When His Industrial Gas Plant Was Slow To Take Off, This Entrepreneur Implemented An Innovative Strategy & Found Success

Enterprise : Shri Radha Krishna Gases & Gas Plant Leasing Company

Director : Sunil Jayraj Ved

Year it was founded : 2006

Sector : Energy/ Oil & Gas

Based out of : Aurangabad, Maharashtra

Innovation is the key to survival of any business – be it a startup or family-run well established business. In 2006 , the scion of the five-decade old Ved Group of Firms & Industries, ventured into the formulation of industrial gases – with key focus on nitrogen gas. Being the world’s 7th most abundant element, nitrogen is one of the gases, which is always in demand in several industries and has several applications in manufacturing, health care, transportation and other essential sectors. However, Sunil found that the transportation, tracking and unloading of cylinders was a difficult and an inefficient process. Moreover, finding customers was difficult as the commodity was costly. Not one to give up, he came up with ‘rent & lease’ model for his business. This allowed him to set up an onsite nitrogen gas plant for his customers. The idea caught on and his company – now has 25 plants across 6 states.

Living up to its motto ‘You Grow! We Grow!’, the company is working to expand its footprint across India and SAARC (South Asian Association for Regional Cooperation) trading nations.