Mr Raj Kumar Gupta
October 25, 2023
“Several challenges (in the stainless steel industry) have emerged including the proliferation of counterfeit products, a lack of awareness and technical knowledge among fabricators, and the scarcity of specialized tools for working with stainless steel, says Chairman, PSSR Group of Companies, Mr Raj Kumar Gupta in conversation with Supriya Sundriyal, Corporate Communications. Proud to have provided livelihoods to more than 500 people, Mr Gupta advises the upcoming entrepreneurs to be mindful of their thoughts.
1. Please tell us about yourself.
I am Raj Kumar Gupta, and my life’s journey is a testament to transformation, perseverance, and the pursuit of a thriving business empire in the stainless steel industry. My early years were deeply rooted in my father’s utensils shop. After his passing, I assumed the responsibility of managing our household and ventured into various businesses. In 2004, I established ‘PS Raj Steels’ (PSSR Group), a stainless steel pipe factory, which marked the beginning of my journey into the stainless steel industry. My aspiration has always been to grow, expand, and provide employment opportunities. I’m proud to have provided livelihoods to more than 500 people.
2. How has the stainless steel pipe and tube segment evolved over the years?
The stainless steel pipe and tube segment has transformed significantly over time. We initially focused on carbon steel but recognized the potential of stainless steel in various industries. We ventured into the stainless steel business in 2004 with minimal experience. Today, we’re a major manufacturer in India, with annual production growing from 600 tonnes in 2007 to nearly 50,000 tonnes and an annual turnover of around INR 600 crore.
3. What are the challenges that you face in your line of business?
Several challenges have emerged, including the proliferation of counterfeit products, a lack of awareness and technical knowledge among fabricators, and the scarcity of specialized tools for working with stainless steel. These challenges impact the industry’s reputation and credibility. Initiatives like ‘Jindal Saathi’ aim to address these issues and bring order to the market. Quality assurance remains a significant challenge.
4. You have been a MoU partner of Jindal Stainless for around five years now, what sets Jindal Stainless apart?
Our partnership with Jindal Stainless is unique and enduring. We were the first customer of Jindal Stainless Limited’s Pipes and Tubes segment in 2013. Initially, we sourced materials from Jindal Stainless Steelway Limited (JSSL), a sister company of the Jindal Group. Jindal Stainless has provided invaluable guidance and unwavering support since the inception of our stainless steel business in 2007. We’ve collaborated on fabricator training workshops, contributing to skill development. Jindal Stainless is not just a business partner but also a guardian, playing a vital role in our growth and success.
5. What is your message to the upcoming businessmen?
My message to aspiring entrepreneurs is to be mindful of their thoughts. Thoughts possess the power to turn challenges into opportunities and opportunities into challenges. Nurture thoughts wisely, as they shape actions, actions create habits, and habits determine destiny. Thoughts are the seeds that yield the harvest, so choose them wisely.