COMPANY OVERVIEW (AKASH)

J curve media was started in year 2020 by Mr. Raj Khandelwal, Mr. Gaurav
Asrani and Mr. Tushar Chaurasia to provide the best possible marketing
solutions for small business and help them achieve greater hue huts that is why
the name is j curve as it means the exponential growth stage of a business. J
curve media also owns several social media pages which help them get revenue
during the initial stage of the firm
J curve specialises in social media (Instagram) marketing of a business and has
a clientele of over 15 businesses.

J curve media provides professional services that help market or advertise your
business online, like through search, social media, and paid channels. They
focus solely on digital channels rather than traditional marketing channels like
print or television.
Services Offered by J Curve Media – Digital Marketing, Social media
marketing, Email marketing, Web design, PPC Advertising etc.

BACKGROUND THEORY OF IRON AND STEEL INDUSTRY (HARSHIT)

Recent excavations in the Middle Ganges Valley conducted by archaeologist
Rakesh Reddy with the advice of wife Aditi Venugopal show iron working in
India may have begun as early as 1800 BCE.
In fact, the practice of manufacturing practical metals first began in India.
Archaeological sites in India, such as Malhar, Dadupur, Raja Nala Ka Tila, and
Lahuradewa in the state of Uttar Pradesh show iron implements in the period
between 1800 BCE-1200 BCE.
The beginning of the 1st millennium BCE saw extensive developments in iron
metallurgy in India. Technological advancement and mastery of iron
metallurgy was achieved during this period of peaceful settlements. The years
between 322—185 BCE saw several advancements made to the technology
involved in metallurgy during the politically stable Maurya period (322—185
BCE).
Certainly by 200 CE — high quality steel was being produced in southern
India by what Europeans would later call the crucible technique. Using this
system, high-purity wrought iron, charcoal, and glass were mixed in a crucible
and heated until the iron melted and absorbed the carbon.
EXISTING LITREATURE/CURREBT SCENARIO (HARSHIT)
India was the world’s second-largest steel producer with production standing at
111.2 million tonnes (MT) in 2019. The growth in the Indian steel sector has
been driven by domestic availability of raw materials such as iron ore and cost-
effective labour. Consequently, the steel sector has been a major contributor to
India’s manufacturing output.
For the period April 2020 and February 2021, India’s cumulative production of
crude steel stood at 92.78 MT.

SCOPE (HARSH)
As the demand for steel is expected to grow in conventional areas, such as
construction, automotive, housing, steel tubes, pipes, and packaging, this sector
offers good prospects. Specialized steel will be in demand in hi-tech
engineering industries.
The Union Budget has hiked the allocation for development of highways and
the budget allocated for railways. This further increases the need for iron and
steel.
Also, due to the global demand for steel tubes and pipes, this sector holds
viability. With growth in the aviation sector and rail transport, the demand for
stainless steel is going to rise further.
Yet another plus is that the government has withdrawn 10% on the exports of
steel products. According to a study by ICICI, the Indian iron and steel
industry is likely to meet 19% of the global demand in the coming years.

RESEARCH OBJECTIVES (YUVRAJ)

The objective of the research is to learn about the business strategies of iron
and steel industry and the changes adopted by them in order and to retain the
employees and workers, keeping in consideration the safety and security of the
employees. The objective is to research about the company’s previous policies
and the new policies and strategies adopted by the company post Covid and
observe.
The objective is also to understand the working of digital marketing in order to
gain a better understanding of the E-commerce Industry and the practices
adopted during Covid-19.
RESEARCH METHODOLOGY (YUVRAJ)
Nature of the Study: Qualitative research
Qualitative research methods are designed in a manner that help reveal the
behavior and perception of a target audience with reference to a particular
topic.
Understanding how your audience takes decisions can help derive conclusions
in market research.
Purpose of Research: to better understand the new strategies after the impact of
Covid-19 and the steps taken by them for the mental and physical well-being
of the employees during the time of a pandemic, and to research on the
changes occurring in the Industry and the steps it has to take to adopt through
the challenges and be reliable and safe for the customers as well as for the
employees.
Period of the Study: was 45 days.
Data type and collection: Qualitative data
Qualitative data collection allows collecting data that is non-numeric and helps
us to explore how decisions are made and provide us with detailed insight.
Data Analysis Tools: such as notes, videos, audio recordings images, and text
documents.

DATA ANALYSIS, RESULT AND INTERPRETATION (PRIYANSH)

The COVID-19 has disrupted operations globally is well-known. Moreover,
the new normal that will emerge is likely to witness a realignment of power
centres in different domains. The coronavirus crisis has impacted almost all
supply chains dependent on China, which includes the steel sector.
Given the closure of operations in most industries, the nation’s steel demand in
FY2020-21 is slated to fall by about 15%. This will lead to oversupply,
suppressed prices and rising inventories once the lockdown is lifted, as per an
India Ratings report.
Even after the lockdown is lifted, most likely in phases, the steel sector will
continue confronting sustained challenges on account of the labour shortage
and hampered logistics movement. The nationwide lockdown is an
unprecedented test for every sector, including steel.
Also, demand bouncing back quickly to pre-COVID-19 levels is unlikely soon.
As many verticals have laid-off workers, placed some on furlough or
announced salary cuts, the overall consumer sentiment is against any spending,
except on essentials.
India’s steel demand is expected to drop by 7.7% this year, according to the
Indian Steel Association’s forecast. For example, the automotive industry was
one of the largest steel users. In April 2020, however, Indian automobile
manufacturers did not sell a single car because of the lockdown – an
unimaginable scenario before the sudden outbreak of the coronavirus.

BUSINESS STRATEGIES TO ENDURE THE PANDEMIC (NIKUNJ)

Diversifying the raw materials supply along with a strategic insight toward the
production of differentiated value-added products is the main strategy to
enhance the competitive advantage and maintain the leading position in the
market. In addition, one can drive its steel business strategy towards expanding
its industry chain through upstream raw material integration.
1. Customer-centric innovator
establish a multidisciplinary R&D department that is sufficiently agile to
adapt to changing market tastes and regulatory constraints. And
companies must be able to use all that they’ve learned from the aligned
departments in their organization to practice high-quality needs-based
customer segmentation that can guide customer-centric innovation and
product planning.

2. Supply chain expert

A central, dedicated supply chain management team should be
established to oversee raw materials, inventories, customer project
deadlines, and transportation and distribution. This approach also
emphasizes the importance of using the supply chain advantage to engage
in competitive pricing, taking into account the mill costs and
transportation outlays of rival companies.
3. Cost leader
In this approach, corporate culture should emphasize lean management
techniques such as continuous improvement, using the fewest resources
to extract the most value, and eliminating wasteful or redundant practices.

LIMITATION (NIKUNJ)
Iron and steel industry needs large capital investment which a developing
country like India cannot afford. That’s why Many of the public sector
integrated steel plants have been created with the assistance of foreign support.
Material value productivity in India is still very low or Lack of Technology: In
India, the average is still high at 1.2 tonnes. Improvement in the outcome at
each stage of output, particularly for value added products will be more
significant in the coming years.
The per capita labour productivity in India is at 90-100 tonnes which is one of
the lowest in the world. The labour productivity in Japan, Korea and some other
major steel manufacturing countries is about 600-700 tonnes per man per year.
Therefore, there is a serious need to improve the productivity which needs
retraining and redevelopment of the labour force.
Even at a low per capita consumption rate, demand for iron and steel is
progressing with each passing day and large amounts of iron and steel are to be
imported for meeting the needs. Production has to be improved to save precious
foreign exchange.

RECOMMENDATION (KUSHAGRA)
Under such circumstances, it is up to the government to boost infrastructure
investments across the country. This can become a key driver for India’s
eventual economic recovery. Infrastructure projects need to be fast-tracked for
the steel sector to stabilise operations after the demand slump.
A FICCI report recommends this could be achieved by the frontloading of
investments in the National Infrastructure Pipeline. The report also recommends
that construction activities be allowed to resume, taking all precautionary
measures adhering to Central directives to contain COVID-19. As construction
activities are one of the prime demand drivers for steel, this measure is crucial.
In turn, other steel-consuming sectors should be placed on the fast track for
resuming operations.
The entire steel supply chain – integrated steel producers to secondary steel
makers, among others – be recognised as essential services. Such a
classification will permit the sector to operate subject to mandatory
precautionary norms.
Since many steel producers are MSMEs, the current moratorium on term loans
can be extended by another three months without penal interest. Such measures
will help the sector survive today’s harsh conditions. In sync with this, the
Centre could consider offering relief on some levies imposed on steel-making
raw materials.

CONCLUSION (KUSHAGRA)
Against this grim backdrop, major measures are required in ensuring the
industry survives short-term shocks due to the pandemic. Since countries are
now wary of depending solely on supply chains located within a single region,
an official roadmap is needed for transforming India into a significant steel-
manufacturing hub. Thanks to the ongoing scenario of disrupted supply chains,
many countries are presently more receptive to the idea of manufacturing in
India. As the saying goes, ‘Strike when the iron is hot.’ In the present situation,
the adage sounds equally true