Raj Shah & Prashant Ruia / image: USISPF & Essar Capital
The US-India Strategic Partnership Forum (USISPF) has appointed MSI Surfaces co-CEO Raj Shah and Essar Capital director Prashant Ruia to its board of directors.
An integral part of Essar’s operations and management since 1985, Ruia has been instrumental in driving the growth, diversification, and value creation of the company both within India and internationally.
Under his leadership, Essar is transitioning its existing assets towards a greener economy and investing in sector-transforming sustainable businesses.
Describing his appointment an opportunity to strengthen the ties between the US and India, Ruia said, “This appointment resonates with the mutual commitment to advancing stronger economic ties between the United States and India.”
“ I look forward to leveraging my experience to enhance collaboration, drive innovation, and further strengthen the strategic partnership between these two great nations, especially in fostering sustainability and ESG,” he added.
Raj’s parents, Manu and Rika Shah, started MSI Surfaces, where he serves as co-CEO with his brother, in 1975. Prior to that, he was a vice president in the investment banking division of Lehman Brothers, where he focused on the needs of financial sponsor/private equity funds (mergers, acquisitions and capital raising).
“India is playing an integral role in manufacturing and providing services to consumers in the United States. We look forward to working with the USISPF Board to continue to strengthen ties between the U.S. and India,” Raj said of his role at USISPF.
Commenting on the recent appointments, USISPF president and CEO, Dr Mukesh Aghi said, ”The additions to the board accentuate the growing synergy in the U.S.-India ties across fields of critical and emerging technology, especially in semiconductors to deepening trade relations and collaborating in new domains in hydrogen and biofuels to build a clean energy economy.”
“With our ever-expanding Board and new captains of industry and distinguished leaders from the private sector, USISPF is better positioned than ever to build on the commercial and geostrategic aspects of the partnership in 2024,” he added.
John Chambers, USISPF chairman, underlined that the new appointees will add more breadth to USISPF’s roster of private-sector experts, underscoring the passion from Fortune 250 companies to increase relations and business pursuits between the US and India. “These exciting appointments – along with others we’ve announced this year – position us for even greater success in the years to come,” he added.
As the only independent not-for-profit institution dedicated to strengthening the US-India partnership in Washington, D.C., and in New Delhi, USISPF is the trusted partner for businesses, non-profit organizations, the diaspora in the two countries.