At bauma India, Mitsubishi Heavy Industries v VST Diesel Engines launched a new engine model D03CJ that can meet the most stringent emission norms of the world. Kenji Kawamoto, Managing Director, shares more on the company's plans and market outlook...
One pathbreaking offering: Our upgrades in diesel engines so far is not affected our identity of strong performance, ultimate quality and reliability. On the cost front also, we could deliver much more than we thought in the last 10 years, with the help of our Indian presence.
Demand drivers in 2019: Today our major contribution in India is for agricultural segment (tractors), which is seeing unprecedented growth in the last few years and next year forecast is also positive. We are supported by the growth coming from construction equipment. Our half of production goes for export markets. Thus, our focus is diversified well.
Announcement contributing to the company's growth: The major call we took in 2018 is, to start supply of EU Stage V (Europe) and EPA Tier 4 (North America) engines, right from January 2019 v exactly at the time, in which these norms will become effective.
Challenge for the company in 2019: The cyclic nature of Indian agricultural and construction industry is a challenge. Though predictions are positive, the upcoming election will play a major role. Also monsoon is one more important factor for tractors. Recommendation for the construction equipment market growth: Education on small equipment options and pushing the new machine types that are not so popular in the Indian industry may help to widen the market further.