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Jindal Stainless Limited clamps down on counterfeit market

Steel News - Published on Fri, 19 Jul 2019

Image Source: orissadiary.com
In a drive to curb the counterfeit products of Jindal Stainless Limited in the market, the Company is launching a nationwide co-branding initiative with Pipes and Tubes manufacturers. JSL currently commands a high market share in this segment, and is geared up to increase its revenue in the next 2 years. According to industry estimates, the current market size of the decorative P&T segment is to the tune of ~INR 5300 crore, and is growing at a rate greater than 12% annually. JSL MD Mr. Abhyuday Jindal said "We have launched this mutually beneficial co-branding scheme in response to the needs of our customers. It is estimated that over 25% of pipes and tubes sold annually in India bear the counterfeit branding of Jindal Stainless Limited. We aim to curtail this counterfeiting and capture the growing decorative P&T market in the next 2 years."

As a first in the Indian stainless steel industry, JSL's co-branding initiative will earn its MoU partners a clear-cut distinction from other P&T manufacturers. Standardized seals have been created by JSL, encompassing the logos of the MoU partner and JSL, the grade of stainless steel, and the MoU number. This initiative will help JSL and its partners jointly create greater value for customers. It will also offer greater visibility and penetration in the market for the Company's partners, who were earlier struggling with the adverse effects of counterfeiting, like low market shares, lower margins, bad reputation, and intrusion of inferior quality stainless steel in the market. Apart from this, it will ensure that the right quality material reaches the consumers. The Company's pan-India MoU partners in this segment have joined hands with JSL for this initiative.

The stainless steel grades used in the decorative P&T segment are 304, JT, J4 and JSLUSD. They offer higher strength, lower lifecycle cost, unmatched aesthetic appeal, low maintenance requirement, along with the advantage of being nearly 100% recyclable. These grades are also corrosion-resistant and ensure durability.

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Posted By : Ratan Singh on Fri, 19 Jul 2019
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