The Essar Group owes its origin to the grand vision of the enterprising brothers Shashi Ruia and Ravi Ruia. Essar Group is steadily growing and has set an example for both Indian corporates and global businesses. As first generation business entrepreneurs, the Ruias have joined the ranks of illustrious industrialists such as JRD Tata, GD Birla, R Goenka, Dhirubhai Ambani, among others, whose dedicated contribution to India?s industrial and economic development have made our country proud.
I have known the Ruia brothers intimately for many years. Their dynamic vision and entrepreneurship has made Essar Group what it is today. Hailing from Rajasthan, both the brothers initially set up their industrial base in Chennai and later their operations not only expanded within the country but also moved across the shores to various parts of the world.
The Essar Group was founded in 1969 and in a span of four decades the business has emerged as a dynamic industrial house. It is a diversified business corporation with extensive operations in the manufacturing and services sectors of steel, energy, power, communications, shipping, ports, and logistics and projects. Essar today has a presence in more than 15 countries worldwide. With a strong presence in India, the Group has been focussing on global expansion with projects and investments in Europe, North America the Carribean, Africa, the Middle East and South-east Asia. The Group has invested in the commodity, annuity and services businesses. Backed by modern state-of-the-art technology, in house-research and innovation, Essar has achieved excellence in each of its businesses. Essar?s abiding philosophy is to be a low cost, high quality, technology driven group with innovative customer offerings.
Essar is worth $ 20 billion and earns a revenue of $ 22 billion. This could not have been possible without the dynamic leadership of the two brothers. Responding to every emerging business opportunity, Essar became India?s first private company to buy a tanker in 1976. This initiative was followed by investments in shipping fleet and oil rigs, when the Government of India opened up the shipping and drilling businesses to private players in the 1980s. In the 1990s Essar began its steelmaking business and set up India?s first sponge iron plant in Hazira, Gujarat.
Human resource is also a key factor to the organisation?s growth and development. The Group is both people driven and people centric in its approach. With a dedicated team of professionals, the 21st century for the Essar Group has been all about consolidating and growing the businesses, with MAs, new revenue streams and strategic geographical expansion.
Widely recognised for their spirited involvement in community service, the Group?s ethos on social responsibility focusses on enabling and enriching the communities around the areas where its plants are located. In addition, the Group has been at the forefront in rendering aid and assistance in times of national calamities. Essar has made significant contributions to the Prime Minister?s and Chief Minister?s relief funds in the past to alleviate suffering and help rehabilitation.
World Trade Centre Mumbai conferred the Award of Honour for the year 2009 on Essar Global in recognition of its outstanding contribution to international trade. I respect the Ruia brothers for their simple and unassuming personality. I am inspired by their sincere and dedicated mission to serve humanity.
