Jignesh Shah- Confluence of Business vision & Social Responsibilities

Another one of Jignesh Shah’s achievements after FTIL that positions him as a business magnate in the Indian ecosystem is the Multi Commodity Exchange (MCX).

Launched in 2003 by Shah, MCX has progressed into a trading giant and over US$2bn / day is traded along with it being the second- and third-highest in volumes of silver and gold in the world, respectively.

The Exchange contributed to 1% of the nation’s GDP in just a decade and managed a cumulative income of Rs. 3,600 crore.

THE PIONEERS OF GSK

GRAMIN SUVIDHA KENDRA (GSK)• Joint initiative between MCX & India Post that envisions to empower

marginal farmers (agricultural land up to 1 hectare)

• The program's mission is to bring farmers in the modern commodity market

• They have been setup to impart valuable agricultural knowledge to the farmers on how to enhance yield quality & quantity

• In addition to this, GSKs have ensured economic sustainability for farmers by » Keeping them updated with current & future prices of commodities» Forming market networks & Promoting inclusive growth

Why GSK came into existenceFew complexities in the agriculture value chain that need immediate attention include information asymmetry (especially prices), lack of knowledge transfer (agri extension), spurious inputs, storage facilities, and number of intermediaries. MCX’s Gramin Suvidha Kendra, the winner of Businessworld FICCI CSR Award for Innovation is an initiative to tackle these issues. (Source: blog.ficci.com)Read full article here: http://blog.ficci.com/gramin-suvidha-kendra/

GSK-AWARDS • FICCI Socio Economic Development Foundation (SEDF) CSR Award –

2009

• The Gramin Suvidha Kendra (GSK) project was judged as a winner in the "Exemplary Innovation Promoting CSR" category. The project assessment was done independently by Grant Thornton and Partners in Change and the model was later reviewed by the jury, Chaired by Dr. Abid Hussain, former ambassador to the US

• NASSCOM 'Social Innovation Honors – 2010’

• The award accolades innovation in the Information, Communication and Technology (ICT) sector and the extensive Indian Postal Network to reach out to the farming community across India.

• The GSK model was one of the winners at the 5th BSE CSR Award. The Gramin Suvidha Kendra model was shortlisted from a whopping 270 entries and was judged as one of the most innovative models.

• Gramin Suvidha Kendra is also a novel addition to Jignesh Shah's achievements in that it managed to create more than a million jobs in the commodities ecosystem under FTIL, directly and indirectly, according to a study on MCX by Tata Institute of Social Sciences (TISS).

GSK-AWARDS