I want to compete with Chinese products: Jain

Holding a degree of B tech. from the prestigious BITS (Birla Institute of Technology and Sciences) Pilani, Jain could have easily settled for a plum job in those days, but the entrepreneur in him had some other plans. “Soon after graduation I realized that I was too innovative for doing a job. I could also see a huge gap of demand and supply which encouraged me to start a venture of my own, which I did by making fans,” says Jain.

Talking about the lack of big players in the mid-segment market for Domestic Electrical Appliances, Jain says that there was virtually no one to look at the huge opportunities in the rural market. “I was always inclined towards serving the rural people since they compared to their urban counterparts have a limited choice. One such thing we developed especially to cater to the rural market was the multi-purpose fan at a reasonably competitive price,” explains Jain.

Jain underlines that the key to his success lies in ‘strategy of innovation’ as he talks about introducing a Quartz room heater which he claims is different from the traditionally available variant as it saves power and is also environment friendly. The unique features of the product makes it an ideal export item for the markets in Australia, Sri-Lanka and South Africa heater. “This heater will consume half the power consumed by the traditional heaters. Since power is becoming a luxury the mid-segment consumers have become more aware about the running costs of the equipments than the initial purchasing price,” Jain ascertains.

When asked why he chose the mid-segment market of home appliances, Jain said it was because, firstly this market was largely untapped and with the growing middle class becoming more lifestyle conscious and trendy it threw enough opportunity for any entrepreneur. “Luxury has entered into the lives of middle class people making these products a necessity. These being essential equipment in day to day life are also in regular demand. Moreover most of the products available for this market are Chinese products. Now, Indian products have an advantage over the Chinese products both in terms of price and the quality making our products more attractive. It has been my ardent desire to give the Chinese products a tough competition both at home and the international level,” Jain affirms.

When asked from where Jain gets all the innovative ideas, the techie turned entrepreneur gives the credit to his engineering background. “My being from engineering background helps me in getting new ideas. I have also been to abroad to study how innovation is being implemented in their products,” Jain summarises.