For Volvo, the Indian market is vital in terms of serving the increasing demand in the domestic market and also to utilize unique strength of the country in product engineering, development, and global supply of components for markets elsewhere. The strategy is to cater to the expanding domestic market due to present and future boom in infrastructure development in these regions and utilize the same as a sourcing base for exports.
"We are in the process of consolidating and strengthening our presence in India in a big way as India is becoming a big market for both domestic and exports, they said in their interaction with SKK and S. A. Faridi on the sidelines of Excon 2007 at Bangalore.
Recent acquisition of Ingersoll Rand, has been the first major initiative to complement, enlarge and expand the range of Volvo products and services.
The acquisition has helped us expand our expertise to leverage our position across synergies, they said. Through such initiatives, Volvo brings to the markets the finest products and services and simultaneously meets its energy conservation and fuel efficiency, environmental protection obligation with better emission and fuel efficiency standards in line with its corporate responsibility on these fronts. Having changed the concept from the lowest ownership cost to the lowest cost per tonne, Volvo has the world's most efficient engines and technology that is unmatched in the industry. We believe in acquiring the most suitable companies in the world, having acquired companies in the US, Germany, China, and India to deliver the best to our emerging markets. These gains have to be consolidated to serve the global market effectively and in better ways. Volvo has plans for manufacturing and expanding specific products for the Indian market, depending on the opportunities. In a style typical to Volvo operations, Volvo India has been introducing the latest series of machines in India coinciding with their global launches all resulting in high productivity and machine uptime. These products are supported by a strong distribution network located across the country, said Mr. Eberhard Wedekind.
Tax and import duty regime need to be rationalized. As a matter of fact, this was discussed at great length at the CEOs meeting at Excon. There was a broad agreement at this meeting urging the removal of various distortions which will augur well for the future for the growth of construction Equipment industry, added Mr. Olney.
At Excon, Mr. Eberhard Wedekind launched Volvo CE’s new series of Wheel Loaders. The Indian market has accepted our equipment very well and the encouraging response from the sub-continent has led us to launch our latest series in India, he said at the launch ceremony. Mr. Patrick Olney launched the PT 220 RH Pneumatic Roller. Post Volvo acquisition of Ingersoll Rand’s Road Machinery Division, this is the first time that road machinery has been launched in Volvo colors. The machine has been designed to suit the quality needs of the Indian roads giving it a quality at par with global standards. The road machinery is certainly going to roads, giving it the quality at par with global standards, said Mr. Olney.