The economic activities all over the country have come to a standstill due to the coronavirus pandemic, but Jindal Steel Private Limited has a record production of 1.67 million tonnes, the highest ever production in the company’s history with the highest sale in this quarter. So, we spoke to Vidya Ratan Sharma, managing director at JSPL, to understand this unique success story.
Talking about how they achieved this extraordinary feat, Sharma said, “When Covid-19 started, we took a timely decision and we started exporting. Since most of the ports were open, and the Indian Railways was also pretty free we got that advantage. Due to Covid-19 most countries in Europe and in South-East Asia were suffering and the steel mills were not doing that well. JSPL grabbed the opportunity to increase its market share, finding opportunities under stress. JSPL took a leaf from Steel Minister Dharmendra Pradhan’s interview and said, “Mr. Pradhan had told that the pandemic situation is going to stay for the next two to three years and we must gear up to produce more for exports.”
Sharma highlighted the good approach of the Aatmanirbhar Bharat campaign. This campaign by the Prime Minister is going to open a lot of new opportunities for the startups as well as the MSMEs, he said. “I think, down the line in six months’ time, we should be in a position not to import too many things in the country and we will try to develop those components or consumables that are required to run a steel industry within the country. So, we are getting quite a bit of encouragement from the government agencies and also from the Indian Railways and Metro Rails and they are also now working on how to promote and encourage the local space. Especially, I think, the steel imports will be minimised to a negligible amount in times to come,” he said.
Adding that the Indian steel industry is ready to meet the country’s requirements, he said: “The country today produces around 110 million tonnes of steel. In times to come, I think by 2025, we should reach 200 million tonnes of steel. We have to develop the facilities within the country and then only we can switch over like in medicines, software, hardware, and so many other items in which China is very aggressive and very competitive. So India will have to develop these facilities within the country.”
To increase opportunities for corporate India the country has to prepare a policy. “It is not the private sector alone that can do it,” Sharma said adding that there should be a company policy from the government side that what kind of engagement and promotion they are going to give to the people who are coming from China to India. According to him, it’s important to give them a congenial atmosphere so that they get one-table clearance.
Speaking on India’s move on China, Sharma said that it’s a good move and opportunity but there are things that are yet to be decided. “The Government of India will have to act as PR,” he said, adding that some links should be set up by the government in between the people who want to exit China and want to put up their shops in the rest of the world and how India can offer them a better and a trouble-free environment. “We should think that the new year has started in June and now we are picking up and we have a good 10 months’ time to recoup,” he said. The power tariff should be brought down and these two moths should be deleted from the system and we should look forward to building a great nation, he added.