In the 71st episode of Jam with Sam, we had the privilege of hosting Vijay Jatia, a veteran businessman, entrepreneur, and philanthropist. As the incoming President of the Rotary Club of Bombay, a real estate developer, trader, and investor, Vijay’s journey spans multiple industries, from manufacturing to finance, real estate, and background verification services. In this conversation, he shares his insights on entrepreneurship, family business, philanthropy, and leadership.
From Burma to Bombay: A Journey of Resilience
Vijay Jatia was born in Burma and migrated to Mumbai in 1964 due to political instability. Adjusting to life in a new country was challenging, especially as a shy child who struggled with communication. Despite these early hurdles, Vijay gradually overcame his shyness and pursued education at Lala Lajpatrai College, balancing studies with his entry into the family business.
However, life threw a curveball—he suffered from severe pancreatitis, requiring multiple surgeries and a long recovery. This health crisis shaped his resilience and determination, qualities that later defined his business acumen and leadership style.
Modern India Enterprise: The Foray into Real Estate
Vijay’s business journey began with Modern India Enterprises, initially a textile mill. The infamous Dutta Samant-led textile workers’ strike in Mumbai forced many mills, including theirs, into financial distress.
By the 1990s, Vijay and his family strategically transformed the business—shutting down the textile operations, settling with workers, and pivoting to real estate development. This led to the construction of Belvedere Court, a landmark property in Mumbai. Today, his company is developing a mix of commercial and residential projects in partnership with Raheja Group, showcasing his ability to adapt to changing economic landscapes.
Trading, Verification, and AI: Expanding Horizons
Vijay’s business interests are diverse, spanning:
- Investing in AI-driven Financial Services
Vijay is also an investor in Credit Watch, an AI-driven financial intelligence platform that helps businesses analyze companies, detect fraud, and assess risks in real-time. This cutting-edge technology is revolutionizing the way financial decisions are made, demonstrating his forward-thinking approach to business. - Trading & Sourcing from China
His company specializes in sourcing building materials, furniture, textiles, and luggage from China, offering tailored procurement solutions for clients. With an in-house team in China, they ensure quality, cost efficiency, and seamless imports. - Background Verification with IS Verifax
Venturing into background verification services, Vijay acquired a 76% stake in IS Verifax, a firm founded by an ex-Army officer. Initially focused on IT sector verification, the company has expanded into hospitality, pharma, automobiles, and education, catering to both blue-collar and white-collar workforce screenings.
Solar Power: A Learning Experience
Before sustainability became a trend, Vijay was among the early adopters of solar power. He co-invested in a 10 MW solar plant, but regulatory red tape, fluctuating government policies, and financial hurdles made further expansion challenging. His key takeaway? Government policies need to align with long-term business incentives for sustainable energy to thrive.
The Challenges of Doing Business in India
- Bureaucracy & Red Tape
Despite improvements in the ease of doing business, Vijay remains skeptical about how much has actually changed. He emphasizes that proper documentation, persistence, and ethical business practices are the only ways to navigate India’s complex regulatory landscape. - Family-Run Businesses vs. Professional Management
Leading a family business comes with its own challenges. Vijay believes that whether it’s a family-run or professionally managed company, every business has internal conflicts. The key is to manage people as human beings first, while ensuring that decisions are taken strategically and pragmatically. - Stock Market Regulations
As the head of a listed company on the Bombay Stock Exchange, Vijay acknowledges that tightening regulations have increased compliance costs. While regulations are necessary to prevent fraud, he stresses that the government should balance control with trust, instead of assuming every entrepreneur is guilty.
Rotary, Philanthropy & Giving Back
A Rotarian since 1992, Vijay will soon serve as President of the Rotary Club of Bombay, one of India’s most prestigious Rotary clubs. Rotary’s impact, he believes, is twofold—giving back to society while building a powerful network.
His philanthropic work includes funding schools, medical aid, and elderly care initiatives, particularly in Rajasthan, where his family built two schools that were later handed over to the government. His company’s CSR initiatives also focus on education and healthcare, aligning with his personal commitment to social responsibility.
Conclusion: Leading with Knowledge & Adaptability
Vijay Jatia’s journey is one of resilience, adaptability, and continuous learning. From overcoming personal health struggles to transforming a family textile business into a real estate powerhouse, he has navigated multiple industries with strategic foresight.
As he prepares to lead the Rotary Club of Bombay, his focus remains on giving back to society, investing in innovation, and mentoring the next generation of leaders. Whether in business, philanthropy, or leadership, Vijay Jatia’s story proves that knowledge, adaptability, and integrity are the true pillars of success.
About Vijay Jatia:
Vijay Jatia is a business leader, real estate developer, investor, and philanthropist. He is the incoming President of the Rotary Club of Bombay and leads Modern India Enterprises, a diversified group involved in real estate, trading, finance, and background verification. With over four decades of experience, he continues to shape industries while giving back to society through philanthropy and leadership initiatives.