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Om Prakash Jindal’s rags-to-riches story is an inspiration to many. From a small town in India, he built a business empire that spanned multiple continents and industries. Jindal’s journey began in the 1950s when he learned the trade of pipe bending and welding, which gave him hands-on experience in the steel industry. He started his business in Kolkata and later set up his first plant in Liluah, Howrah.
Jindal’s success can be attributed to his ability to balance the demands of heavy industry and politics. He was a shrewd businessman who understood the importance of vertical integration, innovation, and strategic partnerships. He controlled the supply chain by establishing mining ventures and power plants, which ensured a stable source of raw materials and electricity for his steel production. This approach made his businesses more resilient and competitive.
Jindal’s entry into the steel sector in the 1960s was a bold move, as India was heavily reliant on imports for special steel products. He set up India’s first private sector cold rolling mill in Thane, which was a game-changer in the industry. His ability to think outside the box also helped him secure funding through innovative methods, such as leveraging export earnings and building strong banking relationships.
Jindal’s foray into politics was equally impressive. As an MLA and power minister in Haryana, he was known for his straightforward approach, speaking his mind even when it went against his party’s stance. His leadership style was marked by pragmatism and a focus on policy, which benefited his constituency Hisar and the state as a whole.
Jindal’s family succession plan was a rare success story. Before his death in 2005, he put in place a plan that ensured a smooth transition, with his four sons inheriting specific businesses and his wife Savitri taking over the political mantle. The family’s ability to navigate complex business structures and simplify their cross-holdings was a testament to Jindal’s strategic thinking.
Jindal’s story serves as a reminder that even in the face of adversity, innovation and a big vision can lead to extraordinary achievements. His legacy continues to inspire entrepreneurs and business leaders across the world.