In Retrospect: 2012
The changes in the market condition definitely made a negative impact on our growth forecast for the year 2012. Even though it can’t be said that the negative impact was significant, one had to struggle harder compared to the earlier years. One of the initiatives our company has taken is to raise the bar on quality and attempt to get customers who demand high end products. These are time consuming efforts to bear fruit and gradually it has started showing results.
Arrival of FDI
Even though the government announced the FDI investment policy sometime ago, no substantial investment has happened yet. Even if some of the major players do come in the near future, the benefit to the existing retail fixture manufacturers will be negligible. Those mega companies generally have their supply chains organized for world over. However, we look forward to the small and medium FDI investment, which should be a good opportunity for us. But I believe the Indian companies generally have the infrastructure in place. What we lack is the mindset required to achieve the quality level demanded by the global standards.
Looking Ahead: 2013
Two things need to be taken care of to sustain growth. First, put in place a standard furniture facility for mass production of fixture to cater to all mega marts/hypermarkets and low-end standard markets. Secondly, improve manufacturing facility to supply high-end/ international quality fixtures.