MILKFED to put up Verka Booths at HPCL Outlets
MILKFED today signed a Memorandum of Agreement with Hindustan Petroleum Corporation Limited (HPCL) to put up ‘Verka’ booths at the selected Retail Outlets of HPCL. Hindustan Petroleum Corporation Limited has retail outlets at various locations to market the petroleum products and to provide value added services to the customers. Now the customers can enjoy healthy and tasty products of Verka at these HPCL outlets while they avail the outlet’s services.
Milkfed is always at a look out for new avenues to reach the consumer. With this agreement the favorite Verka products will be readily available at the HPCL outlets making it easier for people to indulge into their favorite craving on the go.
Speaking on the occasion Mr. Manjit Brar, Managing Director MILKFED said, “Verka has been delighting the customers for so many years now. It is one of the most loved dairy brands of the region. The collaboration is a very good opportunity for us for increased customer engagement we will be able to deliver our products to the consumers more conveniently. This association will help us to expand our business in the region by tapping in the large customer base of HPCL. It will also generate employment opportunities to local youth.”
“Verka is the leading dairy brand in the region. It is our pleasure to associate with Verka to provide our customers healthy, tasty and superior quality products at our outlets,” said Mr. Subodh Batra, Chief General Manager, HPCL North Zone.
HPCL has about 1650 retail outlets in Delhi, Chandigarh, Punjab, Haryana, HP and J&K. Verka products will be available at selected outlets.
Verka is the brand of The Punjab State Cooperative Milk Producers’ Federation Limited popularly known as MILKFED Punjab, which came into existence in 1973. Verka has a wide range of products including different variants of Pasteurized Packed milk, Ghee, Table Butter, Skimmed Milk Powder, Whole Milk Powder, Cheese, Tetra Pack Products, Sweetened Flavored Milk, Ice Cream, Fresh Products like Lassi, Paneer, Dahi, Kheer, Indigenous Sweets. The products are available in Punjab, Haryana, Himachal, Jammu and Kashmir and Northeast India. Verka also exports ghee to countries like Middle East, Australia, Japan, New Zealand and Malaysia.
RiddiSiddhi Bullions Ltd.’s MD, Mr. Prithviraj Kothari is Awarded with Maharajah of the Bullion Industry and Best Gold Seller in India at The Bullion Federation Ceremony
One of the top bullion companies of India, RiddiSiddhi Bullions Ltd. (RSBL), was conferred with the top honours at the recently concluded awards from the Bullion Federation. The apex body of the bullion trade in India, honoured RSBL as the “Best Gold Seller in India”. RSBL (Managing Director), Mr. Prithviraj Kothari, was felicitated as “Maharajah of the Bullion Industry” at the glittering award ceremony held on August 6, 2017 at JW Marriott, New Delhi.
The Bullion Federation represents the might of the burgeoning bullion market in India. It is the only highly regarded federation in India, which closely monitors bullion trades & industry and thus awarding the best of the companies at their annual event. Apart from maintaining best practices in the industry and representing the interests of the trade, it annually recognises the most achievements in the industry. The yearly celebration is well attended and keenly followed to keep pace with the top and emerging players in the sector. This year, the 2-day event included covered enlightening interactions on a variety of subjects such as Impact of GST on the value chain and Vision 2025. The event ended with an awards night that honoured the top achievers. RSBL was conferred with the “Best Gold Seller in India” for its best-in-the-business online platforms for trading in gold and silver. Its benchmark gold and silver price, by RSBL SPOT, had the highest turnover in the industry, without a nominated agency and without cashless.
Said Mr. Prithviraj Kothari, (Managing Director) – RSBL, “We are thrilled with our double win this year! RSBL, since two decades, has focused on good work and honest practices. We have a passionate team that relentlessly works towards these goals. The award for “Best Gold Selller in India” is a huge honour and a testament to the team work we’ve displayed while marching towards our objective. My award for “Maharajah of the Bullion Industry” is special as it comes from my colleagues in the industry. We accept these awards with humility and a promise to keep working harder!”
These awards join the Hall of Fame at RSBL, joining other prestigious trophies such as Golden Arm, Best Bullion Dealer, Emerging India and EPCES Export Awards that it has earned over the years. The ISO 9001:2008 certified RSBL, renews its commitment to being responsible leaders of the bullion trade in India that is steadily getting India noticed on the global platform. With this big wins, RSBL further cemented its position as an innovative company, led by the pioneering visionary, Mr. Prithviraj Kothari.
Pepe Jeans, Dollar Industries Enter into Joint Venture
- Pepe Jeans Europe BV enters into a Joint Venture company with hosiery major Dollar Industries Ltd
- To manufacture and market premium fashion innerwear, loungewear, gymwear, sleepwear and track suits for adults & kids
- Both the companies to hold 50% stake in the joint venture
- To market and sale products in India, Sri Lanka, Nepal, Bhutan & Bangladesh
Dollar Industries Limited today announced a Joint Venture with a leading international fashion brand Pepe Jeans Europe BV with a 50 – 50 stake of both the JV partners. The Joint Venture Company is to manufacture and market premium range of Fashion Innerwear, Loungewear, Gymwear, Sleepwear& Track Suits for Adults & Kids, in India under the brand name Pepe Jeans London. These products will also be made available in Sri Lanka, Nepal, Bhutan & Bangladesh.
Both the JV partners i.e. Dollar Industries and Pepe Jeans will hold 50% stake in the JV Company. This tie up will help both the companies to work towards creating a premium innerwear brand in the Country to offer an exciting and innovative range of aspirational products to the customers.
This venture would also bring in foreign direct investment for the textile sector in India. While a joint venture would mean a win-win situation for both the Indian company and the investor.
“Pepe Jeans’ expansion into newer categories is a strategic progression of the brand. Our objective was to partner with a great Indian brand with a strong distribution and production set up. This is a strategic investment for the brand. We are funding the JV as per a strong scalable business plan. We believe that at present there is a gap in the market, and therefore immense potential for a strong innovative premium innerwear brand to grow. Together with Dollar Industries Limited we are looking to spearhead growth and innovation in this category. With our strong brand name and Dollar Industries industry expertise will take both the brands to greater heights,” said, Mr. Kavindra Mishra, MD, Pepe Jeans India Limited.
“The innerwear category is a high growth category in the apparel market. With higher discretionary spending and growing fashion consciousness, this segment is poised to grow exponentially. The JV with Pepe Jeans will give a boost to Dollar Industries and help Dollar increase their market share and penetrate the premium Innerwear segment. This association will also help us in consolidating our market share. Pepe Jeans and Dollar both believes in Innovation and creativity which is the heart of their activities. This JV will also combine fashion and functionality and offer products to the Consumers,” said Mr. Vinod Kumar Gupta, Managing Director, Dollar Industries Ltd.
Dollar Industries began its journey with the signature brand ‘Dollar’. Later, the brand Dollar Bigboss was launched, which achieved popularity among consumers. Bollywood celebrity actor, Mr. Akshay Kumar is the Brand Ambassador of Dollar Bigboss and he has contributed significantly in the success of the brand over the last six years. The company also has introduced Kids wear range “Champion”, women’s wear under the brand name “Missy” and casual wear range called “Force”. Dollar Industries was the first Indian Innerwear manufacturing company to introduced Micro Modal fabrics in inners.
The overall range of products at Dollar Industries includes vests, briefs, trunks with latest cuts and fits. In apparel category, there is basic and fashion denims, t-shirts, gym-vests, bermuda and track pants. For winter, the company has premium thermals for men, women and children. The women’s range includes camisoles, panties and leggings.
Pepe Jeans London remains at the front of the fashion pack with a winning formula based on its ability to deliver the strongest denim-led fashion. Today, the company is among the top two leading premium denims brands in the country. In 2015, Pepe Jeans launched kidswear in India. The category continues to be a key growth driver for the brand nationally. In 2016, Pepe Jeans launched eyewear in key stores. The company is now set to take the brand to newer heights with the launch of innerwear and footwear in 2018.
Pepe Jeans London continues to set new benchmarks in the Indian market with its growth story. The company is adding exciting new categories to their portfolio and increasing their presence in tier II and Tier III markets. Overall the company is looking to double their business in the Indian market within the next 3 years with the sole objective of establishing Pepe Jeans as a one stop shop for the casualwear needs of adults & kids.
About Pepe Jeans
Pepe Jeans London was born in the iconic Portobello Road in 1973. Today, more than 40 years later, the brand remains devoted to its initial mantra and its pledge to create the most exciting denim-led fashion on the planet.
The diversity and unique eclecticism, the extraordinary melting pot and mix of cultures that defines the city of London also defines Pepe Jeans personality. Thus, the brand keeps on being the constant inspiration for the brand´s denim, women, men and kids collections.
Music, Culture, fashion, London and denim, which is what Pepe Jeans is all about.
About Dollar Industries:
Dollar Industries Ltd, is today amongst the top three hosiery brands in India. The company, which has got listed in NSE in the recent past, has four manufacturing units in Kolkata, Tirupur (TN), Delhi and Ludhiana. Dollar Industries enjoys a 15% market share in the branded hosiery segment in India. Dollar Industries have recently started business in African market with Nigeria to reserve more export revenue. The company’s existing export markets are in Gulf Middle East as well as Nepal.
Uflex Registers 8 percent Bottom Line Growth Y-O-Y during First Quarter of FY 2017-18
India’s largest multinational flexible packaging materials and Solution Company, Uflex Limited has clocked 8% bottom line growth (Y-O-Y) during the quarter ended 30th June 2017. Figuratively the Consolidated Net Profit stands at Rs. 93 Crore as compared to Rs. 86 Crore during the first quarter of FY 2016-17.
At the operating level, Consolidated EBITDA rose by 4% to stand at Rs. 236 Crore as against Rs. 228 Crore during the same period in the previous fiscal. Consolidated Total Revenue for the first quarter of the current financial year is Rs. 1624 Crore as against Rs. 1516 Crore in the same quarter last financial year thereby registering a 7% topline growth (Y-O-Y).The total sales volume also grew by 5% as compared to the first quarter of FY 2016-17.
Innovation to create value added differentiation is the cornerstone of Uflex Limited’s business strategy and the company keeps developing and launching newer films and packaging products that contribute to the overall financial growth of the organization.
In an official document released soon after declaring the Q1 Earnings, Mr. Ashok Chaturvedi, Chairman & Managing Director, Uflex Limited said, “The Financial Year 2017-18 has started off on an assuring note! Our aseptic liquid packaging material manufacturing plant at Sanand, Gujarat has been commissioned. This has completed our product offering bouquet in its entirety. You will be glad to know that with this your company now stands in a good stead to offer end to end flexible packaging solutions for solids, non-aerated liquids, semisolids, viscous fluids, gels, pastes, granular material, powders among others. This feat will further strengthen your company’s competitive edge in the flexible packaging industry. On the innovation front, we launched several products in the quarter ended 30 June 2017 that continued to add value to the businesses of our esteemed clients globally.
I always tell my team that the solution lies in the womb of the challenge itself and that every challenge should be seen as an opportunity to tangibly improve our products and services in the best interest of our clients. I am glad to let you know that this doctrine is deeply ingrained in the cultural fabric of Uflex that keeps the entire team aligned with the corporate vision of being a leading company and preferred supplier for providing flexible packaging solutions to customers across the world maximizing value for all stakeholders!”
Uflex is India’s largest multinational flexible packaging materials and Solution Company and an emerging global player. Since its inception back in 1985, Uflex has grown from strength to strength to evolve as a truly Indian Multinational with consumers spread across the world. Uflex today has state-of-the-art packaging facilities at multiple locations in India with installed capacity of around 100,000 TPA and has packaging film manufacturing facilities in India, UAE, Mexico Egypt, Poland and USA with cumulative installed capacity in excess of 337,000 TPA.
All Uflex plants are accredited with ISO 9001, 14001, HACCP & BRC certifications. Uflex caters to markets spanning across the globe in over 140 countries like USA, Canada, South American countries, UK and other European Countries, Russia, South Africa, CIS, Asian and African nations. Integrated within its core business profile are allied businesses like Engineering, Cylinders, Holography and Chemicals which further give Uflex a superior edge above competition.
Uflex Limited is also a part of the D&B Global Database and winner of various prestigious national and international awards for its products’ excellence. Uflex offers technologically superior packaging solutions for a wide variety of products such as snack foods, candy and confectionery, sugar, rice & other cereals, beverages, tea & coffee, dessert mixes, noodles, wheat flour, soaps and detergents, shampoos & conditioners, vegetable oil, spices, marinades & pastes, cheese & dairy products, frozen food, sea food, meat, anti-fog, pet food, pharmaceuticals, contraceptives, garden fertilizers and plant nutrients, motor oil and lubricants, automotive and engineering components etc
Some of Uflex’s clients on the global turf include P&G, PepsiCo; Tata Global; Mondelez, L’ Oreal, Britannia, Haldiram’s, Amul, Kimberly-Clark, Ferro Rocher, Perfetti, GSK, Nestle, Agrotech Foods, Coca-Cola, Wrigley, Johnson & Johnson among others.
RERA Compliant Kolte-Patil Developers Ltd Brings Over 200 Potential Channel Partners under its Fold
Kolte-Patil Developers Ltd (BSE: 532924, NSE: KOLTEPATIL), Pune’s leading real estate company, recently hosted a Live RERA registration drive with the objective of empowering the community of channel partners with the required knowledge to hand-hold them through the regulatory process. The registration drive saw participation from over 200 potential channel partners in a single day, who are now compliant to conduct business with Kolte-Patil, with their authorization numbers mentioned on the company’s website.
Kolte-Patil has also successfully registered all its projects under the Real Estate Regulations Act (RERA) within the stipulated deadline of 31st July 2017. The Company has always made governance our operating framework and focused on maximizing stakeholder value. Its vision is to create a brand which our partners and stakeholders can recognize and be proud to be associated with.
According to the RERA bill, it is mandatory for agents/ brokers to be RERA compliant and have them registered with a real estate company to market its projects. The real estate companies, had to register with RERA before July 31, although the real estate agents and brokers are not bound by any such deadline.
Mr. Gopal Sarda, Group CEO, Kolte-Patil Developers Ltd said, “We welcome RERA with all its rules and regulations and believe it will bring in transparency, accountability, boost customer confidence and create a level-playing field. We have always been a customer-centric organization providing a credible solution to customers who needed to trust real estate companies with their hard-earned money, through transparency, quality product and timely delivery of our projects. So the reality is that it has mostly been business as usual for us.
We have always believed in inclusive growth of all our stakeholders and recognizing that our channel partners are an important medium between a customer and a developer, we have conducted this Live RERA registration drive for them. We have seen a phenomenal response from the Channel Partner community with over 200 potential channel partners registered on board.
We believe that by the virtue of having been an early-mover in growing our business in a credible way, we have grown faster, more sustainably and emerged as one of the most respected developers in India’s real estate sector. RERA represents a landmark sectoral opportunity for our company and expect to be a leading beneficiary of the consolidation expected to take place in the medium term.”
About Kolte-Patil Developers Limited
Kolte-Patil Developers Ltd. (BSE: 532924, NSE: KOLTEPATIL), incorporated in 1991, is a leading real estate company with dominant presence in the Pune residential market. Kolte-Patil is a trusted name with a reputation for high quality standards, design uniqueness, transparency and the delivery of projects in a timely manner. The company has developed and constructed over 50 projects including residential complexes, commercial complexes and IT Parks covering a saleable area of ~15 million square feet across Pune and Bengaluru.
Kolte-Patil markets its projects under two brands: ‘Kolte-Patil’ (addressing the mid-income segment) and ‘24K’ (addressing the premium luxury segment). The Company has executed projects in multiple segments – standalone residential buildings and integrated townships. Several of the company’s projects have been certified by the Indian Green Building Council (IGBC).
Consolidating its leadership position in Pune, the company forayed into the Mumbai market in 2013 focusing on low capital intensive society re-development projects.
The Company’s long-term bank debt and non-convertible debentures have been rated ‘A+ / Stable’ by CRISIL, the highest rating accorded by CRISIL to any publicly listed residential real estate player in India.
For more details on Kolte-Patil Developers Ltd., visit www.koltepatil.com.
Mindteck Reports Financial Results for Q1 2017-18
Mindteck (India) Limited (BSE: 517344 and NSE: MINDTECK), a global technology company, today reported its unaudited financial results for the first quarter ended June 30, 2017.
The company’s consolidated revenue for the quarter stood at Rs. 77.76 crores as against Rs. 79.23 crore for corresponding quarter ended June 30, 2016. Net profit for the quarter stood at Rs. 1.58 crore as against Rs. 2.90 crore for the corresponding quarter.
Yusuf Lanewala, Non-Executive Chairman, commented, “We are very pleased to have closed out a productive quarter with the Smart Parking Bhopal Letter of Award received in June. This is an important, end-to-end, ten-year project from the Bhopal Municipal Corporation (BMC) – one of the 20 cities designated a smart city in the first phase of India’s Smart Cities Mission.” He added, “It may also be India’s first city-wide smart parking solution that covers both on-street and off-street parking.”
Other notable highlights for the quarter include:
- Acquired the largest, New England service contractor, a leading EDA, and a storage company as clients in the US.
- Won contract extensions for four onsite resources for a Swedish company that provides radiation therapy, radiosurgery, related equipment and clinical management.
- Won a new ZigBee stack development project with a company involved in innovative and high-performance RF solutions for advanced wireless devices, defence radar and communications in Belgium.
- Obtained new MS opportunities with an electronic manufacturing services company, and a life sciences company, in APAC.
Mindteck, a global technology company established in 1991, provides Product Engineering solutions and Information Technology services to top-tier Fortune 1000 companies, start-ups, leading universities and government entities. The company is among a select group of global companies appraised at Maturity Level 5, Version 1.3 of the CMMI Institute’s Capability Maturity Model Integration (CMMI). Its depth of knowledge and niche expertise in embedded systems and enterprise applications is complemented by dedicated Centers of Excellence in wireless design and storage testing. Office Locations: India, Singapore, Malaysia, Philippines, Netherlands, Germany, Bahrain, UK and US. Development Centers: US, Singapore and India (Kolkata and Bangalore). Founding Member: ‘The Atlas online’ (www.atlas.cid.harvard.edu) for the Center for International Development at Harvard University.
Paris Excellence Award Bestowed Upon Mr. Ushik Gala
‘Paris Excellence Award 2017’ was bestowed upon Mr. Ushik Mahesh Gala in the category of Excellence in Garment Industry. The award was presented by Mr. Robby Wells, the Presidential Candidate of US Election 2020 at Eiffel Tower, Paris.
Paris based French European Indian Organization, World News Network and Art For Peace Awards Beverly Hills, USA had organized Paris Excellence Award 2017 function recently at Eiffel Tower, Paris.
Mr. Ushik Gala stated, “We have officially announced support to Mr. Robby Wells, the Presidential candidate for US for the year 2020. With this, we enter USA market and have plans to make substantial investment in USA.”
Mr. Ushik Gala is the Managing Partner of KSPM & Associates, a chartered accountants firm. He is the Chairman of Suumaya Lifestyle Ltd. He is also Global Director of JIO (Jain International Organisation).
Suumaya Lifestyle Ltd. are manufacturers of ladies designer kurtis and denim bottoms. The company also deals with fabrics for women wear. The company is having 3 manufacturing units in Mumbai & Wada. It has 3 stores in Mumbai, 1 in Varanasi and a complete in-house CMTP (Cut-Make-Trim-Packaging/Finishing) set up in Mumbai.
V-Mart Organizes Sahyog – Its Flagship Business Associate Program
- This collaborative business associate program focuses on strengthening SMEs and empowering small businesses
- Initiatives aimed at contributing to PM Modi’s ‘Make in India’ vision
Around 500 business associates of V-Mart Retail Ltd participated in its flagship business associate program called ‘Sahyog’, which is aimed at strengthening SMEs and empowering small businesses enhance their business competence and contribute to PM Modi’s ‘Make in India’ vision.
Through this program, V-Mart proactively supports development of entrepreneurial spirit in smaller towns and strengthening of SMEs which it believes will become a significant contributor to PM Modi’s Make in India’ program. The meet was held in Delhi.
“Sahyog is a collaborative platform which is aimed at fostering closer association with our business associates but more importantly it is aimed at fostering the spirit of entrepreneurship in smaller towns and cities. We are committed to supporting SMEs become efficient business entities and we would do all we can to realize this objective,” said Mr Lalit Agarwal, CMD of V-Mart Retail Ltd.
Mr Agarwal added that V-Mart is committed to contribute to PM Modi’s vision of ‘Make in India’ which it believes would be truly realized only when SMEs and small business became efficient and empowered.
Many associates who supply various products and services to V-Mart were also recognized and rewarded for their outstanding performance during the Sahyog meet, where the emphasis was on product quality and delivery commitment.
About V-Mart Retail Ltd.
V-Mart is dedicated to provide “Price less fashion” to consumers in Tier II and III cities where penetration of organized retail is not common. The Company stands true to its promise ever since it opened its first store in Ahmadabad in 2003.
V-Mart Retail Ltd is promoted by Mr. Lalit Agarwal and currently operates 150 stores in 126 cities pan India covering more than 11,00,000 sq ft retail space. The retail format offers more than 50,000 different fashion products in over 10,000 designs to the customers, sourced from the choicest merchandisers who understand current fashion trends and deliver products as per consumer expectations. The company intends to further strengthen its presence and deliver fashion to highly aspirational tier II and tier III consumers across India.
Digital Harbor launches Industry’s First Clever and Collaborative Healthcare Provider Credentialing Application “Know Your Provider” – KYP 4.0 in NAMPI 2017
Digital Harbor, a leader in risk management and healthcare fraud prevention, and a trusted partner of leading healthcare organizations across the United States, launched Know Your Provider – KYP 4.0, in National Association for Medicaid Program Integrity (NAMPI), at Miami, FL, on 7th Aug 2017.
Know Your Provider is a clever and collaborative provider credentialing application that drastically reduces credentialing turn-around times while seamlessly complying with Medicaid regulations. While Digital Harbor is renowned for its history of innovation, Know Your Provider is the latest in its innovation kitty that has already resulted in a cost saving of more $500 Million to its customers.
Speaking at the occasion, Rohit Agarwal, Innovator-in-Chief, Digital Harbor Inc., said, “Medicaid is poised to undergo the most significant budget transformation in its 40-year history. Over the next decade, Medicaid would need to serve an increased number of beneficiaries with fewer providers and even fewer dollars amidst dynamic and increasing regulations. To accomplish this, Medicaid requires game-changing processes and technologies. KYP 4.0, not only saves Provider and Enrollment analyst frustrations, it can prevent draining of billions of $ in improper payments annually. With KYP 4.0, providers can enrol in weeks’ vs months using self-service portals and real-time screening technologies. Beneficiaries can be connected to services across benefits programs with 360-degree views, voice driven provider directories and personal health assistants. States can eliminate ineligible beneficiaries and providers through real-time monitoring and manage their programs through social dashboards.”
Chuck O’Brien, Director of Consulting, Digital Harbor Inc., said “We are launching KYP 4.0 at a time, when the healthcare providers are struggling to enrol themselves with State Medicaid, with waiting times of up to 6 – 10 months and the enrollment analysts are struggling to comply with regulations, with tripling workloads. KYP screens the health care providers against 15000+ data sources and reduces credentialing times literally from months to weeks.”
Delivered by Social Enterprise (S.E.T.) Technology Universal Platform, KYP is the industry’s first smart and modular provider network management system that houses never-before social collaboration and intuitive functionalities.
About Digital Harbor
With over 18 years of expertise in providing compliance and intelligent risk management solutions, agnostic of industry, Digital Harbor has transformed the way enterprise knowledge workers respond to real-time data variations in complex business processes. Digital Harbor pioneered the “Know Your Customer (KYC)” solution for the banking industry in the US which later became a norm across industries and regions and recognized as a leader in risk management solutions for financial institutions. Innovating healthcare operations using its generational Social Enterprise Technology (S.E.T.) Universal Platform, Digital Harbor is now a trusted partner of leading healthcare organizations across the United States. For more information, please visit www.digitalharbor.com
National Association for Medicaid Program Integrity (NAMPI) was launched with an intent to create national Medicaid program integrity through the channelling of funds for required services. Their primary task focuses on instances of fraud and abuse in the Medicaid Medical Assistance Program. NAMPI encompasses all 50 states of the U.S. Members are from various professional disciplines, including but not limited to, attorneys, nurses, contractors, investigators, managed care staff and pharmacists.
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Indian Heavy Duty Truck Manufacturers to Focus on Value Truck Segment
The heavy duty (HD) truck market in India is moving away from basic economy trucks to value trucks. With growing volumes, regulatory changes, and the entry of new global players, customers are looking beyond a low-cost product toward productivity and efficiency at a price premium. This gives a distinct advantage to market participants that have the ability to provide complete truck solutions to customers. The challenge is that value trucks currently account for less than 10 percent of the market, with volatility in freight rates, high fuel prices, and overcapacity slowing investment. Nevertheless, user focus on higher productivity, efficiency, and lower total ownership costs will steadily push value truck growth rates ahead of the economy trucks segment.
“Higher reliability and productivity are the major benefits of value trucks with overall cost of ownership being the major USP,” said Sunny Manjani, Program Manager, Mobility Practice, Frost & Sullivan. “However, the poor availability of drivers and growing importance of comfort and safety will require value-added services to be packaged in the value truck offerings for increased uptake and customer retention.”
Indian Heavy Duty Truck Market Outlook provides an overview of the Indian HD trucks market and examines the potential of value trucks in India, original equipment manufacturer (OEM) strategies for the HD trucks segment, and changing customer needs and expectations from HD trucks in 2020 and beyond. The study covers HD rigid, tipper and tractor trailers trucks (GVW of 16.2 tons and above).
Significant trends shaping the Indian HD trucks market include:
- Improving power-to-weight ratio of Indian HD trucks, which are expected to reach current levels of those in China and South Africa within three to four years;
- Immense potential for value trucks in South Asia, ASEAN, Africa and the Middle East that will encourage Indian OEMs to look at a larger market and compete with Japanese, Chinese, European, and South Korean OEMs offering value trucks;
- Intensifying demand from cement, parcel, coal, and infra development industries that will propel truck makers to explore customized solutions for better returns.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?
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