Growing in the Indian market
Sandvik entered the Indian market more than 60 years ago. Today, India is the company’s eleventh biggest market.
When Jawaharlal Nehru, India’s first prime minister, visited the Sandvik headquarters and factory in Sweden in the late 1950s, he invited the company to establish itself in India. Initially, most of what Sandvik produced in India was destined for export but as the country embarked on a process of modernization and rapid growth, domestic sales grew.
India as a key market for Sandvik
Today India is the company’s eleventh market. Sandvik is supplying mining equipment to leading operators and machining solutions to customers in general engineering, aerospace and automotive.The hub of research and production is in Pune, outside Mumbai. Other sites include Chiplun, where a carbide recycling center recovers tungsten from used inserts to produce powder for new inserts. Rock tools are produced in Hyderabad, while Sandvikowned Miranda Tools services mid market clients from the facility in Ankleshwar.
Export and domestic focus in Sandvik’s production
That aside, most of the production from Sandvik Machining Solutions is exported, whereas the bulk of what is produced by Sandvik Mining and Rock Solutions and Sandvik Rock Processing Solutions is sold in India. One example is the recent order from Hindustan Zinc to supply underground mining equipment at a value of approximately SEK 345 million. The contract expands Hindustan Zinc’s fleet of Sandvik equipment with additional development drills, production drills, trucks and loaders. In addition to the equipment order, the deal also brings a significant aftermarket value.
Strong position in the Indian market
“We have a leading position in the Indian market, where we are known for our high quality, high touch service offering,” says Manik Karn, Strategy Manager at Sandvik Machining Solutions. “The Indian machining sector is one of the fastest growing in the world (7 percent CAGR 2023-2030), enabled by encouraging government policies for the manufacturing sector.”
India is pushing to be a major manufacturing hub for the world. This provides a strong growth opportunity for the whole machining sector, including all our machining brands.
India has a strong history of providing Sandvik with global talent and Sandvik runs a comprehensive CSR program in the country. It covers projects within education, environmental protection, and equal opportunities. For example, Sandvik actively promotes an increased share of women in the workforce, offers daycare for the employees’ children, and transportation to women who work night shifts.