brihanmumbai Electricity Supply and Transport (BEST) mandated the use of cables in buildings, Polycab was poised to fill a significant market gap. This strategic move marked the beginning of what would become one of India's leading electrical manufacturing companies. Rapid Growth and Expansion Polycab quickly scaled its operations by relocating to a larger facility in Halol, Gujarat. The company’s commitment to quality and innovation propelled its growth trajectory: - Revenue Milestones: From an initial revenue of ₹2 million ($27,000) in its first year, Polycab achieved revenues of ₹18,039.4 crore ($2.4 billion) by 2023. - Market Position: As of 2023, Polycab commands an impressive 26% market share in the wires and cables sector. - Manufacturing Footprint: The company operates 28 manufacturing plants across India, showcasing its extensive production capabilities. - Distribution Network: With over 3,800 distributors, Polycab supplies products to more than 205,000 retail outlets, ensuring widespread availability. Financial Success Inder Jaisinghani’s financial success has mirrored that of Polycab. His estimated net worth reached approximately $6.4 billion (₹53,298 crore) by 2023—a significant increase from $3.35 billion in 2022. This remarkable growth reflects not only his success as an entrepreneur but also his ability to create value through innovative products and sustainable practices. Personal Philosophy and Philanthropy Despite his immense success, Inder remains grounded and committed to ethical business practices. He emphasizes trust, quality, and long-term relationships as cornerstones of his business philosophy. Inder believes that true success should uplift others. His philanthropic initiatives have positively impacted nearly 78,000 lives, demonstrating his commitment to social responsibility. Through various educational programs and community development projects, he aims to give back to society while inspiring future generations. Inder Jaisinghani's journey from a small hardware shop to leading one of India's largest electrical manufacturing companies illustrates the power of perseverance and strategic thinking. His leadership at Polycab not only showcases his entrepreneurial acumen but also serves as an inspiration for aspiring entrepreneurs worldwide.