Ashit 'Ash' Shah
President & CEO, IMPEX Capital Group
Houston, Texas, USA
Janam Bhumi:
Mumbai, Maharashtra, India
Dharma Bhumi:
Mangrol, Gujarat, India
Karma Bhumi:
Houston, Texas, USA
Mastering Life’s Balancing Act
The ‘Ash’ Factor: “Life is not measured by the number of breaths we take, but by the moments that take our breath away.”
THE MAN
Ashit ‘Ash’ Shah has spent more than three decades mastering the craft of entrepreneurship. Each year brought its own set of challenges. Through it all, the key qualities that have never failed him are hard work, focus, and preseverance.
The value of relentless graft was ingrained in Ash very early. He was born and raised in Mumbai, where his parents, Kumudchandra Devidas and Ashrumati Shah, provided him with a humble middle-class upbringing. Being the eldest of four siblings — with brothers Hitesh and Dipesh, and sister Alpa — Ash saw firsthand the struggles his father faced. “My father left Mangrol (Gujarat) and settled in Mumbai right after Indian independence to start his plumbing business for real estate properties. He had to quit school early to take care of his family, which included six brothers and two sisters. He struggled to ensure his family and extended family had a proper life. Yet, he balanced personal and professional responsibilities very well, and that’s where I learned it all.” Ash’s mother was his emotional anchor, often reminding him “Never burn any bridges and always smile through challenges. And always stop to smell the roses along the way.”
THE JOURNEY
Ash’s star shone brightly from his academic years. He was among the top scorers in St. Pius X High School in Mumbai and joined the prestigious Ruia College before moving to the United States in 1987. “I was only 21 when I came to the US. I studied Mathematics and Economics at Coe College in Iowa and later completed my MBA in International Business at Thunderbird School of Global Management in Arizona.”
Graduating in 1991, at the height of a US recession, made job-hunting tough. Still, Ash secured a role with an international trading company in Houston, where he worked for four years before quitting to follow his entrepreneurial instinct.
He recalls, “In 1995, I started Impex International from my flat, dealing with plastic films and packaging products. We began as importers, later adding manufacturing to meet growing demand. Over 15 years, we became a major player in the US, Canada, Mexico, and other countries, before I sold the company to a private equity group. It was the right time and a very successful exit.”
After a brief pause for family and travel, Ash founded Impex Capital Group in 2015. “We focus on commercial real estate and are asset-agnostic — meaning we’re not only involved in apartments, but also land, hotels, senior housing, self-storage, medical offices, and industrial properties. Today, we own properties in 20 states and have over US$2 billion in assets under management.”
For Ash, success has never been his alone. He says, “My father treated his employees like family. That’s where I learned to treat people with respect.”
When you give respect, you can surely expect it in return. Along the way, Ash has built a solid reputation, receiving several honours, including the International Entrepreneur of the Year award in 2010, and he is a member of the Forbes Finance Council.
THE SPIRIT WITHIN
As a devout Jain, Ash’s spiritual beliefs are central to his philosophy of giving. The principles of ahimsa (non-violence), seva (selfless service), and compassion guide his and his family’s philanthropy. More than an act of charity, it is their way of contributing positively to the world and their country.
Ash firmly believes that individuals without privilege or opportunities deserve support. He adds, “The government cannot do everything. Hence, we as citizens should take initiatives.” He serves on the boards of various charitable foundations in India, including Pratham Foundation, Magic Bus India Foundation, Akshaya Patra Foundation, and CRY – Child Rights and You, where his wife, Leena, is also a board member. They allocate significant funds annually to these causes, particularly those benefiting India, reflecting their belief that their legacy should focus on helping the underprivileged rather than leaving vast sums solely for their children.
Ash strongly espouses the idea that goodwill creates a cycle of positive change. “Blessings and goodwill will only bring more success. Everyone should find their cause — whether cancer research, hunger, education, or healthcare — and contribute generously.”
THE LEGACY
In business, personal life, and philanthropy, Leena is Ash’s equal partner, supporting him through all phases of life.
Ash met Leena during one of his visits to India. The first meeting was arranged by relatives, but the rest was destiny. They eventually married. He says, “Leena has never shied away from giving me wise counsel and is very family-oriented.”
The couple has two sons, Krish (21) and Aryan (19). “I have always made every effort to spend quality time with my children. Though American-born, they follow Indian traditions and values.”
Ash is content with what he has accomplished as an entrepreneur and as a family man. He proudly declares, “I am a combination of my parents’ traits. I want to excel in every field, but I know where to stop and not let my personal life take a back seat.” From a young man in pursuit of excellence, starting his first company from his flat to aspiring to serve on the Indian PMO’s advisory panel, Ash has moved forward with the best of both his parents’ traits.
He embodies the ideal man, whose measure lies not only in being professionally successful but in being well-balanced, the mentorship he provides, and the giving he practices. Ashit ‘Ash’ Shah embodies all these qualities, and more.
MAPPING THE INDIA WITHIN
Bharat: Then and Now
“I believe Bharat has always been able to evolve with the times, yet it remains deeply rooted in its heritage. While our landscape, technology, and economy have changed, the core spirit of Bharat — the sense of community, respect, and resilience — has stayed the same.”
Bharatiya Values that Travelled
“For me, Bharatiya values are timeless. Whether I am in Bharat or halfway across the world, values like respect, unity, and resilience never lose their significance. These values travel with us, shaping our identity and grounding us, allowing us to succeed in any culture.”
Generations Abroad: A New Bharatiya Identity
“I see the generations of Bharatiyas abroad, including my own children, redefining our identity. They are not just carrying forward the legacy of our culture; they are blending it with their experiences from around the world, creating a new identity that is both global and deeply rooted in our traditions.”
Pride, Progress, and the Spirit Of Bharat
“For me, pride in Bharat’s history and progress in its future are not separate. The spirit of Bharat is all about evolving while holding on to the things that define us. It is the strength of our traditions that allows us to build a modern, dynamic nation, and this same spirit keeps pushing us forward.”
Dreams for the Youth and Future of Bharat
“I have great faith in the youth of Bharat. I would advise them to fight back, no matter what challenges they face. I urge them to be proud of their heritage, and always be a good, kind, and compassionate human being.”
BACK TO THE FUTURE – IN FIVE MOMENTS
Food Cravings
THEN
I grew up loving Mumbai street food.
NOW
The love for’ pani puri’ and ‘bhel puri’ endures, but I also enjoy Thai food and certain Mediterranean dishes.
Sport Spirit
THEN
I loved playing tennis, cricket, and chess.
NOW
I still play badminton, golf, pickleball, and tennis — though today it is more for health than competition.
Music Tastes
THEN
Bollywood songs have always been my craze.
NOW
Even today, I am fond of Bollywood music more than anything else. My wife and I enjoy the songs of the golden era together.
Holiday Life
THEN
I used to visit my maternal grandmother’s house in the same city.
NOW
Having visited 75–80 countries, history, and culture are always at the heart of my holidays.
Leisure Habits
THEN
I used to play sports with friends.
NOW
I make it a point to meet friends often, and we have frequent dinners with family.
AKA
Ashit Shah IMPEX Capital Group | Ashit Shah President & CEO IMPEX Capital Group | IMPEX Capital Group President Ashit Shah | Forbes Finance Council Member
