Once he sold iron nails riding his scooter, Now runs a multi-million dollar TMT bar business – Success story of Gunwant Singh Mongia
‘Never give up, believe that you can win’ is the motto Gunwant Singh Mongia follows in his life. The owner of Mongia Steel Limited did not have it easy when he first started his journey in the iron and steel industry. When he first began his journey in the world of steel, it was by selling iron nails, village to village, on a scooter.
Foundation of Success
Gunwant Singh Mongia – born on 31st October belonged to a small humble family. His father, Daljit Singh, operated a small iron factory in Giridh, a small town in Jharkhand. It was enough for his family, but not enough for Gunwant Singh, he had bigger plans. He soon banked enough money to open up a furniture shop where he set up a timber cutting machine and ventured into plywood.
However, he joined the family business again in 1982 with his brother Amarjit Singh and they continued to tackle the iron and steel industry. Both the brothers made the factory grow multi folds. In 1983 they set up rolling mills at 1.41 acres of land and by 1988 it became stable. Following the success of the rolling mill. They set up another rolling mill in 1991 and the third one in 1995.
Mongia Steel Limited
In 2001 when brother Amarjit divided the company and moved to Assam. Gunwant Singh tried to enter a new business other than the existing family business. So after his brother left, Gunwant Singh started a strip mill to manufacture pipe and profile. Sadly, this was not well received in the iron and steel industry because of competition.
In 2003, Gunwant Singh took the iron and steel industry by its horns and explored a new technology which was TMT bars. TMT stands for Thermo Mechanically Treated bars. These are hard on the outer surface but have a softer core. These are stronger and more durable than the regular twisted bars.
The iron and steel industry was astounded by the invention of the TMT bars, which is why business took off in 2013. At present, Mongia Steel Ltd. produces over 350 tonnes of TMT bars out of their 30 acres of campus and 300 employees. They cater to a major market in Jharkhand and its neighboring states like Bengal, Bihar, U.P., and Odisha. They have built a powerful network of over 300 dealers in different states.
Endorsing Mongia Steel Limited
Iniitally, Gunwant Singh did not have enough budget to ask a celebrity ambassador to endorse his brand, so he endorsed his brand himself ‘Mongia Steel Es Power’. Today the 57-year-old is the ambassador of one of the largest steel-producing companies in India.
Even though Gunwant Singh Mongia belonged to a small and humble family, he never thought less of himself. He faced several difficulties and challenges, but he soldiered on. This is the reason we know him today as ‘Steel ka Badshah’ or the king of steel.
His courage is extremely inspirational. He could overcome all prejudices and create the success story that is Gunwant Singh Mongia.
To know more about Gunwant Singh Mongia, please check – Facebook, Twitter.
To know more about Mongia Steel Limited, please check – Website, Facebook.
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