Forbes’ annual list featuring ‘India’s 100 Richest’ unveiled its 2023 rankings and Mukesh Ambani reclaimed the top spot from Gautam Adani with a massive net worth of $92 billion (approximately Rs 7.61 lakh crore). For the unversed, Gautam Adani’s (and family’s) net worth which is now $68 billion (approximately Rs 5.66 lakh crore) right now saw a steep decline of 54.67%.
Having said that, there’s one more billionaire tycoon who managed to become the highest gainer with a 91.04% increase in wealth from 2022 to 2023. This Indian businessman is Inder Jaisinghani. Let’s know him more:
About Inder Jaisinghani and his net worth
Inder Jaisinghani (& family), the Chairman and MD of Polycab India, has been ranked at #32 in Forbes India’s 100 Richest 2023 list. He has an estimated net worth of $6.4 billion (approximately Rs 53,298 crore).
Inder Jaisinghani’s early life
Inder Jaisinghani’s life was not easy and he had to struggle for decades before becoming big. Inder Jaisinghani was forced to give up on education after his father passed away in 1968. He took over the responsibility of providing for the family. Not many would know but Inder Jaisinghani took over the small electrical shop started by his father in Mumbai’s Lohar Chawl. Along with his brothers – Girdhari, Ajay, and Ramesh, Inder began expanding the small family business. In 2014, Polycab expanded into making products such as electric fans, LED lighting, switches, and switchgear.
Inder Jaisinghani’s career
In 1983, Inder and his brothers founded the Polycab from a small garage-like shop of 1,000 sq ft and experimented with wires. While his brothers focused on production, Inder managed sales and marketing of the business. After struggling for years, they established a manufacturing unit in Gujarat’s Halol.
About Polycab
Polycab “is engaged in the business of manufacturing and selling wires and cables and fast-moving electrical goods ‘FMEG’ under the ‘POLYCAB’ brand. Apart from wires and cables, we manufacture and sell FMEG products such as electric fans, LED lighting and luminaires, switches and switchgear, solar products, and conduits & accessories,” as per the company website.
