Igus has announced an aggressive growth plan for India, which is its ninth largest market globally and third largest in the APAC region.
Igus India claims it has consistently been recording double-digit growth over the last many years. This year, it is growing at 30 percent year-on-year growth and expects to double its revenues to Rs 300 crores in the next 3-4 years.
Virtual product booth
Among a host of plans to drive future growth, Igus India has introduced a ‘virtual show booth’ which showcases its entire set of products for customers.
The virtual booth aims to give customers an immersive experience similar to a face-to-face expo with an option to interact with product experts. The first such innovative virtual trade show was set up at igus’s global headquarters in Cologne, Germany.
Deepak Paul, Managing Director, igus (India) said, “India is one of the key markets in the world for igus, occupying one among the top 10 positions, globally. Having achieved an impressive double-digit growth for the last 20 years in India, igus India’s range of motion plastics with its motto ‘tech up; cost down’ has been widely accepted across all manufacturing industries."
He added, "Igus India has chalked out a multi-pronged strategy to drive growth and support businesses achieve their growth objectives, one of them being an immediate addition of 10,000 square feet with the intention of starting injection moulding in India which has been a longstanding wish from Indian customers.”
Santhosh Jacob, Country Manager and Director, Igus India said, “As a technology focused organisation, innovation has always been igus’s cornerstone and prime focus. Igus India’s investment of nearly Rs 2 crore into IMPS is yet another innovative offering to enable customers visiting the virtual stall to not only witness new products, product extensions and new service offerings, but also interact with an igus’s product experts who can share more insights, global experience and also directly discuss their relevant applications of interest virtually.”
Stephen Moreno Simpson, International Group Development, Igus GmbH added, “Our products are designed with passion to extend the service life of machines and applications, eliminate maintenance and reduce costs. Our investment in the virtual trade show comes at a time when buoyancy to the manufacturing segment is returning and augurs well with the plans that we have envisioned for India”.