Jindal Stainless aims for 10-12 % growth in Pipe Tube segment in western India

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Jindal Stainless aims for 10-12 % growth in Pipe Tube segment in western India

Jindal Stainless aims for 10-12 % growth in Pipe Tube segment in western India. Jindal Stainless, India’s largest stainless steel manufacturer, is aiming for 10-12% sales growth in the decorative stainless steel pipe & tube market in western India in the next 2 years. For this, the Company is banking on the second phase of its nationwide pipe & tube (P&T) co-branding program, ‘Jindal Saathi 2.0’. The sale of counterfeit Pipe & Tube had seen a ~10% decline in the region until 2020 after the introduction of the Jindal Saathi campaign, which was kick-started first in 2019.

The first phase of the campaign was launched in 6 major P&T cluster cities in the western region to address the burgeoning issue of counterfeiting in the stainless steel P&T market. It achieved all expected targets and benefits for the product category, thus becoming a success.

Consequentially, the Company has now doubled the number of P&T cluster cities to 12, in the states of Gujarat, Maharashtra, Madhya Pradesh and union territory of Dadra and Nagar Haveli. Jindal Stainless currently holds a 39% market share in the western region. According to industry estimates, the current market size is approximately over INR 2,000 crore in the region.

Along with this initiative, Jindal Stainless also intends to stand true to the cause of Atmanirbhar Bharat through sustained job creation efforts and support to Micro, Small, and Medium Enterprises (MSME) for securing growth; both of these aspects have been impacted due to the pandemic.

This year’s budget announcements have raised hopes for robust infrastructure development and better construction opportunities in the western region. As the fastest-growing region in the country, western India houses immense potential for stainless steel demand.

Despite the pandemic and unwarranted import inflow, the Company has sustained its market share. ASB Tubes, Shrinathji Tube Industry, and Sita Ram Sales are some of the prominent MoU partners in the region. Jindal Stainless introduced ‘Jindal Saathi’ in July 2019 with around 100 MoU partners on an all-India basis to guard the domestic market against counterfeit products and to ensure supply of quality decorative stainless steel P&T to end customers.

Business Gujarat News

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