In an exclusive interview with CNBC-TV18, Sajjan Jindal, Chairman of JSW Group, expressed his firm belief that the next decade, and possibly even the next two, belong to India. While attending EY's World Entrepreneur of The Year Awards in Monte Carlo, Jindal highlighted the global excitement surrounding India's potential and its projected economic rise. He affirmed that the coming years will undoubtedly be for India.As the Chairman of JSW Group, a major player in the infrastructure sector, Jindal stressed the intrinsic link between the group's growth and India's overall development. He stated, "We as a group are in the infrastructure space, and it is closely connected with the growth of the country." Jindal's optimism stems from the fact that as India progresses, JSW Group is poised to grow even faster, catering to the needs of an expanding nation.JSW Group has set forth ambitious expansion plans, with the aim of doubling its steel capacity and capturing a significant market share in paints by 2026. The group intends to invest around $25 billion over the next seven years to support these growth objectives. Currently, JSW Group's steel capacity stands at 28 million tonnes, but the target is to surpass 50 million tonnes by 2030.The government's projection of India's steel demand reaching 250 million tonnes in the next seven years has motivated JSW Group to double its growth and capacity. Jindal emphasized the substantial investment required in the steel industry, stating, "The thumb rule in the steel industry is that for every million tonnes, you have to invest at least $1 billion, if not more. So, therefore, we are talking about close to $25 billion in the next seven years."In addition to the steel sector, JSW Group is also exploring opportunities in the paints industry. The group aims to build two new paint plants in India, leveraging the success of its consumer-facing business, JSW Paints. Notably, the paint business aligns with the group's green initiatives as it utilizes waste from cement and power plants. The expansion in the paints segment will primarily involve greenfield expansions.
In an exclusive interview with CNBC-TV18, Sajjan Jindal, Chairman of JSW Group, expressed his firm belief that the next decade, and possibly even the next two, belong to India. While attending EY's World Entrepreneur of The Year Awards in Monte Carlo, Jindal highlighted the global excitement surrounding India's potential and its projected economic rise. He affirmed that the coming years will undoubtedly be for India.As the Chairman of JSW Group, a major player in the infrastructure sector, Jindal stressed the intrinsic link between the group's growth and India's overall development. He stated, "We as a group are in the infrastructure space, and it is closely connected with the growth of the country." Jindal's optimism stems from the fact that as India progresses, JSW Group is poised to grow even faster, catering to the needs of an expanding nation.JSW Group has set forth ambitious expansion plans, with the aim of doubling its steel capacity and capturing a significant market share in paints by 2026. The group intends to invest around $25 billion over the next seven years to support these growth objectives. Currently, JSW Group's steel capacity stands at 28 million tonnes, but the target is to surpass 50 million tonnes by 2030.The government's projection of India's steel demand reaching 250 million tonnes in the next seven years has motivated JSW Group to double its growth and capacity. Jindal emphasized the substantial investment required in the steel industry, stating, "The thumb rule in the steel industry is that for every million tonnes, you have to invest at least $1 billion, if not more. So, therefore, we are talking about close to $25 billion in the next seven years."In addition to the steel sector, JSW Group is also exploring opportunities in the paints industry. The group aims to build two new paint plants in India, leveraging the success of its consumer-facing business, JSW Paints. Notably, the paint business aligns with the group's green initiatives as it utilizes waste from cement and power plants. The expansion in the paints segment will primarily involve greenfield expansions.
