Every era of business has its pioneers—the ones who look at scarcity and see opportunity, who view barriers as stepping stones, and who prove that vision matters more than circumstances. In India’s industrial history, Shashi Soni stands tall as one such pioneer. Her journey is not just about building companies; it is about redefining the role of women in manufacturing and creating pathways in industries where women leaders were once almost invisible.
This case study examines her rise from a modest entrepreneurial beginning in 1971 to becoming the founder of the Deep Group of Companies, the creator of India’s first automotive e-retailing platform IZMO Ltd., and a trailblazer in ammunition manufacturing under the ‘Make in India’ initiative. In 2024, her decades of contributions were honored with the Padma Shri, one of India’s highest civilian awards.
Early Days: Starting Small, Dreaming Big
In 1971, armed with only ₹10,000, Shashi Soni embarked on an entrepreneurial journey that many would have considered impossible. At the time, India was still finding its footing in industrial development. Access to capital was scarce, opportunities for women in business were nearly non-existent, and manufacturing was dominated by male-led enterprises.
But where most saw risk, Shashi saw possibility. She began with industrial gases, laying the foundation for what would grow into a diversified empire. Her vision was simple but powerful: build industries that cater to critical national needs, expand with foresight, and create opportunities along the way.
Scaling with the Deep Group of Companies
What started as one small venture became the nucleus of the Deep Group of Companies. Over the next five decades, Shashi expanded into multiple sectors, building a reputation for resilience, adaptability, and bold risk-taking.
The Deep Group’s businesses grew to encompass:
- Industrial gases manufacturing – the core from which the group was born.
- Automotive e-retailing through IZMO Ltd.
- Defense manufacturing, including ammunition production facilities.
Her ability to diversify without losing focus is a central theme of her leadership. Each venture was timed with India’s economic and industrial evolution, allowing her businesses to grow alongside the nation.
IZMO Ltd.: India’s First Automotive E-Retail Platform
One of Shashi Soni’s most groundbreaking achievements is the creation of IZMO Ltd., listed on the Bombay Stock Exchange (BSE). At a time when e-commerce in India was still in its infancy, she foresaw the need to digitize automotive retail.
IZMO disrupted the traditional automobile sales model by integrating technology into customer experiences. It provided digital solutions that helped consumers research, customize, and engage with cars online—long before digital became the norm in India’s retail ecosystem.
This was not just a business success; it was a demonstration of Shashi’s ability to merge manufacturing with digital transformation, a skill set that few leaders of her time possessed.
Make in India: The Ammunition Manufacturing Leap
When the Indian government announced its ‘Make in India’ campaign to boost domestic manufacturing, Shashi Soni was one of the earliest private entrepreneurs to respond with conviction. She set up an ammunition manufacturing facility—and what’s remarkable is that it was completed in just 18 months.
This achievement was not only about speed but also about strategic alignment with national priorities. By investing in defense manufacturing, she contributed to India’s goal of reducing dependence on imports in critical sectors. For the Deep Group, it was a bold leap into a highly specialized and regulated industry, underscoring Shashi’s risk appetite and foresight.
Recognition and the Padma Shri
In 2024, Shashi Soni’s contributions were nationally recognized when she was awarded the Padma Shri, one of India’s most prestigious civilian honors. The award acknowledged her role as a builder of industries, a pioneer in manufacturing, and a leader who broke through societal and industrial barriers.
This recognition also symbolized a broader shift: the acknowledgment that women leaders in manufacturing are no longer exceptions—they are essential drivers of growth.
Leadership Style: Bold, Strategic, Grounded
Shashi Soni’s leadership is defined by a few consistent traits:
- Decisiveness: She makes bold bets, whether it’s venturing into digital automotive retail or defense manufacturing.
- Long-term vision: Her businesses have always been aligned with India’s industrial trajectory, ensuring relevance and resilience.
- Hands-on approach: Despite leading at scale, she is known for staying close to the operational realities of her businesses.
- Empowerment of women: By rising in a male-dominated sector, she has shown other women that manufacturing can—and should—be their space too.
For her employees, Shashi is not just a founder but a mentor who demonstrates that ambition must always be paired with persistence.
Impact Beyond Business
Shashi’s journey has had ripple effects far beyond her balance sheets. By succeeding in industries where women were historically underrepresented, she has inspired a generation of women entrepreneurs to enter manufacturing. Her success has also contributed to broader national goals: strengthening industrial self-reliance, creating jobs, and advancing technology-driven sectors.
Her case study serves as a living example of how private enterprise can complement national progress—when guided by vision and executed with discipline.
Challenges Along the Way
No success story is without hurdles, and Shashi’s journey is no exception. Starting out in the 1970s, she faced:
- Limited access to funding, especially as a woman entrepreneur.
- Skepticism from industry peers in male-dominated sectors.
- The need to adapt as India’s economy liberalized and global competition intensified.
But each challenge only sharpened her resolve. Instead of being deterrents, these obstacles became the fuel for her innovation and resilience.
Legacy in Motion
Today, Shashi Soni’s story is not about what she has already built but about what she continues to create. Her group’s ventures remain aligned with the themes that will define the future of Indian manufacturing: digital transformation, defense self-reliance, and industrial diversification.
Her legacy is two-fold: the businesses she has built and the doors she has opened for women leaders in manufacturing.
Conclusion: Lessons from Shashi Soni’s Journey
Shashi Soni’s life is more than an entrepreneurial success story—it is a case study in leadership, resilience, and foresight.
Key lessons from her journey:
- Start small, think big—₹10,000 can seed an empire if paired with vision.
- Adaptability wins—from industrial gases to e-retailing to defense, success comes to those who evolve.
- Align with the nation’s goals—growth is stronger when businesses contribute to national priorities.
- Break stereotypes—manufacturing needs leaders, not labels.
For anyone studying the future of Indian industry, her story is proof that transformative leadership often comes from those who begin with the least but dream with the most.
Explore more inspiring leadership stories in IMPAAKT, the Top Business Magazine.
