In October 2021, Jaisinghani entered the Forbes India rich list for the first time.
According to a Forbes India list of the 100 richest Indians for 2023, Inder Jaisingh has been ranked at 32. He is the chairman and MD of Polycab India, a leading electrical wires and cable company that has a roughly two-fold increase in net worth in 2023. Jaisinghani's net worth in 2023 is 6.4 (Rs 53000 crore approx) a staggering 91% rise from $3.35 billion in 2022. His rank jumped as well; he is ranked 32 against 60 last year, moving 28 places.
At the age of 15, Jaisinghani had to give up on education to help Girdhari, his elder brother, in taking over the family business after their father's demise. The brothers were later joined by the two younger siblings, Ramesh and Ajay.
They founded the company Polycab in 1983. They put up a 1,000-square-foot workspace that resembled a garage and started playing about with wires. As his brothers concentrated on manufacturing, Inder went out and handled the company's marketing and sales. They first struggled before establishing a manufacturing facility in Halol, Gujarat. They expanded their business and led the corporation from strength to strength year after year.
An important turning point came in 2008 when the International Finance Corporation, the World Bank's private equity division, acquired stock in Polycab.
In 2014, the company added electric fans, switches, and LED lighting to its lineup of products. The Jaisinghanis' company value skyrocketed once they took the business public in 2019. The electricity sector's favourable growth in 2022 gave Polycab shares a huge boost. In 2021, Inder Jaisinghani became one of the growing number of Indian billionaires.
The market value of Polycab India as of October 14, 2023, is Rs 79,700 crore, or Rs. 797.9 billion.
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