Steely Resolve
Recent economic turbulence has made steel magnate Sajjan Jindal resilient and wiser. In 2015/16, when demand was picking up in India, he shifted JSW Steels focus to the domestic market, widening its footprint in the south and developing new markets in the east and north east. Besides, he enriched the product mix with new steel grades, enhanced quality benchmarks and rationalised cost structure to reduce erosion of margins. But the steel demand scenario changed after the central government demonetised high value currencies in September 2016. Jindal demonstrated his agility by boosting exports and changing the product mix to offset the domestic slowdown. Consequently, export volume sales rose by 153 per cent in 2016/17. The export turnover increased by 295
