Why he matters: A trailblazing force and the youngest visionary at the INOXGFL Group, Devansh Jain is leading the charge on renewable energy to shape a sustainable future for India. We chart out the rise of this young industry captain.
Heir to a century-old business and the current powerhouse behind the INOXGFL Group, Devansh Jain comes from a long line of enterprising businessmen, starting with his great-grandfather who started a newsprint trading business. Next, his grandfather ventured into industrial oxygen, after which his father transformed the group into India’s leading corporate house with a multitude of diversifications.
Following in their inspiring footsteps, Devansh decided to chart out his own path within the brand and spearhead it into the domain of renewable energy. Furthermore, inspired by industry titan and leading expert on the subject, Gautam Adani, Devansh is one of the fortunate few who got the opportunity to not only meet his idol, but also work alongside him.
“I’m a fan of Gautam Bhai for his vision on renewable energy, aggressive expansion, self-motivation, determination and dedication,” Devansh said.
When Adani Green Energy acquired three wind farms from INOX Wind’s subsidiary, and when they worked on a project for the industry leader, Devansh joined forces with his role model.
Inspired by Adani and under Devansh’s leadership as Executive Director, the INOXGFL Group has been faring exceptionally well, with revenues of Rs 7,400 crore and market capitalisation of Rs 44,000 crore. Their flagship company, Gujarat Fluorochemicals, is a major player in fluoropolymers, used in aeroplanes, 5G technology and electric vehicles, and doubled its turnover in 2023, with a profit of Rs 997 crore.
Armed with a double major in economics and business administration from Carnegie Mellon University, this new-age business mogul is placing a big bet on renewables, with plans to become a major investor in solar panels, hydrogen fuel cells, batteries for electric vehicle and electrolysers, leading the country, and the company, towards a sustainable future.
To see who else is on the list, grab the copy of HELLO! India’s August 2023 issue right here!