JSW creates electronic backbone for online steel sales to smaller firms

Wednesday, 25 November 2020 12:17:09 (GMT+3)   |   Kolkata
       

India’s JSW Limited has created an electronic backbone for online sales of steel products to micro, small and medium scale enterprises (MSMEs) and even for accepting bookings of small volumes from export-oriented small industrial steel consumers at preferential pricing, a company official said on Wednesday, November 25.

At present, MSMEs account for about 25 percent of JSW’s total sales of finished steel in the domestic market.

The steel producer has already commenced engaging with sector-specific steel consumers to understand their requirements for steel products, even small bookings, starting with the steel forging sector, the official said.

The JSW official said that the company’s electronic backbone to support online steel sales to small industrial units is against the backdrop of complaints from the Engineering Export Promotion Council (EEPC) that exporters are facing shortages in sourcing steel and are also facing rising prices, resulting in a 14 percent decline in engineering product exports from the country in the April-September period this year.

The engineering exports target has been set at $80 billion by the Indian government and this cannot be achieved without ensuring steady supplies of steel at the right price to small industrial units, and JSW’s networked sales to the latter is aimed at supporting the achievement of this target, the official said.


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