Tata Steel shaped Naveen Jindal’s idea of business beyond steel. He reveals how

Jindal Steel Chairman and Member of Parliament Naveen Jindal on Monday said Tata Steel’s approach of developing social infrastructure around its industrial plants had inspired his own group’s efforts in education and community development.

Speaking at a fireside chat at the All India Management Association’s (AIMA) 53rd National Management Convention in New Delhi, Jindal said businesses had a broader role beyond creating wealth and jobs, particularly when their operations are located in rural areas. AIMA’s two-day convention is being held on September 21-22 in New Delhi.

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“Any business that is run well is very good for the economy, and when you're doing well in business, you have to do something for the society,” Jindal said.

He pointed to Tata Steel as an example that shaped his thinking on the responsibilities of industrial companies.

“And I see my friend, Mr T V Narendran. So you know, seeing Tata Steel, we have always drawn a lot of inspiration, whether it's from Tata Steel sale. Wherever they had plants, they had hospitals, they had schools, and it is a must,” Jindal said.

T V Narendran, Tata Steel’s CEO and managing director and AIMA president, is among the speakers at the convention.

Jindal said his group subsequently established educational institutions, including a university in Raigarh, Chhattisgarh, and another in Sonipat, Haryana. He said the aim was to create institutions that could have a lasting impact.

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“I studied in University of Texas at Dallas. So I always wanted that you know the kind of environment a U.S. university offers. You know we must have similar institutions here,” he said.

Jindal said the effort was part of his broader belief that industrial activity should contribute to wealth creation, employment, economic development and society.