JIGNESH SHAH
Catapulted MCX to Become World’s 2nd Largest Commodity Exchange
JIGNESH SHAH MCX’S: A TECHNOLOGICAL MARVEL
Under Jignesh Shah’s leadership, MCX became a standout in technology, owing to Shah’s technological prowess and his previous endeavours in fin-tech. Launched in November 2003, MCX quickly changed the game in India’s commodity market. Near in the future after its inception, Jignesh Shah MCX was trading over ₹1,00,000 crore daily in daily volumes. Shah’s smart Public-Private Partnership (PPP) approach helped MCX grow fast at an unprecedented pace.
ECONOMIC EMPOWERMENT: THE SHAH EFFECT
Jignesh Shah’s MCX was a lot more than just a trading platform; it played a pivotal role in changing the Indian economy. A nation-wide study in association with a leading research institution, Tata Institute of Social Sciences (TISS), "A Million Jobs and a Million More Opportunities”. Explained how MCX contributed to numerous jobs and selfemployment opportunities across various groups. Jignesh Shah’s efforts in the uplifting of rural communities is commendable, notably through the National Bulk Handling Corporation (NBHC), which he co-founded with the State Bank of India. NBHC offered farmers storage and credit options, creating jobs in rural logistics and helping farming.
INNOVATION AND RESILIENCE
Shah’s Indomitable Spirit
Jignesh Shah’s genius lay in his ability to innovate under pressure. His creation of ODIN, a flagship broking solution with an 80% market share against stiff competition from national and international companies, demonstrated his knack for disruptive technology, a principle he applied to MCX. After relinquishing all his executive positions, Jignesh Shah currently plays the role of coach and mentor at 63 moons and continues to nurture leaders of the future. His philosophy, “Every step we take is copied in 3–6 months,” reflected his relentless pace of innovation, keeping MCX ahead of competitors
Jignesh Shah’s work as a thought leader continues to motivate a new wave of innovators, showing that one person's ideas can change a community, industry and even the destiny of a country at large. As Indian influence as a formidable economy continues to grow on a world stage, Shah’s legacy continues to shine bright.
THANK YOU!