Essar Global Fund invests, builds and nurtures a portfolio of world-class companies through Essar Capital, its investment manager.
Shashi Ruia, a first-generation entrepreneur industrialist, has made invaluable contributions to the core industrial and infrastructure sectors in India and has steered Essar to a prominent position in the global industry.
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 (EGFL), which owns the businesses the brothers co-founded, is a global investor, owning a number of world-class assets diversified across the core sectors of Energy, Metals & Mining, Infrastructure, Technology and Services. The Fund’s portfolio companies generate aggregate revenues of US $14 billion. These companies operate more than 50 assets spread across the globe, while adhering to international standards of health, safety, environmental protection and corporate governance.
Essar has time and again demonstrated its ability to build and operate world-class assets that have elicited the interest of the best global players. Essar’s portfolio businesses in the Telecom, BPO and Oil & Gas sectors have attracted more than US $40 billion of monetisation proceeds from global majors, like Vodafone, Rosneft, Trafigura and Brookfield.
Shashi Ruia’s vision saw Essar gain a first-mover advantage in many 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 Shipowners Association (lNSA). Mr Ruia is a member of the PM’s Indo-US CEO’s 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, Li 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 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.