Rate of growth in eastern India is higher than elsewhere in the country.
Kolkata, Nov. 29
The economic rejuvenation in eastern India has invigorated Honeywell Building Solutions (HBS), a division of Honeywell Automation India Ltd (HAIL), to identify the region as major focus area. Already, eastern India is second - after the South - in terms of growth of the domestic market for building solutions. While the market for building solutions in South India has been growing at 34 per cent, the growth in eastern India was 33 per cent followed by North India at 23 per cent and West India at 19 per cent.
Addressing a news conference here today, Mr Tarun Ramrakhiani, HBS' Head of Marketing, said eastern India currently accounts for 10 per cent of the nationwide market for building solutions comprising products, systems and services that are aimed at enhancing building safety, security, comfort, energy efficiency and productivity. However, with increasing economic activity in the region, the rate of growth in eastern India is higher than elsewhere in the country. That is the reason the company has kick-started its current nationwide "user meets" that showcase the company's cutting edge product offerings from Kolkata yesterday. Mr Ramrakhiani said the Indian market for building security and solutions has been pegged at Rs 1,000 crore.
It was growing at 25 per cent, thanks to the boom in the real estate sector, construction in the industrial sector and increasing concerns over security, safety and the environment.
In the latest round of user meets, HBS will showcase cutting edge & innovative technologies, smart card solutions, video management solutions, asset management solutions and life safety solutions, etc.
According to him, about 700 people are engaged in HBS division of HAIL and the division accounts for 10 per cent of the company's total turnover of $ 500 million