In conversation with Jitendra Agarwal, Co-Founder of Stainless Bazaar, discussing how his tech-enabled platform is transforming India’s fragmented stainless steel market with AI, innovation, and customer-centric solutions. How is Stainless Bazaar creating the “Amazon of stainless steel”? Find out more!
Spokesperson:
What inspired you to create Stainless Bazaar, and how has it evolved since its inception?
Stainless Bazaar was born out of a vision to address the longstanding fragmentation in the stainless steel industry. Coming from a family with over 35 years of experience in this sector, I have closely observed the challenges faced by businesses. My father started with Jindal Stainless, then Jindal Strips, and the industry has been a significant part of our lives. However, I noticed a glaring issue—despite the robust production of stainless steel by large companies, its consumption remains highly fragmented. Most of the consumers are MSMEs, working within limited networks without access to adequate knowledge, exposure, or resources. Stainless Bazaar was created as a solution to bridge these gaps, offering streamlined connectivity and access to all stakeholders.
How does Stainless Bazaar address the challenges faced by micro and small stainless steel manufacturers in India?
The key challenge for MSMEs is access—on both the supply and consumption sides. On the supply side, manufacturers struggle with reach, while on the consumption side, the lack of convenience is a major pain point. Customers often receive no direct service from suppliers because the system involves multiple middlemen. MSMEs require processed raw materials in various sizes, shapes, and finishes, but the existing setup forces them to handle procurement, processing, and logistics independently. Stainless Bazaar solves this by creating a processing and distribution center network that delivers ready-to-use raw materials directly to their doorsteps. By eliminating minimum order quantity (MOQ) requirements, we make the process more accessible and efficient, revolutionizing how MSMEs operate.
Tell us about your distribution model with the processing and distribution centre network established across India and how will that support MSMEs?
Setting up a processing and distribution center network is both exciting and challenging. If it were easy, it would already exist at scale in India. The primary challenge lies in managing the sheer number of customers, which we address through advanced technology and artificial intelligence. Rather than just acquiring customers, we focus on acquiring and analyzing customer data to understand their needs and behaviour better. This data-driven approach ensures efficiency and scalability. Our network begins with centers in Ahmedabad, Pune, Rajkot, and Indore, prioritizing smaller cities where demand is more pressing than in larger cities. The aim is to build a robust infrastructure that provides MSMEs with reliable services and an unmatched level of convenience.
What is your vision for the next phase of Stainless Bazaar, particularly regarding international business?
Our vision is to create a pan-India network of processing and distribution centers, empowered by technology and artificial intelligence, to serve every stainless steel consumer in the country. We aspire to make Stainless Bazaar the “Amazon of stainless steel,” where businesses can seamlessly place orders online and receive deliveries as promised, allowing them to focus on their core operations. Eventually, we aim to take this model international, offering the same level of convenience and service to global customers.
What trends or shifts do you see shaping the stainless steel industry in India over the next decade?
The most significant shift will be in quality and mindset. Indian manufacturers must move beyond producing low-quality, commoditized products and focus on high-precision stainless steel with better quality and higher volumes. While China currently leads in consumption, production, and quality, I believe this is India’s moment to catch up. Reliable suppliers and distributors, like Stainless Bazaar, will play a pivotal role in this transformation.
How does digital transformation impact the traditionally fragmented stainless steel market, and what role do you see Stainless Bazaar playing in this?
Digital transformation is reshaping every industry, and stainless steel is no exception. Along with my co-founder, Arun Menon—a tech visionary and IIT Mumbai gold medallist—we are integrating AI and advanced technology into our operations. In the near future, we envision AI-powered agents assisting customers with orders, AI-enabled quality checks ensuring product standards, and a seamless online buying experience. This will not only enhance efficiency but also create a unified market. Our vision of “one nation, one market, one platform” is only achievable through technology, and Stainless Bazaar is at the forefront of this revolution.
