Shrenik Sutariya, Director, SVA Formwork Systems Pvt Ltd believes the existing shortcomings in demand and supply can be tackled by streamlining the supply in league with the market demands.

What is your strategy to expand business for the existing product range of Formwork Systems?
With the current market condition, we have observed that the demand for our products has not been tapered down but the timeline purchase cycle has increased. Considering the same, we intend to keep our products as close to demand as possible. It includes developing a physical presence in terms of products and service close to the demand point so that we are able to fulfill the demand faster and provide hands on-site services.

What are the challenges you see are faced by the industry in dealing with upcoming demand and supply?
The overall industry is going through a liquidity crunch. Although the demand has not reduced drastically, it has been fragmented which has lead to excess capacity from supply-side. To tackle same, we intend to develop a presence as close to demand as possible.

What is your expectation from the industry bodies and policymakers to capitalise on the present market?
In such a scenario in our Indian market where there is an inherited demand for engineered formwork products, the role of industry body should be to develop and share awareness about the same in the market. The role should also extend to enable policy makers to encourage the inventive growth and manufacturing of the products across segments, for example, increase the capital limit for a scheme like MUDRA. Although recent steps by the government would surely encourage the same but we feel this is just the beginning. We as stakeholders need to do more to cope up and compete with global manufacturing giants.

What is your company’s outlook for 2022?
Considering the current change in policy by the government in terms of taxes and new manufacturing facilities, we believe that the market looks positive in short terms but to continue this momentum in a little longer time frame, the industry needs to develop capacity in terms of supply chain and finance to achieve and maintain this full potential.

Shrenik Sutariya, Director, SVA Formwork Systems Pvt Ltd