India offers tremendous business opportunities with its young and aspiring population, its rapidly growing middle class, its diversity and rich cultural heritage. All these aspects were dynamically explored and highlighted during the recent event-filled India Unlimited week in the Swedish capital, Stockholm.
India Unlimited was organised by the Embassy of India to Sweden with Scania as the primary sponsor. Scania thereby manifests its firm commitment to India, having since last year established a production unit for trucks and buses near Bangalore. This is Scania’s first industrial investment in Asia.
“We have established long and lasting operations in India because of the market size and potential,” says Anders Grundströmer, Managing Director of Scania India. “With a market for heavy trucks and buses as large as the European, we are convinced that India will grow to be one of our largest markets.”
Scania’s strategy is to establish a new niche in the market for premium trucks and buses by introducing the concept of total operating expenditure, measured in passenger kilometre, tonne per kilometre and cost per cubic metre. “We’re not in India to compete with the domestic brands but to introduce superior trucks and buses in terms of performance that offer operators better overall economy,” he says.
In starting production India, Scania has the aim to the greatest extent source components from local manufacturers, without jeopardising its leading quality. To that end, Scania is already forging contacts with highly skilled suppliers. “The supplier base is both competitive and efficient and has rapidly matched our global quality standards. For a latecomer to the Indian market, that has been a positive surprise.”
Scania recognises that there are a host of challenges that need to be overcome to accelerate economic growth. Yet, the hundreds of participants in India Unlimited agreed that the opportunities are boundless.