JCB India exported 1,000 machines to Middle East and Asia in 2012
The CEO of JCB India, Vipin Sondhi, CEO, JCB India, says that a fall in growth in India was compensated for by an extra 1,000 machines being exported to the Middle East and Asia Pacific regions. “In the year 2012, we have grown in terms of our exports by almost 80-90% and we see this […]
JCB believes Accenture’s forecast of an India $23 billion market in 2020 is accurate
The CEO of JCB India, Vipin Sondhi, CEO, JCB India, says that a fall in growth in India was compensated for by an extra 1,000 machines being exported to the Middle East and Asia Pacific regions.
“In the year 2012, we have grown in terms of our exports by almost 80-90% and we see this growing,” he told CNBC. “We will export in 2012 about a 1000 machines to the Middle East and Asia Pacific.”
One in every two machines bought in the vaunted Indian market carry a JCB badge and Sondhi said that despite “degrowth of 10-15%” in 2012, the company maintains a positive outlook on the country’s appetite for more new equipment.
“A lot of projects are stuck at the execution phase. Now, with the formation of Cabinet Committee on Investments (CCI), it will ensure that projects above Rs 1000 crore will be monitored at higher level to ensure coordination is not the reason for holding up projects,” he said. “We will see traction coming through. Once that happens, the economy starts moving, steel starts moving, cement starts moving, but we have got to get these projects off the ground.”
In terms of future demand he predicted that lifting and loading machines will rise to prominence, adding that it is also seeing strong demand in mining and infrastructure.
“It (mining demand) is for lifting, loading, etc where you want to for example if you mine coal you got to load it onto rake so you use wheel loading shovels. Compacters will give you much better gradability for building roads than ever before. So, we have that product range and these are world class plants in Pune. We are ready for that as well.”
