JCB Worldwide bullish on Indian market

Ballabgarh, Aug 15 (UNI) World's leading construction equipment maker company JC Bamford Excavators Ltd (JCBEL) investment of Rs 300 crore for expanding capacity of its existing plant here marks paradigm shift and a bullish change in business plans of the company towards the Indian market.

JCB claims the booming Indian economy has paved the way for a robust growth in the infrastructure sector as it feels investments are expected to touch Rs 18,70,000 crore this year from Rs 767,000 crore last year.

''With the completion of the expansion project, the plant in Ballabgarh will become the world's largest manufacturing hub for the company, overtaking the UK plant,'' said JCB (UK) Chief Operating Officer (COO) Matthew Taylor.

The company, with a global presence across four continents, plans to invest 350 billion dollars over a period of time to tap the huge potential of the surging infrastructure business.

''We expect a sales of 70,000 units worldwide as there has been a 23 per cent YoY growth in the sales,'' Mr Taylor said.

JCB India is a wholly owned subsidiary of JCBEL and has three plants in the country, one in Ballabgarh and two in Pune.

The company has more than 275 different products worldwide but only 18 in India. ''We will introduce new products as and when the market is ready for it,'' Mr Taylor added.

India will be an important point to the company also in terms of export.''Once the plants are ready, both Pune and the Ballabgarh unit will export to countries in South east Asia and West Asia,'' the COO said.

The company is a market leader in Germany, the US, Brazil, China and India while ranking eighth in the UK market.

UNI