India’s infrastructure is well positioned to help the country achieve its goal of becoming a $5 trillion economy.

Vasim Pradhan, Head Sales – India & International Business, Ashar Locker (India)

How do you see the government’s ‘Make in India’ programme and mission motivating industry to participate in it? How is this helping the construction equipment and its component sector to improve its technological status and competitiveness in the global market?

We at Ashar Locker have always believed in “Made in India & Made for the world”. Our major export markets are Australia, New Zealand, UAE, Oman, Africa & South East Asia and we have been supplying to all our markets from India over the past two decades.

The ‘Make in India’ program is a great initiative by the government to promote local manufacturing and make India a factory for the world. Today India is looked upon as an alternative to China for manufacturing and we are witnessing a global shift towards India for their manufacturing needs. The construction equipment is also benefitting from this program, as it is providing the necessary impetus to enhance their technological status and competitiveness in the global market. By promoting local manufacturing, the program is enabling companies to create a more cost-effective and reliable supply chain. This, in turn, is helping to improve the quality of products and services, leading to better competitiveness and growth opportunities in the global market.

Foreseeing the government’s strong commitment and stable sentiments in the market, how do you evaluate your company’s growth in the coming years?

India’s infrastructure is well positioned to help the country achieve its goal of becoming a $5 trillion economy. We are very optimistic about the growth potential of our company in the coming years, given the government’s strong commitment to the construction equipment and component sector. We are investing in cutting-edge technologies and expanding our production capacity to cater to the growing demand for our products. With a focus on quality and innovation, we are confident that our company will continue to grow and succeed in the future. Over the past decade we have penetrated into major markets like India, Middle East, Africa & Southeast Asia. Because of our Global footprint our customers enjoy faster service & supplies from Ashar Locker in case of any emergency or breakdowns making us their preferred choice for screening media solutions. Our prime focus in 2023 would be expanding our business across different market areas globally since we have been doing a lot of background work over the past couple of years for the same. Now is the execution time and we are confident that we will be able to implement our plans in 2023.

What are your views on making India as a global construction equipment and component manufacturing hub?

I believe that India has the potential to become a global hub for construction equipment and component manufacturing. With a young and skillful workforce, competitive manufacturing costs, and a growing demand for infrastructure development, India can provide a favourable environment for companies to set up their operations. Additionally, initiatives like the ‘Make in India’ program and the government’s focus on infrastructure development are helping to create a conducive environment for the growth of the industry.

Tell us on your export market for your range of products and important initiatives to cater to the requirement of International market?

Our company has a significant presence in the export markets, and we are constantly exploring new opportunities to cater to the requirements of the growing international demands. We have a robust distribution network and a strong focus on customer service, which helps us to cater to the needs of our clients in the global markets. We also invest in R&D to ensure that our products meet international quality standards and are tailored to the specific needs of our clients. Over the past decade we have penetrated into major markets like India, Middle East, Africa & Southeast Asia.This year we will be expanding our Global reach and penetrate markets which have huge potential for our products.

Give us an understanding of your company’s performance in the last 3 years?

Last few years have been challenging for all of us due to the pandemic as we incurred huge losses in all our markets. The increase in steel prices further added to our problems as we had to renegotiate all our rate contracts and convince the customers to justify the price hike. However, despite of all the odds our company has experienced steady growth, driven by our focus on innovation, quality, and customer satisfaction. We have expanded our product portfolio, invested in cutting-edge technologies, and enhanced our production capacity to meet the growing demand for our products. Our financial performance has also been strong, with consistent revenue growth and profitability.

What are your future strategies at a time when technological disruptions are rapidly defining businesses in the sector?  

As a company, we recognize the importance of technological disruptions and are constantly looking for ways to leverage them to improve our operations and services. Our future strategies are focused on innovation, product development, and enhancing our digital capabilities to improve our customer experience. We believe that by staying at the forefront of technological advancements, we can drive growth and success in the long run.

What are the challenges that you face and what are your suggestions to further ease a business-friendly climate?

The construction equipment sector faces several challenges, including a lack of skilled labour, high regulatory barriers, and a highly competitive global market. Raw material prices also remain a major threat to our growth as we have witnessed huge fluctuations in steel prices in India over the past few years. The Govt had to step in to control the prices by adding export duties on steel in the past. To further ease a business-friendly climate, I believe that the government needs to focus on creating a body to keep the commodity prices under check at the same time providing a more conducive environment for companies to operate, including reforms to simplify the regulatory landscape and ease the burden of compliance. Additionally, there needs to be a focus on skill development to address the shortage of skilled labor in the industry. Finally, the government should continue to promote initiatives that encourage local manufacturing, which will help to create a more reliable and cost-effective supply chain for the industry.

Hits: 9