Market sentiment to improve in near future

June 26, 2014 5:31 am

There is a big domestic market in India which assures manufacturers of steady consumption irrespective of the global issues
 The compressor is the heart of any refrigeration or air conditioning system. BITZER has stood for many years in the field meeting market needs in any refrigeration or air conditioning application. When asked about India’s chances to become global manufacturing hub, Rob de Bruyn expressed his views on the same.
Already well placedTo become a global manufacturing hub, India is already well placed; the highly skilled manpower pool and entrepreneurial instincts of the people will continue to support this development. The government is also looking to assist by streamlining the taxation issues. Introduction of GST would be a big boost in this direction. However an issue of concern presently is the high inflation which is causing the interest rates to remain high. This needs to be moderated so that finance is made available to the manufacturing sector at more competitive rates.
Expecting growth of marketThere is a big domestic market in India which assures manufacturers of steady consumption irrespective of the global issues. Though the market sentiment seems to be little depressed now, it will improve in near future leading to higher sales and in turn will stimulate expansion of the manufacturing sector. The global picture has also started to get better. The USA economy is already limping back to normal. According to International Monetary Fund (IMF), the Eurozone is coming out of recession and is expected to grow by one per cent this year. The forecast for South-East Asia is even better at 5 per cent. The growth in these markets will definitely increase demand for products manufactured in India even more.
Current negativity and expected stand of govtStill there is some negativity in current system that needs attention. This includes high land acquisition costs, rising cost of labour and complex taxation system in the country.
Hence it is essential that government should try to correct these things. Implementation of GST is required at this stage. Moreover, power shortage and labour reforms are some issues government should take into consideration.
Bitzer’s planningBitzer continues to expand its footprint in India. In fact, India is one of the high growth areas identified by Bitzer. It recently opened its fourth ‘Green Point’ service station in Kolkata; having its previous service stations running successfully at Mumbai, Bangalore and New Delhi. This service station which also doubles up as a training centre will contribute heavily in the skill development of HVAC engineers and technicians in East India.
Bitzer is also continuously investing in enhancing the stock availability in the country so that customers can be supported in real quick time. Its added value products assembly plant in Indonesia supplies high quality products to the Indian market thereby contributing in development of the cold chain infrastructure in India.
Bitzer ranks among the leading manufacturers of refrigerant compressors. Around 3,000 employees in more than 90 countries stand behind this success. Its customers get to see the results of the company’s innovation at trade fairs and in its seminars.
Rob de Bruyn, MD, BITZER Asia