With growth coming back into the construction equipment sector, leader in the space JCB India is seeking to ride the recovery with a new range of products amid signs of optimism in the industry.
“We have geared up for enhancing our product range. We are launching new products”, JCB India’s Managing Director and CEO Vipin Sondhi told PTI.
The company is launching one new product each in the wheel loading, tracked excavator, crane and backhoe loader categories. “The focus is on new products”, he said.
Sondhi said after 12-15 months of slowdown in the construction equipment industry since April 2008, things have started looking up in the last four months.
JCB India has gross revenues of just over Rs 3,000 crore in the calendar year 2008 and expects a flat growth in the current year.
“It’s going to be flat”, Sondhi said. “But we are encouraged by the fact that in the last four months, growth has started coming back to the industry“.
A stimulus package, a government with development-oriented agenda, emphasis on infrastructure growth with the theme of inclusive growth and stability in commodity prices are the positive tiggers for the pullback of the industry, he opined.