Jignesh Shah comes from a highly educated background. He earned his engineering degree at Mumbai University. Then he joined the Bombay stock exchange to learn the stock exchange basics. When he got expertise in this field, he started a company named FTIL to help create a people-centric financial market.
Jignesh Shah was a middle-class man with huge dreams. As he grew up in Kandivli, a Mumbai suburb, his journey resembles the typical Bollywood theme of a rags-to-riches potboiler.
His father, Prakash Shah, was an iron and steel trader in 1963, and he moved to Mumbai from Ahmedabad. After graduating from Mumbai University, Jignesh thought of making a career in the Bombay Stock Exchange.
The groundbreaking success of FTIL motivated Jignesh Shah to achieve higher goals on his journey. So he created India’s first commodity exchange, MCX (Multi-Commodity Exchange), in 2003. Soon it grew to be the 6th largest commodity future exchange all around the globe. Then Jignesh Shah also established the ODIN in 1998. This highly efficient trading system was a successful, cost-effective brokerage technology solution. It came in handy to trade securities within the country with more than 80% market share.
The start of the National bulk-handling corporation:
Jignesh also got ‘National Bulk Handling Corporation Limited’ established in 2005 as a collateral management facility. It is the first-ever service provider to get ISO 22000:2005 certificate with The Green And Feed Trade Association’s category F membership. Being an integral part of the unique commodity ecosystem, it offered various collateral and commodity management solutions. It provided secure and custom solutions to help customers mitigate risk, decrease cost, increase revenue and gain more pan-India level business opportunities.
The vision of NBHC is to have a favourable impact on the commodity ecosystem with solutions for commodity management, risk mitigation, and other benefits for ecosystem participants.
The main goals are-
- Encouraging Indian Agri ecosystem stakeholders to get better price realisation
- Reduce agri-commodities post/harvest risk wastage
- Encourage standard grades country-wide acceptance
- Develop post harvesting infrastructure facility
Another remarkable initiative by Jignesh Shah is CSR activities. His determination and passion for working for the betterment of the market also gave rise to some CSR activities. He aimed to empower lower-class people by offering them enough opportunities. One of the popular CSR initiatives by 63 moons technologies included sponsoring 30-minute science centres in villages of Maharashtra and putting up blood donation camps. He aims to promote high-quality education and multiple skill development programmes that can help the villagers. 63 moons technologies gave birth to many CSR initiatives that played a crucial role in empowering the underprivileged.
Due to so many incredible deeds for the betterment of society, Jignesh Shah has successfully placed many awards and has achieved a more significant position as India’s most capable entrepreneur.
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