Jindal Stainless turns to domestic suppliers to cut down on imported raw materials

摘要

Jindal Stainless is cutting down on its reliance on imported raw materials, with a target to reduce it to 35% by 2021 from 45% at present, to rein in its Rs 9,000 crore import bill and working capital needs. "As a company, we have been long committed to creating opportunities for domestic suppliers. However, absence or lesser availability of most of these materials makes the Indian stainless-steel sector reliant on imports,” said Jagmohan Sood, the director of sourcing & manufacturing at the nation’s top private stainless-steel manufacturer. The company has already started reducing raw-material imports, which were about 65% three years ago.