Hitachi Koki has announced its aggressive business plans for India. Now rebranded as HiKOKI, the company’s India arm has been operating since 1996 and is the largest and fastest growing subsidiary in Asia (after Japan). HiKOKI India has registered steady growth over last 20 years CAGR of 16 percent. It is aiming to scale up its dealer count from 600 to 1000 by 2020. During the Financial year 2017-18, HiKOKI India sold 3,60,000 tools and aims to sell 4,00,000 tools during FY 2018-19. Simultaneous to its rebranding efforts, the company is also launching new technology Multi Volt tools. Identifying a visible shift from corded to cordless tools among end users, HiKOKI is planning to introduce affordable, user-friendly cordless and DIY tools in the India market.
According to Dattatraya Joshi – Executive Director & Secretary, Hitachi Koki India Pvt Ltd. “The power tools market is estimated at Rs.4000 crore and is growing rapidly at 7 percent, and is projected to grow at a steady pace for the next 10 years. Backed by powerful govt. initiatives to boost the manufacturing sector such as Make-in-India, Skill India etc., India gives us a unique opportunity for growth, innovation and contribution when compared to other developed countries. There is a growing demand for quality and world-class tools which can enable India to compete globally.
"Keeping this demand in mind, we are strengthening our business and customizing our offerings for the Indian market and its unique requirements. We are foreseeing growth opportunities shifting to Tier II and III cities hence, we are looking to strengthen our base in this area and increase our market share. Overall, we are aiming to make India our growth engine for the coming years and our dynamic new partnership with KKR is further enabling us to accelerate this growth and pursue our goals more aggressively.”
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