How did you successfully manage your business in Covid times? What were the key drivers for your growth? 

The recent pandemic has hit the world to its core, be it economic tolerance, emotional tolerance or the other tolerance factors which were earlier considered as nonexistent. Doing business in India is never a piece of cake, but due to the COVID-19 infection everywhere, this piece of cake, which was already hard to achieve, even went evasive from businesses. Talking about labour shortages, increased prices of raw materials, and the unavailability of general items that were at hand earlier, made us always on our toes during the lockdowns, to survive.  

Although the time was tough, we somehow managed to take this time to clear our backlogs for the orders which were already in hand and complete the jobs with the available resources at that time. Because the majority of the labour was confined to the factory grounds, the plants remained operational, allowing us to suffer less during difficult times. 

How do you evaluate the recovery of the material handling equipment so far? 

Due to strict government guidelines, all the projects were put on hold. Once the government allowed industries to operate at full capacity, the projects that were put on hold had already revived, and upcoming projects in pipelines are also gathering pace, thus creating a great demand for the material handling industry and paving the way to good financial years ahead.

What are the significant factors impacting the productivity in your sector? 

The main factor seen is the increase in the prices of the basic commodities of industry, pursuing many businesses to expand to enrich themselves with profits from higher prices developed due to the difference in demand and supply prevailing nowadays, compensating for their losses incurred during the tough time of the COVID-19 lockdowns. 

What kind of policy/regulation/ investment support is required for the market revival? 

The major regulatory changes that need to be made now are the ones that are necessary to get the G.S.T. payout. Policies should be formulated to enhance the work of the MSME sector, like raw material price bookings at fixed prices for longer durations; enabling MSME’s to calculate the exact pricing, which is unachievable nowadays due to highly volatile raw material pricing. The government should also provide incentives to the industry for expansion of existing units. Moreover, the government should also increase the export incentive, which is very low now, to create a better environment for exporters.

Can technology and digitisation be a key factor in driving your sector’s growth? 

Upgradation of technology is the key factor to achieving success in the industry. Those left behind suffer a lot due to the average product quality and increased labour dependence. Advancement always leads to better output and great quality. The latest technology always helps the industry to achieve higher profits over traditional systems. 

How do you assess the growth prospects for the next 5 years in the Material Handling Equipment market? 

The next half decade will definitely be a roller coaster ride for our industry. As COVID-19 infections are still rolling out in big numbers, the world is trying to get back to normal. If everything remains as it is now, we tend to see a higher demand for our products, and here at Pioneer Cranes & Elevators (P) Ltd, we are equipped and ready to provide the best products and services to our esteemed customers in the committed time frame.