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Swedish equipment maker Atlas Copco expects India to be No 3

Press Trust of India  |  Pune 

Sweden-based and plans to make its hub and expects the country to be its third largest market in global sales, a top has said.

The company, which specialises in of compressors, pumps, vacuum cleaners and tools used in the industrial segments, has been present in the domestic market since the past 60 years and has facilities in Pune, and

"Currently, is the fifth largest market for us. Considering the higher economic growth, we see large demand for our products. We hope going forward, will be at number 3 for us in terms of revenue, President and CEO told here.

He further said India, with its largest talent pool with engineering skills, will also be its going forward.

"India is no longer a mainly because of the kind of talented engineers the country produces. We are more of an engineering company and India is now a place where we will innovate, add value and create IPs," Rahmstrom said.

The vacuum and compressor businesses, he added, have significant potential here and the company is involved in most of the prestigious projects across the country.

India, which has over 20 offices, reported revenue of Rs 3,400 crore as of March 2018 and has over 2,000 employees.

Currently, export from India is 15-17 per cent of sales which is likely to grow in the coming years.

"We will continue to invest here. We already have scope for expansion at our existing facilities, and if need be we will add more manufacturing units. Our aim is to also increase the exports from here," he added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, September 16 2018. 12:50 IST