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L Krishnan

Managing Director

TaeguTec India

1 Rating

FUTURE TRENDS IN INDIAN MANUFACTURING SECTOR We are very optimistic about business growth

Jan 28, 2021

L Krishnan, Managing Director, TaeguTec India - We see demand levels reaching close to pre-COVID levels and expect them to sustain (Interview by Juili Eklahare)

With the year 2020 now over and done with, what were some of your biggest learnings from the year? How will these learnings help you grow your market position in 2021?

The pandemic has taught us many indelible lessons, including the importance of risk management and safety. The safety of employees, associates and other stake holders has taken centre stage in various risk management discussions now more than ever before. This should now remind us to factor in these risk management practices into our normal risk management functions – pandemic or otherwise. Whether or not these learnings help one’s market position grow, they will certainly get companies on a stronger footing to face such uncertainties or ‘black swan’ phenomena in the economy.

What is your outlook on the current state of the industry? Do you foresee a change in market dynamics? In what ways are you expecting the market dynamics to metamorphose in the coming year?

The Indian economy and industries are posting a smart recovery post July 2020. We see demand levels reaching close to pre-COVID levels and expect them to sustain. Overall, we are very optimistic about business growth opportunities in 2021. Having said that, it still remains important to stay prepared to face any unlikely disruptions.

What changes do you intend to bring into your organisation to ensure it adapts to the evolving market competition and meets the changing customer requirements in the future?

Our organisation is pushing ahead in its drive to increasingly digitise operations and introduce automation in various processes in order to make them stable & dependable. This will also help us significantly to improve customer service with our various physical and digital tools.

In the year 2021, what according to you will be some of he big ideas that would make their way into the market, in terms of advanced technology adoption, innovation, shop floor operations, workforce management, skilling, upskilling & reskilling, as well as supply chain management?

Under the umbrella of SFEEDTEC, we have launched, a new range of high-performance industry solutions that will help customers remove bottlenecks and improve productivity significantly in applications, like turning, milling & drilling. We are confident that these products will help us to aim for and achieve massive productivity & cost reduction targets. Our entire effort is focused on enabling customers to use our tools most efficiently in their shop floors.

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