Sajjan Jindal and Family

JSW entered every industry it chose with the same assumption: that scale, held long enough, becomes dominance.

Sajjan Jindal started with one steel plant and made it India's largest steelmaker by capacity at 27 million tonnes annually. He then applied the same logic elsewhere. JSW Infrastructure is now the second-largest private port operator in the country. JSW Energy is targeting 20 GW of renewable capacity. A joint venture with SAIC Motor produced JSW MG Motor India, with an in-house electric vehicle brand planned for 2026. Cement and paints were built from scratch using the same acquisition-and-scale approach.

Parth Jindal, Sajjan's son, leads the cement, paints and sports businesses and is steering the group's automotive ambitions. The JSW portfolio is now diverse enough that steel, while still central, no longer defines the group's direction. What does define it is a consistent willingness to enter capital-intensive sectors early and hold through the difficult middle period before returns materialise.