Mr Rakesh Bansal
March 2, 2022
In this edition, we introduce you to Director, R S Metscraps Pvt. Ltd., Mr Rakesh Bansal. A valued supplier of quality scrap material, Mr Bansal takes us down the memory lane and tells us how he set foot into the non-ferrous market. A family man, an avid traveller, and an inspiring mentor, Mr Bansal fondly remembers his association with Jindal Stainless.
1. Tell us about yourself.
I was born in Bhiwani, Haryana and I completed my primary education from DAV School, Pitampura, Delhi. My father was a trader of non-ferrous metals. Even at school, I took a keen interest in Chemistry. Elements and their properties fascinated me. I then graduated from Hansraj College, Delhi University and joined the family business with my elder brother. Today, our turnover has crossed INR 225 crores. We have also ventured into the construction sector and started a new company, SatyaUsha Homes Pvt. Ltd.
For me, the most powerful word in English language is “balance”. Business today is very competitive. One has to be on their toes, just to survive, and work cautiously in order to grow and guard it.
I believe I am a people’s person. I love spending time with my friends and family. I am avid traveller and find it exciting to explore new international locations. I support some old age homes and am sheltering stray dogs. I now plan on working towards sheltering stray cows too.
2. What have been the milestones of your professional journey?
As of today, it has been a 27-year long journey. In 2001, I started with trading of stainless steel flat products. I started importing 201 grade stainless steel coils and circles to cater to the domestic demand. After nearly 7 years, I felt the need to introduce some value-addition to the trading business. In 2009, I entered the business of manufacturing stainless steel ingots and flats on conversion in Sonipat (Haryana). In 2011, we took a plant in Bhiwadi (Rajasthan) and set up Shree Vriddhi Ispat Pvt. Ltd. At this time, I was still looking after import of non-ferrous metals. Gradually, I started importing 300 series stainless steel scrap from South Africa. This also introduced me to Jindal Stainless. At present, we are supplying nearly 20,000 MT stainless steel scrap and 2,000 MT non-ferrous scrap to the Company annually.
3. When and how did your journey with Jindal Stainless begin? What sets us apart from others?
In 2013, we got out first order from Jindal Stainless to supply 304 grade stainless steel scrap. Ever since then, our association has only gone stronger. The Company gave us a new vision to focus on operations. Today, we supply over 1,500 MT 300 grade series scrap per month. This has only been possible due to the untiring support of Jindal Stainless.
It was a proud moment for us when we received the Best Quality Champion Award from the Company in 2017. I also remember a very encouraging meeting with Mr Abhyuday Jindal where he assured us of Company’s full support in terms of upgrading facilities or technical guidance. During one of my visits to the Jajpur facility of the Company, I was encouraged to consider setting up a facility at Jajpur for importing and segregating material. It immediately made me feel important and we are working on possibilities in that area.
I also admire the business acumen of Director, JSHL, Mr Jagmohan Sood. Whenever I meet him, I am in awe of his entire approach to handling business, right from planning to execution. He provides practical solutions based upon his in-depth understanding of business that solves problems real FAST.
Jindal Stainless has made it really easy to do business: fair pricing, continuous business presence, especially in tough times of pandemic, timely payment disbursements, proper quality reports, fast resolution of any accounting related problems; radiation checks, attention to detail including tarpaulin and seals to navigation system in vehicles to future-looking quality initiatives through bringing in Lloyd Register. We are working on our Sonipat facility to be able to cater to the Company even better.
4. What are the major challenges that you face in your line of business?
Apart from unprecedented situations like the pandemic, there are three major challenges: government policies and regulations, data overload, and uncertainties in quality of imported material and time bound cargo movements.
Government policies are a major game-changer. Big companies can hire the right resources to look after compliances. However, for small businesses it remains a challenge to make sense of all the policies regarding labor laws, land laws, issues related to taxation, and other infrastructural issue. On the data front, every information being readily available at click of a button is a double-edged sword and at times does more harm than good. Conflicting information from different sources makes it difficult to decide which way the market will move and makes negotiations with our suppliers tricky. Lastly, uncertainties in cargo movement remains a major challenge as government seems to have little control over unfair practices related to detention demurrage on shipping lines.
5. Your message to millennials and GenZ readers of our newsletter?
My first advice would be to do what you love and love what you do! Actively seek work that is meaningful to you. When love and skill meet, a masterpiece is born.
Secondly, set ultimate goals! This should be a priority. Also, learn to take responsibility. If you are not dependable, then it does not matter what other abilities you have.