Material handling sector is considered to be the backbone of all core industries. The sector contributes in a big way to improve the overall efficiency by ensuring seamless movement of goods at the production site and consequently and, thus, plays a vital role in increasing the overall productivity of any company. The material handling equipment (MHE) deals with continuous movement of equipment, conveyors, transfer cars, etc and Insu Tech specialises in the manufacturing of the power transmission system, that are considered to be the ‘life-line’ of MHE. In this interview, Suchit Shah, Partner & Head – Business Development, Insu Tech Corporation, tracks the development in MHE sector and contribution of Insu Tech to the growth of MHE sector.
What types of products/services do you offer in material handling space?
We manufacture array of products for power transmission system in material handling sector such as drag chain system (polymide/metallic), DSL system (shrouded/angle/rail/copper head rail), Festoon system, rail fixtures, spring buffers to name a few.
How do customers benefit from your products/services?
Insu Tech Corporation is a ‘one stop solution’ for all power transmission requirement in material handling sector. Our wide range of products are an apt solution for most of any applications in most arduous operating conditions, be it steel, power, cement, port, auto or any other industry. Insu Tech excels in providing complete turnkey solutions.
Why is Material Handling Equipment (MHE) industry important for the growth of the country?
Material handling sector forms the backbone of all core industries like steel, power, cement or auto. Material handling sector contributes in a big way to improve overall efficiency by ensuring seamless movement of goods at the production site and consequently, plays a vital role in increasing the overall productivity of any company.
How has introduction of GST helped the MHE industry?
GST implementation has not only helped material handling equipment industry, but has got the entire nation on one platform, where there can been healthy competition across sectors irrespective of geographical location within India. Besides with lesser compliances the entire process has become more streamlined especially for SME players with limited manpower. It has, thus, resulted in its truest form ‘One Nation One Tax’.
How is automation and robotics aiding the growth of material handling equipment industry?
With continuous technology development happening all around us, and the major focus being the efficiency for the Industries, automation & robotics is the way to it. With automation & robotics, the overall downtime will be practically zero and dependency on manual labour will reduce, thus helping boost the organisational efficiency.
What are the challenges faced by the manufacturers of MHE in India?
The liberal economy has its own pros and cons. The major con being competing with the Chinese manufactures. With many Chinese manufacturers making in-roads in the Indian market, maintaining the price point with quality products is one of the major challenges faced by the MHE manufacturers in India.
The other challenge faced by the sector is limited innovation and new technology development, as a result of resistance by the end clients to accept new form of technology.
How do you intend to grow your business further?
With a view to expand its existing portfolio of products mix and to be able to cater to the demands of its clients spread globally, the company plans to setup its new state of art manufacturing facility in Gujarat in next three years. This expansion plan comes in sync with the Indian Government’s growth statistics of major core sectors at 8 per cent CAGR in next 5 years.