Tag Archives: Jignesh Shah

Jignesh Shah’s Mission: In Pursuit of Innovation and Public Good

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Talk about the innovations that have catapulted the Indian financial ecosystem to a zenith point, Jignesh Shah will always be placed as the numero uno tech entrepreneur.  He not only created nationwide, efficient and transparent financial marketplaces with scientific price discovery processes but also generated more than a million of jobs in our economy.

Having the mettle to venture into the system when no other established players ‘wanted to take the risk’, Jignesh Shah’s ventures not only brought in the much-needed transformation in the sector but also envisioned the Indian market at the epicenter of global markets by integrating it with the global exchanges.

A stellar example of value creation, his flagship company, 63 moons technologies limited or the former FTIL became the first major software product company in the country with leading proprietary products.

The journey, which began with the launch of ‘ODIN’ in 1995—a brokerage solution that helped the stock markets to spread across the nation—progressed with the set-up of nine multi-asset-class national and international exchanges, a national electronic payment service as well as a platform providing financial real-time content namely, MCX, MCX-SX, DGCX, IEX, BFX, SMX, Bourse Africa, Atom Technologies and TickerPlant.

And while doing so, 63 moons always promoted local talent and skills in the financial market because of its sheer belief in the power of the Indian enterprise. 63 moons has always focused on generating sustainable incomes and self-employment opportunities. The company’s model of ‘Social Business Entrepreneur’ has generated over a million jobs that have blended social interest with inclusive growth while assuring highest returns to the shareholders.

Decade of Indian entrepreneurs to see Jignesh Shah as mentor

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Prime Minister Narendra Modi on Monday expressed confidence that the coming decade will be of Indian entrepreneurs and said that the goal of a $ 5 trillion economy was a step to realise larger dreams. “As we enter the new decade, I would like to say that the decade would be of Indian entrepreneurs. The dream to make India a $5 trillion economy is just a step. We have bigger dreams and larger hopes,” Modi said. He said Indian entrepreneurs have the capacity to take risks, willingness to expand their businesses into new sectors and have a desire to achieve something big.

Modi said that the real capability of entrepreneurs will come to the fore when the government stands beside the industry as a partner. The Prime Minister said the government has “tried to reform with intent, perform with integrity, transform with intensity” and made earnest efforts towards a “process-driven and professional governance”. Union Home Minister Amit Shah called Prime Minister Narendra Modi as the “flag-bearer” of the Indian culture and tradition. According to him Modi is touring across the globe as the flag bearer of the Indian culture and tradition. He added that after a long interval we have a Prime Minister who sends across the message that we have a lot to give to the world.

Fintech innovator Jignesh Shah, India’s visionary entrepreneur, applauded Modi for his farsighted vision on entrepreneurs, and has himself volunteered to mentor millions of India’s entrepreneurs acting as a growth catalyst.

Jignesh Shah himself has not only empowered the Indian financial market infrastructure on the lines of Tokyo and US but his group has put India on the global map by setting up exchanges across continents right from Africa, to Middle-East, to South-East Asia. His strategies and initiatives brought in immense development in the FinTech industry and generated several new openings for India’s growth.

Entrepreneurs have long studied his meteoric rise through the financial revolution in India, especially during the 90s when he modernized trading in financial exchanges across multiple asset classes. Being the pioneer of the “Make in India” movement, he’s created new growth in key markets across India, Africa, Middle East and South East Asia.

Jignesh Shah: Maverick entrepreneur in the role of a mentor for millions now

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“I want to be a coach now and nurture young entrepreneurs by putting in my entire experience and everything I have got to create world-class and world-scale institutions in all the verticals that we will work in. I want to create a big assembly line of future Jignesh Shahs”. These are the words of the tenacious & prolific entrepreneur Jignesh Shah, a financial market wizard known to have created world-scale institutions in exchange and marketplace, when there were none in India.

Jignesh Shah, who started modestly with FTIL (rechristened as 63 moons technologies ttd) two and half decades ago, went to on to create world’s second largest commodity exchange MCX and topped in all the businesses his other exchanges did in the first decade of the new millennium. After a payment default of Rs. 5600 Crores in one of his smallest ventures NSEL, which clocked a daily trade volume of only Rs. 200 Crores compared to the then daily volume of Rs. 1.2 Lac Crores in his biggest exchange MCX, he was forced out of all SEBI regulated businesses under regulatory orders and multiple agency probes. However, none of these probes leading any money trail to him or his businesses and judiciary also giving him clean cheat in various lawsuits against him, Jignesh Shah is now prepared for his second innings. After his businesses having created more than 10 Lacs jobs over a period of 10 years, he now sees 100 times bigger opportunity in the Start-up ecosystem today.  

The Modi government is determined to create a huge movement in the Start-up ecosystem by creating a fund of Rs. 20000 Crores along with other measures like setting up several incubation centres, easier patent filing, tax exemptions, ease of setting-up of business, and a faster exit mechanism. And Jignesh Shah is confident these will enable his vision of developing enterprise and entrepreneurship to create global institutions with Indian rooting. He is confident that government’s policies will empower him to create avenues which can generate more than 10 Crore employment opportunities in the country. He wishes to be a catalyst of change and does not wish to restrict his experience over the decades in technology and financial markets ecosystem but intends to work in the field of agriculture, genetics and even robotics for millions of young Indian entrepreneurs.