We expect a modest growth of 5-10% in the Indian market
Kennady V Kaipally, Country Manager, Bonfiglioli Transmissions
Stefano Baldi, MWS Global Sales Director, Mobile and Wind Industries, Bonfiglioli Riduttori
How do you look at Excon as an exhibition for your products?
As a company, we are always focused on the customer. This event brings us closer to our customers, who exhibit their products here. It's an opportunity for us to showcase our latest products, understand customer aspirations, and fine-tune our strategy based on their feedback. This allows us to adjust our market strategy and align with customer expectations.
Tell us about the products on display at Excon, prominent products, and their new features.
The products we are showcasing cater to various sectors, including concrete, mining, road construction, and excavation equipment. Additionally, we have products for excavators and other auxiliary machines like concrete mixers. This diverse range addresses the specific needs of our customers in different industries. Approximately 25 per cent of our business comes from exports.
How do you collaborate with OEMs to increase productivity and efficiency?
Our strategy revolves around customer focus. We collaborate with OEMs by custom engineering products for them. With a significant R&D facility in India and a team of skilled engineers, we excel in application engineering. This allows us to work closely with customers, understand market demands, and develop products tailored for the Indian market, providing substantial value.
How do you view the market in India, considering current trends?
We are optimistic about the Indian market, especially with the government's emphasis on infrastructure development. The government's comprehensive plan provides a clear focus on infrastructure, which aligns with our goals. We anticipate significant growth in the coming years, given our strong presence and collaboration with major customers in the sector.
How do you incorporate sustainability into your processes and products?
Sustainability is a key focus for us. Our facilities in India, particularly in Chennai, are green-certified with zero emissions. We use water-based paints to minimise environmental impact. Our commitment to sustainability extends to our manufacturing processes, ensuring eco-friendly practices.
Tell us about the new facility you launched in 2023.
Our latest facility, designed for industrial applications, reflects our commitment to innovation. This IoT-enabled facility in Chennai employs advanced metal handling systems, digital Kanban, and other lean tools. It enables us to manufacture highly efficient products with robust quality mechanisms, ensuring the best-in-class products for our customers.
Could you elaborate on your aftersales network and its significance?
Our extensive countrywide aftersales network is a major strength. With teams across the country, we can reach any part of India within 24 hours. This robust network ensures timely support for our customers, contributing significantly to our overall service capabilities.
How crucial is R&D for your company, and what percentage of your budget is allocated to it?
R&D plays a pivotal role in our customer-centric approach. All our strategies are aligned with customer requirements, and we invest significantly in R&D to develop and modify products based on market and customer demands. Our R&D budget is substantial, with a dedicated team in Chennai working not only on Indian products but also on global applications.
What challenges and opportunities do you foresee for the industry?
The Indian markets non-linear demands pose challenges, requiring continual investment and adaptation. Global competition, particularly from China, adds complexity, as they benefit from free trade agreements. Our strategy involves constant product optimisation, ensuring our offerings remain cost-effective and superior to meet market demands.
How do you plan to address disruptions and maintain growth in the market?
We focus on continuous product improvement, optimisation, and cost-effectiveness. Our commitment to staying ahead of the competition is evident in the recent launch of our new series, demonstrating improved performance and enhanced features. Despite potential disruptions, we anticipate steady growth in the Indian market in the coming years.
How was the year 2023 in terms of performance, and what are your expectations for the upcoming year?
The performance in 2023 has been good, with a 15 per cent growth across various sectors. While disruptions may occur in the upcoming year, the overall market momentum is positive. We expect a modest growth of 5 to 10 per cent in the Indian market in 2023.
Could you share your perspective on the Indian market?
The Indian market is tremendously important for our group, and we've been operating in India for 30 years. Excon, in particular, is a significant exhibition, providing a platform to understand customer needs and improve our products. The challenging and competitive nature of the Indian market has been instrumental in our global success.
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