Shashi Ruia, Founder Chairman, Essar
Mr. Ruia began his career in the family business in 1965 under the guidance of his father, the late Nand Kishore Ruia. Along with brother Ravi, Shashi Ruia laid the foundation of Essar and spearheaded its business strategy, diversification and growth. Today, Essar Global Fund Limited, the business Mr. Ruia co-founded, is a global investor, controlling a number of world-class assets diversified across the core sectors of Energy (Oil & Gas and Power), Metals & Mining, Infrastructure (comprising ports and EPC businesses) and Services (Shipping, Telecom, Realty and Outsourcing and Technology Solutions). The Fund's portfolio companies generate aggregate revenues in excess of US$35 billion with operations in more than 29 countries, it employs over 60,000 people.
Essar is currently implementing a Greenfield project in USA to set up a Taconite plant with an investment of USD 1.8 billion. In addition, Essar is operating coal mines in the states of Kentucky and West Virginia.
Shashi Ruia's vision saw Essar gain a first-mover advantage in many of these businesses. For example, when the Indian telecom sector was opened up for private participation, Essar was among the first companies to offer mobile telephony services.
Mr. Ruia is on several important national bodies and industry associations. He was on the managing committee of the Federation of Indian Chambers of Commerce and Industry (FICCI), an apex body of India's trade and business associations. He has also been the Chairman of the prestigious Indo-US Joint Business Council and is a former president of the Indian National Ship owners Association (lNSA). He has been nominated by the Prime Minister of India to serve as a member on multiple business delegations for improving strategic international partnerships and economic relations such as-India–Japan Business Leaders Forum (IJBLF), Indo-US CEO's forum 2014, India – Australia CEOs Forum and India – Japan Business Council.
In 2007, Mr. Ruia joined an elite list of achievers, which includes the likes of Richard Branson, Peter Gabriel, Ray Chambers, Pam Omidyar, Amy Robbins and Richard Tarlow, who independently fund The Elders. The Elders is a group of world renowned personalities, comprising Desmond Tutu, Graça Machel, Kofi Annan, Jimmy Carter, Ii Zhaoxing, Mary Robinson and Muhammad Yunus, who have joined hands to tackle the world's most difficult problems.
Mr. Ruia was also the recipient of the Business India's Businessman of the Year Award 2010.
Widely regarded as one of the architects of modem India, Shashi Ruia has a passion for education and mentoring young talent. He is proud of all the employees of Essar who have done well for themselves under his stewardship.
