Caterpillar is committed to grow construction equipment business in India, said a top official.
“India is a top priority for us. It is growing and maturing,” said John A Fallows, managing director, Asia Pacific, Global Construction and Infrastructure, Caterpillar Asia Pte. Ltd. “It is the largest construction equipment market in the world after China.”
The construction equipment major was focussed on improving its market share to become a leader in India through expansion, Mr. Fallows added.
Upbeat on India
“We will continue to invest the best of our technologies and experiences to meet the unique demands of India and our customers,” he noted.
On Thursday, Mr. Fallows launched the next generation excavators 20-tonne size Cat320D3 and Cat323D3 that are manufactured in Tiruvallur unit, near Chennai. These machines offer up to 7% extra hydraulic power, 15% increased productivity, 15% lower fuel consumption and 5% lower maintenance costs, according to a press release.
“Caterpillar strategy is to make its customers successful by using its products,” he said.
To a question, Mr. Fallows said: “We have a strong order book. Last year, this sector grew by 20% and we grew higher than the industry. We have orders for the entire products range and are not phasing out any of them.”
Gurman Reen, director - sales and marketing, Global Construction and Infrastructure, Caterpillar India Pvt. Ltd. said the firm had six manufacturing units in India and it would take care of production needs for the next 24 months. A sum of $1 billion has been invested in the Indian facilities over the last decade.