Page 38 - CO_Feb_2023

COVER STORY
INTERACTION Which segments are the biggest demand drivers for your products

Rapid urbanization, commercial construction, and upgrading
infrastructure of industrial and residential spaces are major factors
driving India’s elevator industry as well as our growth.
Having said that, India has been witnessing a rapid increase in
investments both by government and private entities on large-scale
metro projects, especially in tier-1 and tier-2 cities, to provide an
effective transport system to consumers. Similarly, in order to cater
to the rising air traffic, the Government of India has envisaged
increasing the number of operational airports to 190-200 by FY40
from current 103 domestic airports. Transportation infrastructure
is one of TK Elevator’s major strategic focuses. With thousands of
passengers travelling through on a daily basis, many local and
international airports, train stations and transportation hubs across Victoria Escalator
the globe gave TK Elevator’s proven mobility solutions their vote of
confidence. neighbours also reinforces the country’s branding and its ambition
Real estate investments in the vicinity of these metro rail stations to become a global manufacturing base.
and airports will also create demand for elevators and escalators.
In view of growing demands for elevators in private mansions and What kind of government policy would foster growth of the E&E
luxury homes, as well as other forms low rise residences, TK Elevator industry in India.
will be offering solutions optimized for this market segment. Please Indian elevators & escalators industry’s future looks promising with
stay tuned for updates from us! hopes of good market growth fuelled by positive developments on
the government policy front. Noteworthy of these are 33% higher
Tell us about your manufacturing base in India. What is the level capital outlay of Rs 10 lakh crore on infrastructure development
of indigenization. Are you contributing to the ‘Make in India’ and to transform Tier 2 & Tier 3 cities into centers of economic growth;
Sell Globally campaign Increase in PMAY Fund by 66% to the tune of Rs. 79000 crores
TK Elevator has always been a staunch supporter of the to realize the vision of providing housing to all; Announcement
Government’s “Make in India” initiative through localized R&D and for selection of 50 tourist destinations to promote domestic and
manufacturing of elevators and escalators. Through localized R&D international tourism; Infrastructure status awarded to affordable
and manufacturing of TKE’s various elevator and escalator solutions, housing; Introduction of RERA and REIT; Rapid urbanization, Launch
we are committed to empower the local economy with innovation of 100 smart cities; Development of metro and aviation projects
and state-of-the-art technology. India is a market where TK Elevator across nation etc. all these initiatives will unlock new opportunities
sees immense growth potential and one that we will continue to for the Indian E&E industry in the long run.
invest more resources in.
We have set-up a state- of- the- art multi-purpose facility (MPF) Your market outlook for the elevators & escalators industry in India
in line with the Indian government’s “Make in India” initiative to and for your company
promote local manufacturing. This Multi-Purpose Facility (MPF), As aforementioned, the industry will continue to be driven by
is built on 84,000 square metres of land with an investment of India’s rapid urbanization and infrastructure development. Recent
about Rs.300 Cr. at Chakan, Pune. True to its name, MPF includes development trends in the residential sector will also create new
corporate office aka business support center, production facility, opportunities for us in the low-rise / private residences market
central warehouse, centralized call center, customer experience segment. Our long-standing reputation globally in the high-rise and
center, training center/SEED, product showroom and test shafts. It high-speed segment will ensure we fulfil such needs should more
is designed for an initial capacity of manufacturing 6,000 elevator of them arise in India.
units, extendable to over 10,000 units in the foreseeable future. TK Elevator has developed sustainable, eco-friendly products and
In addition to this, our Multi-Purpose Facility at Chakan, Pune has solutions that prove themselves through high energy-efficiency
started offering Made in India escalators including our much sought and reliable performance over the long term. We have a host of
after velino, tugela and victoria series. Adding a comprehensive offerings that are best suited for all applications. We have products
range of escalators to our locally-manufactured product portfolio that match up to the best in the industry in terms of Engineering and
allows us to stay close to our customers’ needs and serve them Technology. Our portfolio includes a wide range of passenger and
better. As far as sell globally initiative is concerned, we have high freight elevators, escalators and moving walks, passenger boarding
confidence in the quality and competitiveness of our locally bridges, stair and platform lifts as well as tailored service solutions
manufactured products. While the local market in India will remain for all products.
our key focus, we are also offering our “Make in India” products to As more high-end construction and infrastructure projects which
the neighbouring countries. emphasize sustainability and speed gain popularity in the Indian
Expanding our reach does not only benefit TK Elevator from a market, the TKE brand will be one of the best-known names in
market development perspective, as a staunch supporter of the India for energy-efficient, AI-assisted, and centrally managed and
“Make in India” initiative, promoting India-made products to our maintained elevator solutions.

38 CONSTRUCTION OPPORTUNITIES|FEBRUARY 2023