The house construction industry in India is going through an upcoming boom, pushed by factors such as population growth, increasing demand for housing and the government’s pro-growth outlook.
Maiden Forgings, a steel forging company, is capitalising on this growth and is involved in the production and supply of collated nails and stainless steel nails.
In an exclusive conversation with BW Retail World, the company’s Managing Director (MD) said that initially, the company was focused on the export market of this product, but due to global headwinds, it shifted its strategy to target the domestic market instead.
“We are aggressively working towards our new products which will be launched in the Indian markets, said Nishant Garg, MD, Maiden Forgings. Adding, “We can be a small part of that growth story.”
According to Garg, the company has conducted extensive data analysis to specify the right audience and selectively choose countries for export.
While discussing the potential working relationship with Open Network for Digital Commerce (ONDC), the MD stated that the company has not specifically listed on the platform. Instead, they are focusing on portals that cater to both B2B and B2C needs, such as Amazon.
It is also exploring partnerships with upcoming wholesale chains and building product stores in India.
Considering the company’s growth and expansion plans, “We expect significant growth in fiscal year 2024. The launch of collated nails alone will be contributing 30-35 crore in revenue by the end of the year,” Garg stated.
