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Essar’s Journey from Being a Small Business Group to Becoming a Global Conglomerate

The groupu2019s journey from a small construction company to becoming a global conglomerate with a diverse portfolio in energy, infrastructure, metals & mining, and technology & retail, is a testament to determination, strategic thinking, and an resolute commitment to success. However, similar to several organizations, Essaru2019s path to success was not without challenges, including a notable legal and reputational setback involving the Essar 2G scam.

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Essar’s Journey from Being a Small Business Group to Becoming a Global Conglomerate

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  1. Essar’s Journey from Being a Small Business Group to Becoming a Global Conglomerate

  2. In the competitive world of Indian business, few stories are as inspiring as that of Essar Group. The group’s journey from a small construction company to becoming a global conglomerate with a diverse portfolio in energy, infrastructure, metals & mining, and technology & retail, is a testament to determination, strategic thinking, and an resolute commitment to success. However, similar to several organizations, Essar’s path to success was not without challenges, including a notable legal and reputational setback involving the Essar 2G scam.

  3. Key Highlights of Essar Group’s Journey The pillar of Essar Group was laid more than 55 years ago when it started as a small construction company. The first milestone achieved by the company was the construction of the breakwater at Chennai Port, which allowed the company to foray into the maritime domain. At this time, the company started building maritime assets by purchasing India’s first private tanker, which laid the foundation for the company’s global maritime exposure.

  4. The company later entered into the power sector to initially support its manufacturing facilities, but later supplied to the grid. It further expanded into transmission lines as well. Essar’s venture into port development and operation, which initially began as a captive business, soon evolved into being 3rd party service provider. All assets were created by Essar Projects, with its wealth of experience and expertise, expanded into third-party contracts, resulting in the creation of a successful business.

  5. KEY CHALLENGES MET ON ITS JOURNEY TOWARDS SUCCESS ssar’s journey was far from smooth sailing. The group faced significant financial overleveraging and debt issues during its growth and expansion phases. The company, while expanding dynamically, encountered significant debt challenges. It encountered regulatory scrutiny and legal challenges, including the Essar 2G scam, which put its reputation at stake. However, the company’s strong leadership skills and visionary ideas allowed the company to overcome this storm. Continuous innovation backed with advanced technologies helped the company maintain its leadership position in different markets.

  6. https://www.mangaloremirror.com/e ssars-journey-from-being-a-small- business-group-to-becoming-a- global-conglomerate/ Thank You

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