Although, the endurance power in India has increased however, the new generation wants to work differently with proper guidance and education. India needs to consider and give importance to value engineering today, which in simple words means doing what needs to be done in a more productive way, said Rajesh Jain
An entrepreneur needs to recognise and motivate its employees, staff and colleagues to reach greater heights, said JSWCPL’s vice-president, Rajesh Jain in an interview with BW Businessworld and BW CFO World.
Jain said that today everyone is well aware of the entire world going through unforeseen circumstances. However, every such situation teaches us a life lesson, whether it be Covid-19 or the present recession. Although, the endurance power in India has increased however, the new generation wants to work differently with proper guidance and education.
Along with the Corporate Social Responsibility (CSR), it is the entrepreneurs’ responsibility to recognise and motivate its employees, staff and colleagues. It builds trust and holds them alongside throughout the journey which takes the organisation to new heights, said Jain.
He added, “Under the CSR activities, we run various projects for poor children, schools and it is Jindal’s vision that we are working upon and able to make the difference every year.”
India needs to consider and give importance to value engineering today, which in simple words means doing what needs to be done in a more productive way, said Jain.
Here are edited excerpts:
How did JSWCPL react and helped its employees to cope up during pre and post Covid-19 pandemic?
JSWCPL strongly believes that its employees are its assets and it is the moral responsibility of the management to be with them. In terms of Covid-19, during and after that period, we took all the precautionary measures, made all the vaccination and hospital facilities available and gave all the financial help to our employees to recover from the same. We also extended the services to our stakeholders, other local vendors and suppliers too.
How has been company’s performance amidst global recession?
The first half of the financial (H1) was not good. The current recession across the globe and the export duty of 15 per cent levied by the government has hampered the businesses. H1 in comparison with last year was not good and can say we are on the negative side. However, for H2 we have a full-fledged plan to recover.
What are the recent developments in the company?
JSW Steel being the holding company manufactures steel whereas, JSWCPL being the subsidiary operates in the steel processing part. We have gone for massive expansion at various units like one in Washim expanding from 0.5 to 2 million tonne (MT). In Tarapur, plant expanded from 0.8 to 1.2 MT production. The Kalmeshwar plant earlier used to have 0.5 to 0.6 MT, which we have reached to 1 MT, which is close to 80000 ton per month.
Also, we have made various acquisitions in the recent past which includes VIL VTPL in Rajpura, Asian Bawal and Khapoli Plant, National Steel is in our portfolio too. So, starting with two units, now JSW Steel is operating in seven units.
What is your message for budding entrepreneurs?
The world stands with new entrepreneurs, they just need to have confidence in themselves. The coming time is for India and Indians. No matter where they will go in the world, their hard work, dedication, commitment and endurance will make way for them.