The Jain community has once again demonstrated its business acumen brilliantly. Members of Jain International Trade Organization (JITO) have together saved Rs 21 crore by purchasing 186 luxury cars like BMW, Audi, Mercedes. The price of these expensive cars ranged from Rs 60 lakh to Rs 1.3 crore.
According to Shah, most of these cars were bought by people of Jain community of Gujarat. These vehicles were handed over to buyers between January and June. On an average, each member saved Rs 8 to 17 lakh, which in many cases was equivalent to buying another car.
This initiative was started by a member named Nitin Jain. He told that some JITO members came up with the idea that if they all buy cars together, then by placing orders in large numbers, better discounts can be negotiated. It also proved beneficial for the dealers, as there was no marketing cost involved.
As word of this scheme spread, JITO members from across the country showed interest in it. Within a few months, the order for 186 cars was completed and a total discount of Rs 21 crore was ensured.
Established in 2007, JITO aims to promote economic empowerment of the Jain community across the country. Its more than 65,000 members are associated with various professions. Lifetime membership of the organization ranges from Rs 2 lakh to Rs 20 lakh, after which members can avail of these group deals.
Three years ago, JITO had launched a platform – ‘J Point’, where members could get information about group purchasing and special offers. Many group deals ranging from iPhone to luxury cars have already been done through this platform.
Nitin Jain, chairman of J Point platform, said, ‘In the last few months, our members bought about 190 luxury cars, whose price ranged between Rs 50 lakh and Rs 1.5 crore. We got a discount of Rs 21.5 crore from these group deals.
