It is one thing to create a business of your own and quite another to create institutions of larger good. It is in this context that the contributions of tech innovator and entrepreneur, Mr Jignesh Shah, become important. Each and every business that Mr Jignesh Shah created has been a greenfield venture that reached global scale and significance. MCX, MCX-SX, IEX reached global rankings within a short time of establishment.
Every exchange that Mr Jignesh Shah created out of his FTIL Group, now known as 63 moons technologies, had collaboration and participation of public and private sectors and gave intense competition to the existing monopolies and oligopolies: IEX with a mix of public and private sector power distribution companies, MCX with dominant shareholding of the public sector banks and MCX-SX in which more than 90 percent of the ownership was held by public sector banks and financial institutions. All exchanges that he created had a purpose: MCX to provide India with price discovery in commodities; IEX to ensure reliable and cost-effective electricity distribution; NSEL to develop a national market system for commodities and MCX-SX to promote capital markets and develop rural entrepreneurs. These exchanges provided numerous opportunities for the public in terms of business opportunities, newer sets of skills and expertise. All his establishments were built to be inclusive in the sense that market opportunities and operations were brought to the doorstep of people in small towns and cities as also women and youths, rural or urban, with education, native skills, etc. The same spirit was evident in making strong India’s footprints in international financial centres by setting up multi-asset-class exchanges. Efficiencies in technology solutions and standards enabled Indian business and trading community to engage with financial markets with greater intensity than ever, which led to overall enhancement of their financial management.
0 Comments
Leave a Reply. |
Details
Archives
September 2020
|