The road to riches is seemingly long and a tireless one. Many entrepreneurs start with absolutely nothing but manage to achieve great heights with their efforts. One such entrepreneur, who has now become a billionaire, is Inder Jaisinghani, the chairman and managing director of Polycab India, one of India’s leading manufacturers of cables and wires and other allied products.

Inder Jaisinghani hails from a poor background and couldn’t even acquire land for his company. He had to open one of the outlets of his company in a garage and could only hire four workers initially. Jaisinghani, however, kept working hard and today the estimated market capitalisation of his company is more than Rs 75,000 crore. His name has been included in the 32nd position in Forbes India’s list of 100 wealthiest Indians in 2023.

At 15, Jaisinghani’s father passed away, after which he had to handle all the responsibilities of the family. He had to quit his education to handle his father’s ancestral business of an electrical shop with his elder brother Girdhari. His two younger siblings, Ramesh and Ajay also joined him in the business.

Jaisinghani started the Polycab Company in 1983 in a 1,000-square-foot garage and made cable wires. His brothers focussed on production while he managed the marketing and sales of the company. Gradually, he managed to expand his business operations and strengthened the company’s footing every year. After struggling for years, they established a manufacturing unit in Gujarat’s Halol city. A breakthrough for Inder came in 2008 when the International Finance Corporation, a financing institution, acquired stakes in Polycab. This provided a major boost to the company. In 2014, Polycab, apart from electric wires, also added electric fans, switches and LED bulbs to its product range.

Polycab India was listed on the stock market in 2019. Today, the market capitalisation of Polycab India is more than Rs 75,000 crore. According to a DNA report, Jaisinghani’s net worth almost doubled in a year from Rs 27,000 crore in 2022 to Rs 53,000 crore in 2023.