Read More>> Swiss escalators and elevators major Schindler hopes to make India its global manufacturing and R&D hub, asenior company official has said.
Schindler, which is present in the country since the past 20 years, also plans to invest significantly in digitisation and data analytics.
"With the government spends increasing in airports, metros and railways, among others, we see a good growth in demand for escalators and elevators," Schindler India chief executive Ashok Ramachandran chief executive Ashok Ramachandran told PTI
Additionally, investments in the residential real estate market, apart from the commercial segment, will drive the growth of elevators and escalators, he said.
Currently, the domestic elevator and escalator market is estimated at around 80,000 units per annum, including 10,000 units of manually handled lifts.