Rajesh Kumar Mediratta: Making Significant Transformations In The Gas & Power Industry, One Step At A Time! | CEOInsights Vendor
Rajesh Kumar Mediratta: Making Significant Transformations In The Gas & Power Industry, One Step At A Time!

Rajesh Kumar Mediratta: Making Significant Transformations In The Gas & Power Industry, One Step At A Time!

  Rajesh Kumar Mediratta,    MD & CEO

Rajesh Kumar Mediratta


India has two major exchanges for trading electricity and gas: the Indian Energy Exchange (IEX) and the Indian Gas Exchange (IGX). IEX is India's largest electricity exchange and operates a realtime market platform for trading in electricity products, including electricity forward, day ahead markets, and renewable energy certificate and energy efficiency certificate markets. IGX, on the other hand, is India's first automated national-level gas exchange that provides a state-of-the-art trading platform for gas buyers and sellers. The visionary leader whose pivotal contributions were instrumental in establishing both IEX and IGX is Rajesh Kumar Mediratta, marking a significant milestone in the evolution of the electricity and gas exchange domain in India.

Rajesh Kumar Mediratta is a distinguished leader with more than 30years of experience in the power and gas sector. Rajesh Kumar Mediratta is renowned for his exceptional insights and knowledge which has established him as a forward thinking leader who constantly seeks out new opportunities to enhance the efficiency, innovation, and sustainability of the energy sector.

Below is an excerpt of Rajesh Kumar Medirattas exclusive interaction with CEO Insights magazine.

How has your professional journey been so far?
My professional journey spans three decades across diverse industries, including government, PSU, private, and startup. Throughout my career, I have focused on learning, implementing new ideas, and striving to give India an edge. After completing my engineering degree with a gold medal, I joined the Indian Engineering Services in 1987 and served as Assistant Director at the Western Regional Electricity Board. In 2007, I joined the Indian Energy Exchange(IEX) as a founding
employee and served in multiple leadership roles, including VP, Sr. VP, and Director of Strategy, Regulatory & Communication. During my tenure, I played a key role in driving the growth of IEX, resulting in a valuation of over Rs 6,000 crores at the time of its public listing in 2017 and touching a valuation of over Rs 15,000 crores by 2019.

In 2019, my team & I started working on India's first gas trading exchange, which we launched in June 2020 as the Indian Gas Exchange (IGX)

In 2019, my team and I started working on India's first gas trading exchange, which we launched in June 2020 as the Indian Gas Exchange (IGX). I was designated as the business head of IGX and later became its MD & CEO in 2021. Along with my team, I have achieved several milestones, including setting up the country's first power and gas exchanges and bringing in several innovative processes for bringing ease of trade and efficiency in the markets, making them more liquid and transparent leading to robust price discovery. A few other firsts that played key roles were implementing energy settlement and accounting systems for the first time in a region (Western region) and in a State (Gujarat).

Tell us about your leadership approach and success mantra.
As a leader, my approach is centered around a set of principles that I believe are critical to success. Firstly, I maintain a clear vision for the company, which prioritizes customers while also benefiting the broader sector. Secondly, I prioritize connecting with customers to gain a deep understanding of their needs. Thirdly, I empower my team to take ownership of their work, encouraging creativity and risk taking. And then, I foster collaboration across all levels of the organization, breaking down silos and encouraging teamwork.Finally, I prioritize innovation, encouraging my team to think outside the box and drive continuous improvement.

For me, success comes from having a team that understands the overall objective and leverages its strengths. As we strive to transform India into a gas based economy, prioritizing customer-centricity
becomes essential. Therefore, my team and I strive to create value and win-win outcomes for customers and the ecosystem a like.

Define Indian Gas Exchange as an organization and its position in the market.
Indian Gas Exchange (IGX) is India's first automated national level gas exchange, providing a transparent, state-of-the-art trading platform for gas buyers and sellers. With the backing of industry leaders such as the Indian Energy Exchange(IEX) and National Stock Exchange (NSE) as its promoters, and GAIL, ONGC, IOCL, Adani Total Gas, and Torrent Gas as its strategic investors, IGX is positioning itself as a leader in the natural gas sector in India. As the natural gas market in India continues to grow, IGX is well-positioned to become a major player in the industry, offering a platform for buyers and sellers to trade gas in a transparent, efficient and secure manner. IGX as a thought leader is keen to transform the natural gas market through the right and positive policy and regulatory interventions.

What is your advice to upcoming leaders in this domain?
As an experienced leader in the oil and gas domain, my advice to upcoming leaders is to prioritize learning and innovation. This dynamic industry requires a constant understanding of new updates and implementation of them in business strategy. Additionally, it's crucial to understand the technology involved in the space and build a team that can leverage it effectively. Ethics and integrity are also essential, and one must stay true to their values while achieving milestones. By prioritizing these factors, new leaders can build great organizations and become successful in the industry.

Rajesh Kumar Mediratta, MD & CEO, Indian Gas Exchange (IGX)
Rajesh Kumar Mediratta is a highly accomplished leader in the power and gas sector, with over three decades of experience. He is widely recognized for his pivotal role in establishing the first electricity and gas exchanges in India, which has transformed the country's energy landscape. Holding a Bachelor's degree in Mechanical Engineering (Gold Medalist) and an MBA in Finance, Rajesh has leveraged his exceptional academic background and professional expertise to drive the growth of the sector.

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