New Delhi : US-headquartered Otis will start manufacturing escalators in India from next year as it expects demand to rise due to rapid urbanisation and modernisation of railway stations, a top company official said. “We will start manufacturing escalators next year. It will be manufactured in our Bengaluru facility. By 2020 we see modernisation of railway stations, tier II and III cities are growing in population and this can bring in more next decade infrastructure growth, retail segment growth.
“All this will fuel the growth of escalators and that is why it is a strategic project for us,”Otis India President Sebi Joseph told PTI. The company is bullish on India and plans to indigenise its products over a period of time. “Otis has great confidence and belief in India. Over a period, we will indigenise most of the products. Right now, we have 40 per cent global components and about 60 per cent Indian,” he said
