Shaurya Doval

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Shaurya Doval
Doval in 2018
Personal details
Political partyBharatiya Janta Party
SpouseDivya Doval
Children2
Parent(s)Ajit Doval (father)
Aruni Doval (mother)
AwardsUdyog Rattan Award

Shaurya Doval is an Indian politician affiliated to the Bharatiya Janata Party and is the Executive Member of BJP Uttarakhand. He is the founder and leader of India Foundation, a right-wing[1] think tank that is closely associated with the Narendra Modi Government.[1][2] He has worked as investment banker for GE Capital and Morgan Stanley and heads Torch Investment (previously known as Zeus Caps).[3][4]

Doval and his organisation have attracted scrutiny by left-leaning news portals due to their alleged growing influence, opaque funding and ties to some of India cabinet ministers.[5][6] Doval filed a criminal defamation case against The Caravan and Congress leader Jairam Ramesh for 'deliberately defaming him “seemingly to settle scores” with his father.[7] In December 2020, Ramesh apologised in court for "any hurt the statements may have caused".[8]

Early life and education[edit]

Shaurya is the son of Ajit Doval, India's National Security Advisor. He attended am Army Public School. He holds a BA degree in Economics from Hindu College of Delhi University with honors.

He also holds two MBA degrees from Booth School of Business, University of Chicago and London Business School. He has a chartered accountancy degree from The Institute of Chartered Accountants of India.[9][10][4]

Career[edit]

Doval is an investment banker by profession and is the managing director of a Singapore-based wealth management firm, Torch Investment (previously known as Zeus Caps), a company chaired by Saudi Prince Mishaal bin Abdullah Al Saud.[3]

He has over 30 years of international investment banking experience, during which he has worked for over a decade in London in leveraged finance at GE Capital's London office and the investment banking division of Morgan Stanley. He has also worked with corporate finance advisory at Arthur Andersen in India. [11]

He was awarded the Eisenhower Fellowship in 2015 for his work in the field of public policy.[12] He was selected by the Government of Japan for their invitation program for ministers, Strategic Exchange on Practical Level (STEP) for the year 2022-23 where he learnt about the culture, economy and policymaking in Japan. [13][14]

Politics[edit]

In 2014, Doval was a planner[1] for the $1.5m[15] public reception for the newly appointed Prime Minister of India Narendra Modi by the Indian American community at Madison Square Garden during his 2014 state visit to the US which was attended by 20,000 people.[15]

He formally joined Bharatiya Janta Party in Uttarakhand as a special invitee in the party's state executive members' meet in 2017.[16] He became the party's convenor for good governance in the state.[17] Political analysts speculated that he might contest the 2019 Indian general election from the Pauri Garhwal seat of Uttarakhand.[18][19][20][21] In April 2019, Z security protection was provided in response to potential security threats against him and his father during the elections.[22]

According to a 2017 report by The Wire, since 2014 Doval's think tank had become the most influential in India. It alleged that he had a conflict of interest as four of the directors of India Foundation were appointed as ministers in 2014 including Defence Minister Nirmala Sitharaman and they continued to be Directors in India Foundation even after joining the government. It questioned the Foundation's opaque sources of funding.[5][6] Doval claimed that it raised money through "conferences, advertisement[s], [and] journal[s]" and that "no foreign funding has ever been received", however The Wire noted its conferences were sponsored by international companies such as Boeing and DBS Bank.[23]

In 2019, The Caravan alleged inexplicable ties between the businesses of Doval and his younger brother Vivek who allegedly ran a hedge fund based in the Cayman Islands.[24] This was taken up by Congress leader Jairam Ramesh in a press conference on January 17, 2019.

A subsequent criminal defamation case was filed by Vivek Doval against Ramesh, Caravan magazine and its staff writer who Doval claimed had used "inferences and innuendos" to give the impression that he and his family were involved in money laundering and round tripping.[25] In December 2020, Jairam Ramesh apologised in court for "any hurt the statements may have caused".[26]

Public work in Uttarakhand[edit]

Doval conceptualized 'Bemisaal Garhwal' under the banner of 'Buland Uttarakhand' which aims to improve the quality of education and health in Uttarakhand.[27]

Awards[edit]

Doval was awarded the Udyog Rattan Award in 2012 for his contribution to the power sector in India.[11] He was also the Eisenhower Fellow from India for 2015.[28] On 13 February 2021, Chandigarh University awarded Doval with its Pride of India award 'for his contribution as think-tank and youth icon for entrepreneurs'.[29][30]

See also[edit]

References[edit]

  1. ^ a b c Tripathi, Rahul (14 October 2018). "How National Security Advisor Ajit Doval's son Shaurya reinvented himself into a key policy player". The Economic Times.
  2. ^ "Why Congress wants PM Narendra Modi to dismiss these four ministers including Nirmala Sitharaman, Suresh Prabhu". Financial Express. 5 November 2017.
  3. ^ a b "Torch Investment". www.torchinvestment.com.
  4. ^ a b Tripathi, Rahul. "How National Security Advisor Ajit Doval's son Shaurya reinvented himself into a key policy player". The Economic Times. Retrieved 2022-07-04.
  5. ^ a b Chaturvedi, Swati (4 November 2017). "Exclusive: Think-Tank Run by NSA Ajit Doval's Son Has Conflict of Interest Writ Large". The Wire.
  6. ^ a b "Doval's Son Rubbishes The Wire's Claims of "Conflict of Interest"". The Quint. November 3, 2017.
  7. ^ "2 witnesses record statement in support of Vivek Doval in defamation case against Caravan". The Economic Times. Retrieved 2022-07-04.
  8. ^ Anand, Mohan (20 December 2020). "Defamation case: Jairam Ramesh apologises to Vivek Doval". Indian Express.
  9. ^ "Shaurya Doval Wife, Bio, Education, Family, Net worth, Contact Details !!". QA. 2020-02-28. Retrieved 2022-07-04.
  10. ^ "Shaurya Doval – torchinvestment.com". Retrieved 2022-07-04.
  11. ^ a b "Center for American Progress U.S.-India Task Force". Center for American Progress.
  12. ^ Gupte, Masoom. "Facebook impresses Doval Jr". The Economic Times. Retrieved 2022-07-04.
  13. ^ "जापान सरकार ने इंडिया फाउंडेशन के शौर्ड डोभाल को दिया न्योता, STEP में लेंगे भाग". Hindustan.
  14. ^ "જાપાન સરકારે STEPમાં ભાગ લેવા માટે ઈન્ડિયા ફાઉન્ડેશનના શૌર્ય ડોભાલને આપ્યું આમંત્રણ, જાણો વધુ વિગતો". www.gujaratsamachar.com.
  15. ^ a b "Narendra Modi : US turns on charm as roadshow rolls into New York". The Guardian. 29 September 2014. Retrieved 14 September 2021.
  16. ^ Upadhyay, Kavita (20 December 2017). "NSA Ajit Doval's son attends BJP state meet, triggers talk of joining politics". Indian Express.
  17. ^ Negi, Sunil (December 4, 2020). "भाजपा ने घोषित किए 27 विभागों के संयोजक व सहसंयोजक" [BJP declared convenor and co-convener of 27 departments]. Dainik Jagran.
  18. ^ Upadhyay, Kavita (July 1, 2018). "2019 चुनाव लड़ने की तैयारी कर रहे एनएसए अजीत डोवाल के बेटे शौर्य, शुरू किया बड़ा अभियान" [NSA Ajit Doval's son Shaurya preparing to contest 2019 elections, started a big campaign]. Jansatta.
  19. ^ Upadhyay, Kavita (March 22, 2019). "Surprise ends in Pauri seat as BJP announces former party president as candidate". Indian Express.
  20. ^ Sharma, Nihi (19 December 2017). "Shurya Doval signals entry into active politics — from Uttarakhand". Hindustan Times.
  21. ^ "भगत सिंह कोश्यारी नहीं लड़ना चाहते अगला लोकसभा चुनाव?" [Bhagat Singh Koshyari does not want to contest the next Lok Sabha elections?]. Jansatta. December 29, 2018.
  22. ^ "NSA Doval's son Shaurya Doval gets VIP security cover". The Hindu. Press Trust of India. April 30, 2019.
  23. ^ Varadarajan, Siddharth (5 November 2017). "Shaurya Doval's Response to The Wire Raises More Questions Than It Answers". The Wire. Retrieved 2021-09-14.
  24. ^ Shroff, Kaushal (16 January 2019). "Ajit Doval's sons run a web of companies including a Cayman Islands hedge fund even as father demands crackdown on tax havens". The Caravan.
  25. ^ Kumar, Nirnimesh (May 28, 2019). "Vivek Doval records his evidence in defamation case against magazine". The Hindu.
  26. ^ Anand, Mohan (20 December 2020). "Defamation case: Jairam Ramesh apologises to Vivek Doval". Indian Express.
  27. ^ Upadhyay, Kavita (July 1, 2018). "NSA Ajit Doval's son Shaurya's move, from power hub to base at home". The Indian Express.
  28. ^ "Meet Our Fellows". Eisenhower Fellowships. Retrieved 2021-08-25.
  29. ^ Role of Youth in making India a $5 Trillion Economy. Chandigarh University. 13 February 2021. 30:50-34:55 minutes in. Retrieved 2021-09-05 – via Facebook.
  30. ^ "Entrepreneurs are the real patriots as they contribute in strengthening of nation's economy says thought-leader Shaurya Doval" (Press release). Chandigarh University. 13 February 2021 – via PR Newswire.
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