Concerning mining productivity and efficiency, fleet management of equipment allows customers to operate the machine or equipment in the most efficient way possible, says Dimitrov Krishnan, Managing Director of Volvo CE India.

What innovations are happening at Volvo? What are their unique features?

Volvo recently introduced the EC550E hydraulic excavators for mining machinery and applications. It’s a 55-ton contemporary hydraulic machine with electro-hydraulic controls that cut fuel consumption dramatically. It has set new standards for productivity, cost of ownership, and end-user operations. It is a very successful product in the mining business. Other items and equipment created for the mining sector include stage-IV, stage-V, and CEV-IV machinery, such as excavators, wheel loaders, and others.

How are the fluctuating fuel and metal processes impacting the equipment procurement pattern?

The geopolitical situation and global inflation issues remain a concern for various businesses, including manufacturers like us. Moreover, the steep increase in steel prices in the last two years has hugely affected the industry. Of course, the government is considering options, such as raising tariffs on steel exports and iron ore, which will reduce overall costs and make them more accessible and manageable. This tariff should remain to balance price stability, and we hope it remains the same. Additionally, it should be stable and depend on oil prices, according to participation in all aspects.

Furthermore, as the world moves toward climate change with environmentally friendly products and technologies, innovating advanced and, environment-friendly machines and equipment become vital. This brings a lot of joy to the automotive industry and our industry.

Given the current oil prices, our products and equipment must be fuel-efficient and highly productive. Volvo CE products are well-known for their exceptional fuel efficiency in this market. As a result, there is a sizable demand for high-efficiency, fuel-efficient products.

How far is efficiency a critical factor in equipment performance?

The effectiveness and performance of the equipment are heavily reliant on fuel efficiency. It also requires good engines and hydraulic and electrical systems that intelligently optimise power. We must also consider strategies to reduce the cost of fuel-based equipment. As a result, equipment and machine efficiency remain critical. In the future, efficiency will continue to be crucial in supplementing electrification requirements.

Digitalisation is impacting all kinds of businesses around the world. How is it transforming mining businesses?

Digitalisation affects every aspect of our business, including procedures, production, and manufacturing; managing the supply chain; adding materials to the system; and checking inventory availability, among other things. Digital technologies are also making a significant difference in effective fleet management on the consumer side. Regarding mining productivity and efficiency, fleet management of equipment allows you to operate the machine or equipment in the most efficient way possible.

Furthermore, we offer a telematics system called Caretrack that helps clients increase fuel efficiency by providing feedback on their operational characteristics, how the machine is used, and whether there is any improvement in action using data analytics. It can also help users make productive use of the fleet’s machines.

Looking at the economic and regulatory policies, what are your forecasts for Indian mining and quarry businesses?

We must maintain a stronger emphasis on safety measures. Customers should also search for products and solutions that are guided by mining safety authorities and are implemented as part of the deliverables. Volvo provides fully equipped quarrying, and mining equipment with DGMS-related safety components added, allowing the customer to become fully compliant. This is different from the total market. The primary goal is to ensure that people take regulations seriously when discussing safety at mining and quarrying sites. Human safety and emission control will become increasingly important in the future. As a result, businesses must adhere to it. Even the government and business players are continuously working to ensure that regulations are followed.

What are the innovations we can expect from you shortly?

Volvo’s innovations are continuously focused on improving fuel efficiency and reducing the environmental effect of our products. You may expect even more fuel-efficient and productive equipment from us in the future and products for sustainable power solutions. And, because we are confident that we offer the best level of productivity on the market compared to potential customers, we will continue to introduce new equipment to the market that can be utilised for both wood construction and mining for our customers.

On a more positive side, even though the last two years have presented numerous hurdles for this industry, we have performed well and are increasing our market share. As a result, we’re looking forward to 2023. On the financial front, the government is investing in this area by giving significant sums for infrastructure development during the Union Budget 2022-23 to improve our infrastructure. Slow growth is positive, and the market will soon take up. And we’ll have a solid year before 2024. And the very rapid growth in the next year. And the entire industry, as well as the supply chain, can benefit from this development. That market is already the third-biggest in the world, but to be regarded as one of the largest, increased production and R&D investments are required.