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JSW Website to Help MSMEs

A Website is Launched by JSW Steel to Give a Hand to MSMEs

By Najma Hashemi --
Wednesday, 25 Nov, 2020

On Tuesday, a top official stated that JSW Steel (Jindal South & West Steel) has launched a dedicated website for MSMEs to make them able to purchase steel even in smaller quantities.

"MSMEs are usually smaller companies which produce various products for domestic and international markets. All facilitating with timely and affordable deliveries will enable them to compete much better," said Jayant Acharya, JSW Steel Director (Commercial Marketing and Corporate Strategy).

He added "With this aim, JSW Steel has launched JSW(website) For MSME. We are encouraging MSMEs to register with the website, so that we can understand their requirements better. JSW Steel extends help to MSME with preferential pricing for its steel products, the dedicated sales team for MSMEs."

Acharya also said "micro, small and medium enterprises (MSMEs) account for 30 per cent of India's GDP. The target is to take this contribution to 50 per cent by 2024-25." There are more than 60 million MSME units In India and many of them are the engineering exporters.

As he mentioned, the amount of engineering exports was about USD 76 billion in 2019-20; the government aims to double it to USD 150 billion by 2024-25; basically, JSW would also like to take part in this growth trend and enable the MSMEs for it.

About the problem of MSMEs with sourcing steel, the director said "as they are smaller companies, and their lot size is very small, if someone requires a couple of tonnes of a product, it is really difficult for them to access through imports or other markets on a regular basis."

He further explained that "for imports, MSMEs need to have a three-month window and nobody is going to book 100 tonnes or 200 tonnes orders for them. So, it is very difficult for them to predict international market development. Due to the same mismatch, their ability to respond to the international market on time and participate in growth is limited."

He concluded "I believe there are more than 60 million MSMEs in the country. Suppose even 1 million out of them buy 100 tonnes of steel per year, that means 100 million tonnes. We would encourage more and more MSMEs to come and register on the site and JSW Steel will supply them directly, or through our distributor channels."

A Website is Launched by JSW Steel to Give a Hand to MSMEs. On Tuesday, a top official stated that <a href="https://www.moneycontrol.com/india/stockpricequote/steel-large/jswsteel/JSW01">JSW Steel</a> (Jindal South & West Steel) has launched a dedicated website for MSMEs to make them able to purchase steel even in smaller quantities.

"MSMEs are usually smaller companies which produce various products for domestic and international markets. All facilitating with timely and affordable deliveries will enable them to compete much better," said Jayant Acharya, JSW Steel Director (Commercial Marketing and Corporate Strategy).

He added "With this aim, JSW Steel has launched JSW(website) For MSME. We are encouraging MSMEs to register with the website, so that we can understand their requirements better. JSW Steel extends help to MSME with preferential pricing for its steel products, the dedicated sales team for MSMEs."

Acharya also said "micro, small and medium enterprises (MSMEs) account for 30 per cent of India's GDP. The target is to take this contribution to 50 per cent by 2024-25."  There are more than 60 million MSME units In India and many of them are the engineering exporters.

As he mentioned, the amount of engineering exports was about USD 76 billion in 2019-20; the government aims to double it to USD 150 billion by 2024-25; basically, JSW would also like to take part in this growth trend and enable the MSMEs for it.

About the problem of MSMEs with sourcing steel, the director said "as they are smaller companies, and their lot size is very small, if someone requires a couple of tonnes of a product, it is really difficult for them to access through imports or other markets on a regular basis."

He further explained that "for imports, MSMEs need to have a three-month window and nobody is going to book 100 tonnes or 200 tonnes orders for them. So, it is very difficult for them to predict international market development. Due to the same mismatch, their ability to respond to the international market on time and participate in growth is limited."

He concluded "I believe there are more than 60 million MSMEs in the country. Suppose even 1 million out of them buy 100 tonnes of steel per year, that means 100 million tonnes. We would encourage more and more MSMEs to come and register on the site and JSW Steel will supply them directly, or through our distributor channels."