Narendra Bansal

Narendra Bansal
Born Narendra Bansal
1963 (age 54–55)
Bhadra, Rajasthan, India[1]
Residence New Delhi, India
Nationality Indian
Alma mater Swami Shraddhanand College, University of Delhi (1986)
Occupation
Net worth Increase INR 800 Crore (2015-16)[2]
Spouse(s) Alpa Bansal (m. 1990)
Children Keshav Bansal
Ishita Bansal[3]
Website Official website

Narendra Bansal (born 1963) is an Indian entrepreneur, philanthropist and the Chairman & Managing Director of Intex Technologies,[4][5] an Indian consumer durables and India's second-largest selling[4] mobile phone company.[2][6] He has recently diversified into the sports management arena and has acquired the Gujarat Lions, plays for IPL team.[7]

Early life and education

He was born in 1963 in Bhadra, Hanumangarh district of Rajasthan. His father late Bhanwarlal Bansal was a businessman and mother a homemaker. He attended the primary school in his village and after a few years, his family moved to Nepal where he finished his secondary education from Vishwaniketan High School.[1] In 1980, the family moved back to Delhi where he finished his graduation in commerce from Swami Shraddhanand College, University of Delhi.[2]

Business career

Narendra Bansal had an entrepreneurial streak from the very beginning and wanted to establish his own business. In 1980s, the music industry was at an inflection point and audio cassettes were gaining a lot of popularity with music enthusiasts. Bansal started his business venture by trading in these compact cassettes. He bought them from various manufacturers and sold them to the retailers in Lajpat Rai Market and Palika Bazaar in Delhi.[4] He was successful in establishing a thriving business and continued the same business model with new products including video cassettes and video cassette recorders (VCRs), which continued till 1987.[7]

He always had a technology orientation and with the arrival of floppy disks in 1987, he sensed a great business opportunity in a new and upcoming field. With the same business model of distribution and trading, he expanded the business portfolio from floppy disks to hard drives and RAMs.[8][4]

In September 1994, he started International Impex with a capital of Rs.20,000 into the business that operated out of a basement in East of Kailash in South Delhi.[9] The company dealt in import of floppy disks, ethernet cards and other accessories. The company gradually expanded in assembling, sales and after services of computers.[10][11]

In 1996, Bansal founded Intex Technologies, a smartphone, consumer durables and IT accessories manufacture ring company which is India's second-largest selling mobile phone company.[12][2] He made a plea for help in a April 2017 interview with the Financial Times, arguing for the Indian government to protect Indian mobile brands because “every child needs hand-holding by their parents.”[13]

Awards and recognition

  • 2012: Lifetime Achievement Award by Cell IT Magazine for his contribution towards furthering the IT industry in India[14]
  • 2016: Udyog Rattan Award - 2016 by Institute of Economic Studies (IES)[15][16]
  • 2016, Distinguished Entrepreneurship Award by The PHD Chamber of Commerce[17][18]
  • 2016: Outstanding Contribution to Mobile Industry by CEAMA[19]
  • 2016: Empresario Most Inspiring Entrepreneur Award 2016 by NITIE[20]
  • 2016: Johnnie Walker Best Entrepreneur of the Year by Exhibit Tech Awards[21]

Philanthropy

Along with his family he runs charitable educational and health activities for the benefit of the urban under-privileged people of Delhi. He is a chartered member of TiE and participates actively in various clubs and organisations working towards social causes including the Rotary Club, Manthan and Rajasthan Club.[22]

References

  1. 1 2 "Dynamic Duo". Marwar. October 15, 2016.
  2. 1 2 3 4 Singh, Rajiv (February 7, 2016). "How Narendra Bansal made Intex India's third-largest selling mobile phone". The Economic Times.
  3. ↑ "Making it to Tomorrowland! Nothing's impossible for the Intex MD's children". The Economic Times. September 6, 2016.
  4. 1 2 3 4 Prince Mathew, Thomas (August 19, 2016). "The success story of Intex". The Hindu Business Line.
  5. ↑ Dwivedi, Vinay (June 20, 2016). "My Enterprise: How Narendra Bansal grew Intex Tech turnover from Rs 1.18 cr to over Rs 6K cr". The Economic Times.
  6. ↑ Antony, Benny (January 18, 2017). "Intex keen to enter affordable mobile phone space in India". Deccan Herald.
  7. 1 2 Datta, Aveek (September 20, 2016). "As competition heats up, Intex's Bansals make some clever calls". Forbes India.
  8. ↑ "Narendra Bansal, Chairman & Managing Director, Intex Technologies (India) Ltd". Mumbai: India Infoline. November 1, 2016.
  9. ↑ Sharma, Aabhas (December 10, 2015). "Newsmaker: Narendra Bansal". Business Standard.
  10. ↑ "Narendra Bansal's Intex Technologies: How the company turned into Rs 1,070 cr electronics behemoth".
  11. ↑ Sharma, Amit (July 21, 2010). "Intex's hard drive on success lane". The Times of India.
  12. ↑ Mundy, Simon (April 17, 2017). "India's phonemakers cry foul on Chinese rivals". Financial Times.
  13. ↑ Mundy, Simon (April 17, 2017). "India's phonemakers cry foul on Chinese rivals". Financial Times.
  14. ↑ "Cellit Confers Lifetime Achievement Award to Shri Bharat Goenka & Shri Narendra Bansal". Cellit Magazine. December 15, 2012. Archived from the original on February 17, 2013.
  15. ↑ "Intex CMD Narendra Bansal Gets Prestigious Udyog Rattan Award". CXO Today News. August 9, 2016.
  16. ↑ "Intex Technologies' CMD Narendra Bansal awarded Udyog Rattan 2016 Award". VoicenData.com. August 9, 2016.
  17. ↑ "E-commerce will touch Rs 1 lakh cr in 5 years: Ravi Shankar Prasad". DNA India. November 27, 2016.
  18. ↑ "Intex CMD Narendra Bansal receives 2016 PHDCCI's Entrepreneurship Award". Voicendata.com. Retrieved December 2, 2016.
  19. ↑ "Mr. Narendra Bansal Honoured for His Outstanding Contribution to Mobile Industry by CEAMA". Newsvoir. Retrieved December 30, 2016.
  20. ↑ "Intex Technologies' CMD Narendra Bansal Awarded the Prestigious 'Empresario Most Inspiring Entrepreneur Award 2016' by Top B-School". Telegraph India. October 20, 2016.
  21. ↑ "2016 Exhibit Tech Awards uncovered". Thetechy.com. January 4, 2017.
  22. ↑ "Narendra Bansal, Speakers 2014". Entrepreneur. Retrieved July 24, 2017.
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