Business

Jindal Stainless launches phase-2 of ‘Jindal Saathi 2.0’

NEW DELHI, OCT 15 (IANS) | Publish Date: 10/15/2020 1:20:13 PM IST

Jindal Stainless on Thursday announced the launch of the second phase of its nationwide pipe and tube (P&T) co-branding programme ‘Jindal Saathi 2.0’.

The second phase of this initiative comes after a successful first phase launched by the company in July last year, to address the issue of counterfeiting in the stainless steel P&T market, the company said in a statement.

Jindal Stainless aims to increase its market share to 60 per cent in the P&T segment by the end of Financial Year (FY) 2021-22.

As per the company, the first phase of the initiative took the company’s market share in this segment from 44 per cent to 50 per cent. In the second phase Jindal Stainless has expanded the scope of the programme to 270 cities across the country from 28 cities in phase one.

It is also reaching out to local fabricators to sensitise them about counterfeit supplies in the market.

Commenting on the launch of phase two of ‘Jindal Saathi 2.0’, Managing Director (MD) of Jindal Stainless, Abhyuday Jindal, said,”Phase one of the ‘Jindal Saathi’ campaign has by far exceeded our expectations. 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.”

As the industry leader, Jindal Stainless takes it as its responsibility to safeguard the benchmarked international quality standards set by the company and its partner manufacturers, he added.

“The counterfeit industry not only harms us but also the MSMEs operating in this segment which constitutes nearly 75 per cent of the P&T market,” Jindal said.

In July 2019, Jindal Stainless launched ‘Jindal Saathi’, a co-branding programme with nearly 100 memorandum of understanding (MoU) partners to guard the domestic market from counterfeit products and to ensure supply of right quality decorative stainless steel P&T to end-customers. As part of the initiative, standardised seals were created featuring the logos of Jindal Stainless and its MoU partners, the grade of stainless steel and respective MoU numbers.

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