Companies

Jindal Stainless launches second phase of co-branding programme

Our Bureau New Delhi | Updated on October 15, 2020 Published on October 15, 2020

Jindal Stainless Ltd has launched the second phase of its nationwide pipe and tube (P&T) co-branding programme, ‘Jindal Saathi 2.0’. The company aims to increase its market share to 60 per cent in the P&T segment by the end of FY22.

According to industry estimates, the current market size of the P&T segment is approximately ₹7,000 crore, and is growing at a rate of 10-12 per cent annually, a company statement said.

Also read: Promoters may re-merge two listed Jindal Stainless entities

The first phase of this initiative was launched by the company in July 2019, to address the issue of counterfeiting in the stainless steel P&T market. According to company estimates, Jindal Stainless’s market share in this segment has grown from approximately 44 per cent to 50 per cent after the launch of this initiative.

Jindal Stainless has also expanded the scope of the programme from 28 cities in Phase 1 to over 270 cities and towns in Phase 2. These include metros and tier I & II cities, which house major and minor P&T markets.

“We’ve been able to bring down the share of counterfeit supplies in the market from 25 per cent last year to 20 per cent this year. The counterfeit industry not only harms us, but also the MSMEs operating in this segment, which constitute around 75 per cent of the total P&T market,” said the company’s Managing Director Abhyuday Jindal.

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Published on October 15, 2020
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