Metso India eyes 20% revenue from exports by 2015

India is a better destination for manufacturing products and sustainable services compared to other nations, says Sudhir Srivastava, Senior Vice president, Metso Asia

Technology provider to the mining sector, Metso India is aiming to increase share of exports to revenue to around 20% by 2015 by focusing on Asia Pacific, European Union and the Middle East markets.

 

"Our Indian operations clocked 200 million euro in revenue (Rs 1,574 crore) in 2012. Exports as percentage of net sales stood at 12.9%. We are aiming to generate 20% of our revenue from exports by 2015," Sudhir Srivastava, Senior Vice president, Mining and Construction, Metso Asia, told PTI.

 

The Finland-headquartered, Metso has spent around Rs 450 crore in India since setting up base in 1992 for putting up manufacturing facilities around India, primarily at Alwar in Rajasthan and at Ahmedabad in Gujarat. It has also recently invested Rs 40 crore for expansion of n Ahmedabad plant.

Metso's renewed thrust on exports is not because of the fact that India's mining sector is currently plagued by a host of issues including the ban imposed by Supreme Court on iron ore mining in various states, but because India offers skilled labour and better costs compared to its targeted export destinations.

 

"With its skilled labour and modern technology, India is a better destination for manufacturing products and sustainable services compared to other nations. Hence, we want to create it as a base for exports to global markets," he said.

 

The Indian market, he said, still offers a good potential for growing business as the long-term fundamentals of the country remain strong.

 

However, in 2013, revenue of the company would likely to remain flat at best, he added.