Japan’s leading power tool manufacturing company Hitachi Koki (HiKoki) will soon start selling cordless tools to the Indian market, a company official said.
Tomoaki Moro, Managing Director, HiKoki said, “In view of the shift to cordless tools, we will soon introduce affordable, user-friendly cordless and DIY (do-it-yourself) tools in the India market.”
Unveiling the company's business plan for its 22-year-old Indian subsidiary, Moro said the dealer network would be expanded to 1,000 by 2020 from 600 currently, with 100 authorised service centres across the country.
"The power tools market, estimated at Rs 4,000 crore, is growing at seven percent and is projected to grow at a steady pace over the next 10 years," asserted Dattaraya Joshi, Executive Director, Hitachi Koki India on the occasion.
The company plans to launch multi-volt tools for its Indian customers and end-users. "We aim to sell four lakh tools during this fiscal (2018-19) as against 3.6 lakh last fiscal (2017-18) in the Indian market," added Moro.
The Central government's flagship schemes like 'Make in India' and 'Skill India' offer huge opportunity for growth and innovation to the manufacturing sector across the country. With an increase in demand for power tools in Tier-II cities and Tier-III towns, the company is set to strengthen its base to increase its market share.