“GST has helped material handling equipment industry”

  • Interviews
  • Mar 01,19
Material handling sector is considered to be the backbone of all core industries
“GST has helped material handling equipment industry”

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.

Related Stories

Electrical & Electronics
Chips are up!

Chips are up!

Over the past decade, the Indian electronics hardware industry has witnessed significant growth and transformation with rising manufacturing and export volumes. India's share in the global electroni..

Read more
Smart Manufacturing
Global manufacturing growth to slow down, CAGR of 3% to 2027

Global manufacturing growth to slow down, CAGR of 3% to 2027

A report by market intelligence authority, Interact Analysis says that the manufacturing decline is now expected in 2024 rather than 2026. The Americas enjoyed a strong year for manufacturing growth..

Read more
Material Handling Equipment
Collaborative growth

Collaborative growth

In January 2022, Reliance Industries bought 54 per cent stake in Addverb Technologies (a manufacturer of autonomous mobile robots, sorting robots, and automated storage and retrieval systems) for $ ..

Read more

Related Products

Dock Leveller

MATERIAL HANDLING EQUIPMENT & STORAGE SYSTEMS

Besto Material Handling Equipments offers a wide range of dock leveller.

Read more

Request a Quote

Multi Tire

MATERIAL HANDLING EQUIPMENT & STORAGE SYSTEMS

SCI Storage Solution offers a wide range of multi tire.

Read more

Request a Quote

Industrial Lifting Equipment

MATERIAL HANDLING EQUIPMENT & STORAGE SYSTEMS

Rana Material Handling Equipments Pvt Ltd offers a wide range of industrial lifting equipment.

Read more

Request a Quote

Hi There!

Now get regular updates from IPF Magazine on WhatsApp!

Click on link below, message us with a simple hi, and SAVE our number

You will have subscribed to our Industrial News on Whatsapp! Enjoy

+91 84228 74016

Reach out to us

Call us at +91 8108603000 or

Schedule a Call Back