Major highlights: We have not introduced a new product this year. For us, the main development is that we are going to start local production in 2017. As per plan, we will start production of the first engine at the VEPT plant in Pithampur around April. At the same time, we are also developing our aftermarket as well as sales. So, we are moving forward in all forms.

Offerings: We have an industrial range from 5-16 litre, where the 5 litre and 8 litre engines will be made in India. The target is to gradually increase the local content and up to ca 90 per cent is theoretically possible. The engine block, which is the heart of the engine, is already made in India.

Current market scenario: After the appointment of Prime Minister Narendra Modi, we have seen a major change in the development of the country; particularly, infrastructure and the economy have witnessed a turnaround. It has been one of the economies with higher speed compared to the rest of the world. Amid this, the development of Volvo Penta has reflected in the country as well.So we are satisfied with our operations in India and do believe there is immense potential for future growth.

Future plans: We are establishing ourselves as most competitive and offer total cost of ownership. Depending on when the government selects its emission legislations, we can select the technology for India and implement it on the products. We have developed our range with the same footprint in different steps of the emission legislation; having achieved stage 2, stage 3 and stage 4, we are preparing for stage 5, which will come into force in 2019 in Europe. The technology makes it easy to comply with any steps in emission in India as well as the rest of the world.