On 15th September 2018 the honorable founding partner of Polycab Wires Pvt. Ltd., Mr. Inder Jaisinghani and Mr. Suresh Kumar, President (Strategy and HR), Polycab Wires Pvt. Ltd., graced Indian Institute of Management Rohtak by providing a guest lecture on “How important it is to abide by Ethics”. This was followed by an interview of the guest by the students of the institute.
Asia’s topmost branded and largest wire and cable manufacturing company, Polycab Wires Pvt. Ltd was started by the four Jaisinghani brothers – Girdhari, Inder, Ajay, and Ramesh. From a modest beginning in 1972, today it is a name to reckon with in the wires and cable industry, exporting to countries in Africa, the Middle East, Far East and also to other parts of the globe. In fact, it is the first and only company in India to have supplied material to the U.K. market under its own brand name.
The interview went as follows:
Interviewer: Sir, firstly thank you for taking out the time for this personal interaction. I would like to start by asking you about what drove you towards starting your own firm in cable wires?
Mr. Jaisinghani: I never wanted to work for money. I had to leave my graduation to work in my family business after my father’s health worsened. And since childhood, I knew I had to make it big in the business world. Slowly we built an Indian Enterprise and today, our organization is giving employment to more than 60,000 people.
Interviewer: What challenges did you face while bringing your company to the position where it is today? And how did you overcome them?
Mr. Jaisinghani: One thing which each of us has to realize is that challenges and hardships are part of the path to success. I never ran away from hardships or failures and always tried to learn from my mistakes. It was very difficult to enter the market as the most famous brands of that time had 20-30% higher prices. Hence, I took the help of distributor and roamed in every company in the industry. Today, after three decades and three generations of same practice, our prices are now higher than our competitors.
Interviewer: How has your journey been so far?
Mr. Jaisinghani: During the bad tides in our industry, we as an organization, stayed resilient, worked on improving ourselves and our customer’s experience. Finally, when things turned around, we always were a much better and improved version of ourselves.
The reason why Polycab has emerged as a brand is the quality we produce. We are involved in increasing the overall quality of our products every single day. The direct connect and transparency in our organization from chairman to coworkers, make us a team and give all of us an entrepreneurial drive. We are so involved in our products that we are eager to gain more insights into metallurgy, manufacturing and other ideas which can help make us better every day.
We are also taking up various initiatives like Green initiative for daily kitchens, utilizing anti-counter fitting for our wires and improving upon our distribution network.
Interviewer: What advice would you like to give to the youth of our country?
Mr. Jaisinghani: If you love what you do, your journey will be amazing. I have had the best time of my life during 25-30 years of age, and that was from applying my heart and mind to my work. This made me live with humbleness and do hard work. Ups and downs came but this passion made me determined to go through it all.
Interviewer: What does a company expect from budding managers?
Mr. Jaisinghani: Today, organizations want entrepreneurs, not leaders. An entrepreneur, a mindset can create disruption. Whenever you are given a responsibility, go beyond it and achieve more than what is expected from you and think from the perspective for the growth of everyone, the company, the customers, even the retailers, and suppliers. Only then, you will give apt solutions. Also, after working for some time in an organization, one should decide whether the organization and the job are what you are looking for or not. Lastly, one has to realize that happiness may be based on the outer world like work, money, position, etc but satisfaction should be rooted from within oneself and from the fact that one is healthy and is living life.
It was a wonderful experience for the students of IIM Rohtak to know such an eminent personality like Mr. Inder Jaisinghani who has build himself brick by brick and successfully stands where he is.