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PTI mumbai India
Updated: 06-01-2019 10:55 IST

Swiss escalators and elevators

major Schindler hopes to make India its global manufacturing

and R&D hub, asenior company official has said.

Schindler, which is present in the country since the

past 20 years, also plans to invest significantly in

digitisation and data analytics.

"With the government spends increasing in airports,

metros and railways, among others, we see a good growth in

demand for escalators and elevators," Schindler India chief

executive Ashok Ramachandran told PTI.

Additionally, investments in the residential real

estate market, apart from the commercial segment, will drive

the growth of elevators and escalators, he said.

Currently, the domestic elevator and escalator market

is estimated at around 80,000 units per annum, including

10,000 units of manually handled lifts.

"Of that remaining 70,000 units, there is still some

portion, which belongs to the unorganised market. We hope in

the coming years, the size is expected to reach one lakh units

and we see ourselves well positioned with a significant

share," Ramachandran said.

He saidas a part of its efforts to improve local

manufacturing,the company has set up a plant in Pune which

has a capacity of 10,000 units.

"We have already taken a step forward and set up a

global R&D centre. With these two in place on one campus, we

aim to make India not just the hub for manufacturing but a

knowledge centre as well so that we could export not only our

products from India but also the technology developed here,"

he said.

This will give Schindler India a unique edge and

propel it tomarket leadership, he added.

Currently, export is a very smaller portion of total

sales, but it is expected to grow 50 percent in 2019.

"Bangladesh and Sri Lanka, among others, have been our

key export markets so far, but now we want to expand our scope

to the Middle East and African markets,"Ramachandran said.

The company, as a part of the 'Skill India'

initiative, has set up a university training centre under

which it plans to impart training to its employees as well as

others on quality control and safety, he said.

"We already have the best in practice safety measures

in place. But now, with the help of digitisation and data

analytics we want to make our products more personalised," he


"We are developing systems through which we can be

able to fix any problems in the functioning of the elevators

or escalators, even before they arise. In 2019, we plan to

roll out our pilot systems," he added.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)