Infrastructure push is going to be the key enabler for the Indian economy to continue to grow at its maximum potential.
Jasmeet Singh,
Head – Corporate Communications, JCB India Ltd
This is a great time to evaluate 2015. How would you look back at the past twelve months from an industry perspective?
2015 was a notable year for the industry as the Indian Construction Equipment market witnessed a bottoming out trend after three years of continual decline. The initiatives and reforms from the Government in the past one year have helped a positive outlook to the industry.
We are seeing the first signs of a U shaped recovery in the industry as on the ground movement has been noticed in a few sectors like Roads & Highways, Coal mining etc. Moreover, the announced investments in various projects like Express Highways, Coastal Roads, Smart Cities and High speed railway corridors etc. will hopefully upsurge the demand for Construction Equipment in the coming year. The Government from the beginning has shown a strong intent towards infrastructural development and we are hopeful of a full recovery soon.
What are the expectations from the New Year 2016?
We are optimistic that growth will accelerate in the coming months. Efforts from the Government are underway and there is complete agreement on the urgency and importance of sustained focus on infrastructure.
Programs like Make in India, Digital India, Skill India and Clean India will provide the much needed momentum for growth. Initiatives and project announcements in sectors such as Railways, Energy, Urbanization and Sanitation will be major growth drivers in the coming year.
With Swachh Bharat attracting over USD 9 billion investments, Railways and Power sector attracting investments of upto USD 6.5 billion and USD 230 billion respectively, the ECE industry will get a major boost in the years to come. (Source: ICEMA – Feedback “Rebooting Indian Infrastructure”)
What is the biggest challenge for the infrastructure growth in India?
What would be your message for the infrastructure and construction industry at beginning of the New Year?
At present, the key challenge for the industry is the implementation of approved infrastructure projects and active monitoring of those projects from the Government agencies. Infrastructure push is going to
be the key enabler for the Indian economy to continue to grow at its maximum potential.
The Government has taken some decisive and bold steps towards stabilising the economic scenario and we are sure the growth will return, the question is not of “if” but “when” the market will uptick from the current prolonged downturn.
Other than that, streamlining of the land acquisition process, stability & a progressive tax regime (GST), a flexible labour policy, Introduction of self-certification & third party certification to cut multiplicity of procedures can further give the desired lift in the manufacturing sector.
Skills will also play an integral part in the journey of excellence in manufacturing. The Construction Equipment industry through the sector skill council already has established the IESC (Infrastructure Equipment Skill Council) and has ambitious targets towards skilling of operators and mechanics. This is also a part of the Government’s PMKVY program.
There is no doubt that the construction equipment industry is poised for growth, all factors are favorable for a U shaped recovery and then a sustained growth. According to the report on the industry by feedback – the industry is poised to grow to 5 Billion USD by 2020. We are confident that the growth will be more than this.
How do you encourage creative thinking within your organization?
Creative thinking is driven by curiosity, zeal and passion to challenge the status quo. In today’s competitive scenario, it is imperative for any business to build the innovation culture across the organization as the genesis of a small idea turning into a big commercial success could come from any corner.
It is important from the top management perspective to institutionalise the process so that innovations happening at fragmented levels could be encouraged, consolidated, prioritized and funded appropriately.
At the middle management, it is critical to develop a startup / entrepreneurial culture within their respective teams to keep the spark of discontentment alive in the employees.
At JCB, we have a well-defined structure / process to capture and consolidate innovations happening across the organization. At the same time, we have enabled flat, unstructured and nonhierarchical teams called I-cubes to generate innovations with “Stretched KRAs” concept.
What do you do to ensure you continue to grow and develop as a leader?
JCB’s story is based on the cornerstones of innovation and sustainability. Our continual innovation in business, products and customer support keeps us at the cutting edge of innovation.
In India, we have grown our product to 43 models (widest product range in the industry) selling in
60+ countries across the globe. Over the years, we have been able to set up the largest distribution network for our customers with 60 dealers and 600 outlets.
The constant pursuit for excellence has positioned JCB as a leading manufacturer in the Construction Equipment industry.
In India, JCB has become a synonym for the backhoe loaders. How was this achieved?
The Backhoe Loader is an extremely versatile product and it has proved its importance and utility over the years. It is usually the first machine to enter a site at the start of the project and remains engaged with a variety of activities throughout its life cycle. Over the years the contribution of the Backhoe to Indian Infrastructure development is immense.
This new range also comes with JCB Livelink – an advanced telematics technology that enables customers to remotely manage and monitor their machines. Customers can get SMS alerts on their mobile phones or smart devices regarding service alerts, Operations and Security of their machines by using the geo fencing and time fencing features. All this information is available to the customer in real time basis. This has resulted in our customer being in better control of their equipment and has helped immensely in their fleet management.
Customers also have the options of going in for four wheeled drive versions, air conditioning and the options of different tyre sizes to suit their requirements. These options offer greater flexibility and value to the customers thus, making JCB the most preferred brand of Backhoes in India.
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