Can you tell us about VEGA India’s journey in India so far? What are the key growth drivers and which are your target markets in the country?
VEGA India’s ten year journey has been very interesting. Our growth is a result of our futuristic instrumentation devices, coupled with the quality pre- and post-order services, which are at par with the company’s global values. As for our target markets, the entire process and automation industry is our target market. However, our main industry segments include the chemical, oil & gas, steel, cement, pharmaceutical, to name a few.
How has the sensor market been affected since the COVID-19 pandemic? What are the additional challenges it has brought?
The nature of the pandemic has definitely caused a negative impact on most businesses. Our prediction is that it would take roughly two quarters for the current situation to stabilise. At present, we are already experiencing a decline in the inflow of order income as customers are buying only if they absolutely need to. Plus, the import is taking longer periods than usual, credit period is getting extended and many of our customers have already started revisiting & revising their project budgets. The major challenge will be maintaining a well balance in cash inflow and outflow.
Do you think the use of automation and digitalisation will increase post-COVID-19, with the constraint of social distancing norms?
Automation and digitisation are definitely bound to increase post-COVID-19, as the industry would look at less man-machine interface. The current situation has compelled us to achieve Industry 4.0 rather fast than expected, with many innovations anticipated in digital networking of machines, product and IT network.
Understanding your company’s customers involves understanding their processes, making field visits, etc, how is that going to change post the lockdown? Will you be forming a new way of executing orders from them and also with post-sales service support?
Our company has consistently been trying to reach out to its customers through various digital platforms that are available. Post-lockdown, we would continue our digital outreach through apps, like VEGA-Tools and Vega Inventory System (VIS). However, if the customers let us visit their premises, we would do so by taking care of the safety of our employees and also adhering to the safety guidelines of our customers. Our service team is already able to access our instruments installed in customer sites from their home offices and solve issues, if any. However, post-lockdown, we are fully equipped with the necessary safety gear to visit customer sites for commissioning or post-commissioning service visits.
What are your company’s plans for itself five years down the line?
Increasing our market coverage, and thereby, the market share of our products in the Indian sub-continent would be our consistent short-term and long-term plan. In addition, we would also like to increase the product portfolio of our domestic manufacturing by adding more products on our Indian shop floor.