Dattatraya Joshi, Executive Director & Secretary, HiKoki Power Tools holds a very optimistic view for the future of the power tool industry and points out all the players in the power tools industry are working towards bridging the price gap between corded and cordless tools.

Given the market conditions what are the emerging technologies/products in vogue?
There is a growing demand for quality and world-class technology tools which are more energy efficient and user-friendly and having all enhanced safety features. which can enable India to compete globally.

There is growing demand of cordless tool driven by powerful Li-Ion heavy-duty battery which is more powerful and last longer.

What is your strategy to expand business for the existing product range?
We are foreseeing growth opportunities shifting to Tier II and III cities hence, we are looking to strengthen our base in this area by expanding our channel and increase our market share.

We are also introducing a range of affordable tools to cater to their requirements.

What are the new products you are introducing in the market this year?
Our latest cutting-edge technological offering to the power tools industry is “Multi Volt,” a powerful 36-volt LI-Ion battery platform offers the most advanced state of the art battery technology. Multi volt systems deliver the next generation of high-powered cordless power tools using high output Lithium Cells and fitted with smart auto switching between 36 V high powered cordless tools as well as powering the existing 18V gear

The Multi Volt series is characterized by being a compact and light cordless tool that has power equivalent to AC products.

What are the challenges being faced by the industry in dealing with the upcoming demand and supply?
The demand of power tools is more diverse. The requirement of power tools has increased in the B&C cities and it presents the challenges of offering a good quality product at an affordable price. Whereas the demand in a city are shifting towards cordless power tools with Li-Ion batteries, all the players in the power tools industry are working towards bridging the price gap between corded and cordless tools

What is your expectation from the industry bodies and policy makers to capitalise the present market?
India is an attractive hub for foreign investments in the manufacturing sector is expected to rank amongst the top three growth economies and manufacturing destination by 2022.

Backed by powerful govt. initiatives to boost the manufacturing sector such as Make-in-India, Skill India etc., India gives us a unique opportunity for growth, innovation and contribution when compared to other developed countries.

The biggest roadblock the industry is facing is the lack of skilled workforce which is pegging the growth of our manufacturing industry. Once we have the skilled workforce using the latest tools and technology, we can match any industry standards and we can get the highest output.

What is your company’s outlook for 2022?
The future of the powerful tool industry looks very bright and we hold a very optimistic view for the future of this industry. There is also major push for infrastructure development and these initiatives will provide the right impetus and conducive environment to the power tool industry to boom. GST implementation has also helped in making the market more organised and this will benefit the organised players in the longer run.

We are looking to expand our operation and have plans to cater to Tier II and Tier III cities requirement. we are aggressively working on our product portfolio and strengthening our team. We have been growing at CAGR of 16 per cent and we expect this growth to continue till 2022.