Ad Here  
December
January
February
March
April
May
 
 
Daimler grows sales and share in India A niche in FMCG business... Sundram Fasteners rejigs international Bajaj Finserv – Q1: fare well PPP model for infrastructure development Welcome focus to improve rural India... The unexpected exit Tata Motors bets on new launches AL secures orders for 3600 buses Last stages TN government keen on revival of operations at Nokia complex From the toughest to the best year Increasing market share Record two-wheeler sales Tata gets 4-star rating for Zest TVS Srichakra plans capacity expansion E.I.D Parry (India) Ltd: another sweet year Preparing for the next growth curve TVS Automobile invests Rs.75 crore in start-up firms Eyes strong growth in 2016-17 The gainers and the losers HPCL plans Rs.61,000 crore capex over 5-years Mercedes-Benz sales continue to zoom AL wins Deming prize again Aurobindo Pharmacy: good turnaround Tata Motors charts investments in PV and CV businesses Emami – a new growth mantra AL introduces Guru & Partner 29 per cent jump in TCS revenues Hyundai to focus on SUVs and AMT variants Vellayan is back, after 150 days Michelin to double Chennai capacity New India Assurance posts impressive show TI Cycles plans retail expansion to drive sales for premium bicycles Smartphone onslaught by Chinese brands LVB posts 31 per cent growth in Q1 net profit Are they really independent? Housing demand revival L&T profit up by 11 per cent Forging industry worried over lower supply of steel and its price Back in growth mode Nissan exit shouldn’t affect ALL V-Guard launches app-enabled water heater system Hyundai India achieves 7 mn production at Chennai factory Ponni Sugars (Erode) Ltd: not so sweet 2012-13 Daimler’s truck exports from Chennai cross 5000 units Wabco launches safety system L&T bags the Mumbai Trans-harbour link order Titan Company – sales recovery to kick in Singur minus Nano – victory or folly? Tata Motors joins compact SUV bandwagon with Nexon Toyota and Suzuki to introduce EVs in India by 2020 Kone India eyes further growth in elevator market Land wars When small is not so beautiful… CAPITAL NOTES L & T set bigger ambitions in defence business M & M unveils driverless technology for tractors Carnival Films acquiring 3000 screens pan India Yamaha unveils scooter boutique ITC chairman calls for policy impetus to transform agriculture Chinese smart phones flourish in small towns too! Is this a generation gap? PSU non-life firms seek to protect share Solar installations exceed 2015 capacity in five months Shriram Life clocks more than Rs.1000 crore premium in 2015-16 Ode to Ratan Tata Dish TV – subscriber additions encouraging Rane targets Rs.5500 crore topline by 2018-19 RoC in the dock... It takes two to tango A welcome initiative-even critics are recognised Right to privacy – now it’s fundamental! Hindalco – re-rating Smooth sailing of SAIL Tata Motors aims to be among the Top 3 global CV & PV firm Maruti – for young buyers ITC – steep excise hike Gamesa to set up a plant in Nellore He excels in the nuts and bolts of entrepreneurship IOB on turnaround path Consolidating leadership position in smartphones L & T’s floating dock for navy Tata Steel, ThyssenKrupp sign MoU to merge European units Sivasankaran enters taxi space to take on Uber and Ola
 
Kone India eyes further growth in elevator market

Leading elevator firm Kone is bullish on growth prospects in the Indian market, one of its principal growth countries. The company expects its manufacturing-cum-service expansion and launch of digitally enabled products to gain an edge over the competition.

The Finnish firm expects growing urbanisation to drive the expansion of the major cities and development of new industrial corridors. It will augur well for the growth of the elevator market.

India is the second largest elevator and escalator market with annual volumes of 45,000-50,000 units.

President  & CEO of Kone Corporation, Henrik Ehrnrooth, who was in Chennai recently, indicated that while Chinese market was slowing down, India to gain more attention over the decade or so.  He pointed out that apart from new orders, existing customers would also provide some business opportunity by way of new service contracts.

The company is setting up a new factory at Pillaipakkam near Chennai to double its capacity given a favourable market outlook. It is expected to commission operations in a couple of years.

Kone is also keen to ride the growing digital flavour across product segments in India. It is presently working on rolling out connected-elevators and escalators, which could be remotely managed. These type of elevators will be launched in India in the next two years.

Kone’s market share is estimated at 20 per cent in the Indian elevator and escalator market.

Author :
Reported On :
Sector :
Shoulder :
RELATED NEWS
ABOUT IE
IE, the business magazine from south was launched in 1968 and pioneered business journalism in south. Through the 45 years IE has been focusing on well-presented and well-researched articles. When giants in the industry stumbled to keep pace with the digital revolution, IE stayed affixed embracing technology.
Read more
 
PRIVACY POLICY
Economist Communications Ltd is committed to ensuring that your privacy is protected.
Read more
TERMS AND CONDITIONS
You agree that your use of this Website and the purchase of the magazine will be governed by these terms and conditions.
Read more
 
CONTACT US
S-15, Industrial Estate,
Guindy,
Chennai - 600 032.
PHONE: +91 44 22501236
EMAIL: indecom1968@gmail.com