European gas turbine maker ,m is quite optimistic about Indian growth story. Martin Prickett, Regional Sales Manager, shares his views on global business scenario and the company's expectations.
Overall what is your perception about the Indian power sector, especially with regard to gas based power generation?
The Indian Market at this moment is very flat, there is much happening there. I guess you would have felt that. There are several issues with regard to governance and other issues exarcebating this problem, shortage of gas is the main one, although people do talk about the high price of gas. I think the main issue is not the high price of gas as much as the shortage of gas. We have clients out there who are looking to invest. They are looking to install cogeneration plants but they do not have the allocation of gas to do so. So I would say that it is the shortage of gas which is the problem.
How have you positioned yourself in the Indian market and which areas do you have the maximum reach?
Within India, we have not had a sale in the past two years. Our last sale was actually to DLF in Gurgaon in 2008. After that we still continue to talk to other companies such as various paper mills, sugar companies in the line, chemical companies but they are just not, no investor. The only people at the moment who are actively looking at projects are the ONGC in particular we have got a few projects which are nearing provision and should be closing very soon.
If you compare the present scenario in our country to other countries such as Malaysia, Korea or other African developing countries how would you grade it?
Difficult! I do not actually work. We do not operate in markets other than India and South Asia. We obviously operate in Europe but that is the developed market and material market. I have seen here than things are somewhat sluggish here that they are elsewhere bearing in mind that India has a huge power shortage problem. So really there should be a lot more going on in the market space. I believe, there should be a lot of more investment in power generation than it is actually at this moment. I am not in a position to compare it with what is happening in Malaysia as we do not have operation over there.
How big is your business globally and in the Asian region as well?
Globally we are doing about $ 200 million in a year. If we talk about Asian market the flow is not regular at this moment. For example there is one year it will be nothing, another year it could be 10 million. We had anticipated by now it was going to be lot more than that, the last two years the market has been completely flat because of shortage of gas and of course to be fair it is not just Indian market, it is actually the global market as well where turn down has been witnessed. The companies are not investing in India as much as they might have done although you still have growth here.
Going ahead what kind of growth plan do you have?
Within India, we are just maintaining our presence. However, the market will change. The market is going to change and I would hope that it is going to change in the next two years. We are optimistic about the Indian market. People should be looking now because hopefully they are looking forward to 2014 and you know they want to be ahead of the game they should be investing now for next year or at least thinking about it.
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