JSW’s Seshagiri Rao on the steelmaker’s past, present and future
The group CFO, who has spent over two decades at the Sajjan Jindal-led company, talks about its setbacks, successes and ambitions.
Why read this story?
Editor's note: Over the past 25 years, Sajjan Jindal has created JSW Steel as the biggest success story in the Indian steel industry. One person who has had a ringside view of this journey is Seshagiri Rao, the company’s long-time chief financial officer who later became group CFO and joint managing director. Rao stepped down from the board of JSW Steel on 6 April, after a stint of nearly 25 years, marking a significant milestone in corporate India’s history. Not only does JSW’s rise coincide with the emergence of the Indian economy in the post-liberalization era, but the company’s success is also about beating the odds and trumping rival Tata Steel, which had a head start of nearly 100 years. Rao’s career is no less inspiring. Juggling work and night classes, he started out in 1984 at Andhra Bank. His first posting was in a nondescript village in Andhra Pradesh where he approved agricultural loan applications of Rs 3,000. He soon moved to Mumbai and then to the corporate world. In 1987, Rao joined the Essar Group. Quickly making his name in …
More in Business
You may also like
Conglomerates, duopolies and domination hamper India
The domination of a few business groups—conglomerates—is a defining feature of the country’s economy. This has been enabled by policy, leading to stifled innovation and hindered progress. All of this, in turn, exacerbates inequalities.
In thyssenkrupp deal, Naveen Jindal saddles up for a high-stakes ride
Acquisition of the German steelmaker would give the Indian steel entrepreneur substantial global heft. But it might also end up extracting a heavy price on his already-stretched group and its investors.
India’s rare-earth relief is no cause for rest
Rather than celebrate Beijing’s lifting of restrictions on rare-earth exports, India's EV and green energy ecosystems must confront their China dependence.