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Swedish industrial group Sandvik plans to step up growth in India as part of its strategy to increase focus on emerging markets.
“Growth has been too slow in the emerging markets. We need to grow more rapidly,” Mr Olof Faxander, President and CEO, Sandvik AB, said. This may see the ratio of investments in developed markets and emerging markets tilt in favour of the latter in the coming years, he said.
“We have fantastic opportunities in all our product areas. The industrialisation and urbanisation of China and India is going to require a lot of raw materials. The energy demand will increase sharply and Sandvik will be a partner and support the growth,” he said. Mr Faxander took stock of the company's operations at the Sandvik Asia headquarters at Dapodi, but declined to comment on specific plans. “I will know in a year's time. Now I am very much in a listening role,” he said.
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