A world leader in trailer couplings that wanted to set-up base near its key customer in India
About the Client
The client is a Germany company who is a leader in the manufacturing of truck and trailer couplings. It is a supplier to companies such as Tatra, Narco, Isuzu, VW, Mitsubishi, Hyundai, Iveco, Daewoo, DAF and Mack. The client wanted to set up a base in the Eastern part of India and needed help in identifying a suitable location.
The client wanted to identify a location in eastern part of India to be based close to one of its key customer. Since, Eastern India is new to foreign investments the State level approval procedures were not clear and this was posing to be a challenge.
TECNOVA’S APPROACH AND SOLUTION
Tecnova conducted an in-depth location feasibility analysis & secured the land for the client, meeting the pre-defined criteria for manufacturing, infrastructure and logistics requirements. We also formulated a detailed Business Plan including a forecast for next five years.
In order to provide a fast-track entry, Tecnova helped the client set up India operations in the form of a subsidiary company with all necessary FIPB approvals. We also finalized the vendors & contractors and obtained the needed manufacturing approvals (state & central) on behalf of client. In addition we hired a strong start-up team including country head & senior managers to help client push business in India.
The client is a successfully operational in India with a fully-functional production facility in Jamshedpur. The company has established itself as a market leader with a wide dealer network in the industry.