Farnell Electronics India Pvt Ltd, a 100 per cent subsidiary of UK-based Premier Farnell plc, plans to set up more shops in Gujarat.
One of the leading multi-channel distributors of electronic components and services, Farnell currently runs its operations only from Ahmedabad in the state.
"Gujarat is one of the top five revenue generating states for the companies. While we have 300 customers in Gujarat, in near future we are aiming at a customer base of over 3,000," said Ravi Pagar, managing director of Farnell India.
Pagar added that the company boasts of a clientele comprising Reliance Industries, Enercon and Matrix Telecom in Gujarat.
For growth in Gujarat, Farnell is looking at other cities like Vadodara and Surat to begin with. The company's products include cables and connectors, semiconductors and passives, electrical, industrial control and automation, mechanical and workplace, test and measurement, health and safety, office and IT equipment.
Apart from Ahmedabad, the company has its branches in Mumbai, Pune, Calcutta, Delhi, Bangalore and Chennai.
Planning to grow by 45 per cent per annum, Pagar said that Farnell aims to garner revenue of Rs 100 crore in next three years.
So far, the company has pegged a turnover of Rs 20 crore in India.
Of the $100 million low volume electronic components market in India, Farnell aims to hold a share of 20 per cent in next three years and is banking on states like Gujarat for its plans, he added.
Pagar said the company has so far invested Rs 15 crore in India and is looking to invest an additional Rs 20 crore, as it plans to double the headcount in India to 80 by this year end accross field sales, marketing, customer support and contact centre operations.
The company's also planning to set up a warehouse in Bangalore in the next two quarters at an investment of Rs 7.5 crore to take up stock keeping unit (SKU) capacity to over 50,000 in India.
Worldwide, the company offers customers a one-stop shop with over 430,000 stocked products from around seven warehouses and over 3,500 suppliers, providing a range of value added services.
