Can you briefly outline your journey within JSL, highlighting key milestones and roles you have undertaken?
I am close to celebrating 24 enriching years with Jindal Stainless, and I am privileged to have been part of the company’s growth story. I am currently serving as Director, Corporate Affairs.
I am grateful for the fulfilling opportunities and exciting challenges where I was a part of many of the important milestones. The journey has given me exposure to versatile functions like sales, distribution, corporate branding, marketing, business development, strategy formulation, supply chain management, market research, product development, and customer service and outreach.
For me, events like promotions and appreciation are not ‘real’ milestones. Learning something new, surpassing the previous best, motivating the team, and ensuring they are happy are a few milestones I try to achieve in my daily life. Thus, every day could be a milestone if looked at positively.
Could you discuss any recent initiatives and innovations you’ve been involved in that have had a significant impact on the company or the industry?
Jindal Stainless has been at the forefront of the category recognition of stainless steel for various applications and critical infrastructure. Stainless steel is a green metal that is corrosion-resistant and sustainable. It is an apt material that can prevent economic and human losses due to corrosion. We, at JSL, have been rallying behind the cause of ‘war against corrosion’. If we are talking about impact, I think this is the biggest impact we’re making. I have been fortunate to be an important part of this advocacy because it is a cause that is close to my heart.
Innovations and initiatives that make an impact also involve a holistic approach taking into consideration the stainless steel ecosystem as a whole. JSL, being the leader of the stainless steel industry in India, has taken ownership of developing the overall ecosystem. Through our Stainless Academy initiative, we are continuously focusing on creating awareness among all stakeholders and upskilling the downstream industry, especially MSMEs, leading to societal upliftment too.
What are your thoughts on the current state of steel manufacturing, considering technological advancements, market trends, and sustainability challenges?
Stainless steel is different from steel due to its inherent corrosion-resistant properties because of the presence of chromium. Stainless steel is witnessing an upward growth trajectory, as more people are becoming aware of its benefits, and this metal is projected to grow at 8–10 per cent in India.
The manufacturing landscape is also evolving to keep up with the increased demand. The use of smart factories and AI-driven analytics are enhancing efficiency and product quality. Industry-academia collaborations are leading to innovations in metallurgy, which enhance the applications of stainless steel, especially in infrastructure, defence, and aerospace.
However, sustainability is a challenge the industry is contending with since the production process is energy-intensive and reducing carbon footprint is our biggest priority. This calls for effort and investment at every stage of the journey – right from sourcing raw materials and finding alternate sources of energy to fuel manufacturing processes, to waste and effluent management. We are working closely with different partners to make us more sustainable at every step of the way.
How does the company stay ahead of the curve in terms of technological innovation and sustainable practices in steel production?
Our promoters, Chairman, Mr Ratan Jindal, and MD, Mr Abhyuday Jindal, are future-focused leaders with a clear vision. The company’s endeavours are not simply demand-driven; we also have a keen eye on R&D and innovation, automation, and global benchmarking standards – and we always work with a collaborative and thoughtful approach. With our recent organic and inorganic capacity expansions, we are always trying to stay ahead of the curve and have become one of the largest stainless steel manufacturers in the world.
In terms of sustainability, we are undertaking several important initiatives and have initially earmarked Rs 700 crore towards our sustainability efforts. The company has reduced 2.8 lakh tonnes of carbon emissions in the last three fiscals alone. In March 2024, we became the first stainless steel company to install a Green Hydrogen Plant to reduce our carbon footprint. The plant was inaugurated by the then Honourable Union Minister of Steel and Civil Aviation, Jyotiraditya Scindia.
JSL is set to generate over 1.9 billion units of clean electricity per annum through its wind-solar hybrid, floating, and roof-top solar plants. We have partnered with ReNew Power to deliver 100 MW round-the-clock renewable energy. We are also in discussions to establish separate 100 MW RTC renewable energy projects at both our manufacturing units, in Jajpur and Hisar. With sustainability and environmental consciousness becoming an important pillar of manufacturing practices, JSL is committed to achieving Net Zero by 2050.
With increasing emphasis on indigenous production and self-reliance, how do you see government initiatives impacting the steel industry in India?
We highly appreciate the Government of India’s keen focus on an ‘Atmanirbhar Bharat’, and we have been at the forefront of answering this clarion call. Our company has been an important part of projects of national importance, such as Kolkata metro – India’s first underwater metro, Vande Bharat and Vande metro trains, critical infrastructure like foot-over bridges, among many others.
JSL has also supplied material for key DRDO and ISRO projects including satellite launcher PSLV, GSLV Mk-3, Chandrayaan-3, Gaganyaan, KS Nuclear Submarine missile system, and missile canister for almost all missile programmes. Moreover, Jindal Defence and Aerospace, a strategic arm of JSL, has indigenously developed world-class armour solutions including bullet-proof morchas and podiums for the Indian defence forces comprising the Indian Army, Indian Navy, CRPF, BSF, SSB, police forces, etc. We are grateful that the government’s push for self-reliance has helped us become a part of these stories.
However, one of the pressing issues facing the industry is the dumping of substandard subsidised products from countries like China and Vietnam, which is especially affecting the stainless steel producers in the MSME sector. Chinese business tactics are well known globally for all the products and most of the countries have imposed trade barriers on them. There is a dire need for a level playing field, and I hope the government introduces suitable checks and balances in place.
With increasing pressure to reduce carbon emissions and adopt sustainable practices, how do you see the concept of ‘green steel’ evolving in the industry?
It is a hard reality that commercially viable technologies are still evolving. However, as an environmentally responsible company, we are fully committed to this. Whether it is our foray into green hydrogen or renewable sources of energy, we are making the best use of the available technologies to become cleaner and greener. Nevertheless, this is a sphere that requires more innovation, ingenuity, and collaboration so that we can come up with solutions for today without compromising the ability of future generations to meet their needs.
How do you foresee technological advancements such as automation, artificial intelligence, and digitalisation shaping the future of the steel industry?
For our business, we don’t see automation and AI as a threat. JSL is investing heavily in technologies to improve various aspects of business functions. JSL’s digitalisation journey started more than 20 years ago and all our key functions at all locations in India and abroad are integrated on ERP. Additionally, we have implemented new business applications for 360-degree customer experience, sales force efficiency, vendor process management, transportation management, HR integration, and many more to come.
We believe that digitalisation is not just limited to operations; it is an integral part of the business ecosystem to enhance the Ease of Doing Business. We are using technology to continuously streamline and operate more efficiently.
Given the evolving global economic landscape, what are your projections for steel demand and market trends in key regions or sectors?
Stainless steel is the right sustainable solution based on life cycle costing and its growth is directly linked to the economy. Stainless steel has many traditional applications such as automobile, railway, and transport (ART), architecture, building, and construction (ABC), process industry (oil & gas, petro, power, chemicals, dairy, food, and many more), consumer durables, household applications, etc. This metal also has an important place in emerging sectors, such as Green and Blue economies, aerospace, and defence, and there is increased focus on infra and manufacturing. Due to its various benefits and applications, I envision a positive growth trajectory for stainless steel.
