The next gen of the Jindal family has just checked in at the corporate headquarters of the USD 10 billion power to ports JSW group. 22 year old Parth Jindal scion of the Jindal South West group, which controls India’s largest private sector steel producer by capacity, has joined the family run business at its corporate headquarters at Jindal Mansion in Mumbai.
Multiple senior officials familiar with the development said that “Parth has initially joined as an economist as he has completed his bachelors in Economics and Political Science from Brown University, Rhode Island USA.” A district level table tennis player, Mr Parth did his schooling at Mumbai’s tony Cathedral and John Connon School and Sevenoaks school at Kent. He has a sister who is already married.
Insiders forecast that Mr Parth is poised to take control of the group in the future, in much the same way that Adi Godrej’s children have taken control of different arms of the Godrej empire.
Ms Anita Belani the ex country head of Russell Reynolds Associates and an independent HR consultant at present said that “The earlier trend was for scions of business families to join the companies at senior levels and then make it to the top. However, now entrepreneurs realize the need to make their children go through a different process of getting exposure in different functions and roles before they get into a leadership role.”
Mr Parth who also learnt squash under Mr Sunil Verma, ex coach at the Jindal Squash Academy in Vasind Maharashtra is being seconded to the Japan head quarters of JSW Steel’s partner JFE Steel. JFE which holds around 16.17% of JSW Steel’s paid up equity capital as of end September 2012, is providing the Indian steel maker with access to technology to make automotive steel and electrical steel both of which are high value applications with tight quality specifications.
Senior JSW group officials familiar with the development said that “Parth is part of a team of over half a dozen mid level managers who are being seconded to Japan for a 6 month training program for exchange of technical expertise. Mr Parth will receive exposure in areas from technology, research and development and commercial in addition to others.”
Mr Parth said that “While I am there I will be working for JFE I will be undergoing rigorous training for six months. From marketing, to production planning to just in time delivery the aim is to understand and absorb as much of the Japanese practices as I can while I am there, so that when Icome back to India I can introduce some of the efficient Japanese methods to JSW. Also training under JFE will hopefully result in me gaining some much needed technical knowledge. I will also be learning about how JFE manufactures high grade auto steel, something that JSW is just beginning to foray into with JFE's technical help.”
