Betting big on India & China despite downturn

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: He could be counted among a few top executives who have been associated with a company for more than three decades. Tom Johnstone, president and chief executive officer of SKF Group looks at India as an important market for the company. SKF Group is a global leader of automotive bearings and supplier of products, solutions, services and lubrications system,

He says the company looks forward to both India and China as as both the countries have established themselves as hubs for automobile manufacturing, offering big opportunities to SKF.

Johnstone says the group has interests in 40 different industrial segments. “We are not just one product family. India is a growing market. We are investing in two new facilities at Ahmedabad and Haridwar. Consequently we will raise our workforce to 3,300 from the current 2,600 over the next two years,” he says.

Johnstone has a piece of advice for those in the automobile business. He says they need to be flexible and ready to face the changes ushered in by the market forces. “No doubt, it is a difficult business environment but there are certain sectors such as aviation and energy, which are not slowing down. But, in the automobile business, which is bearing the brunt of the crisis, the real challenge is to protect profitability and the cash flow, “ he says.

Elaborating on the measures that SKF has taken after the global financial turmoil, Johnstone says the company is considering restructuring its manufacturing units at various plants. “We will adjust our manufacturing according to the demand available in the market by cutting our production.

Teaching the art of gift packaging

ABRainchild of entrepreneur Shalini Beriwal, Magnificence is a designer packaging firm and gift boutique. Set up in 2002, Magnificence has now gone a step ahead and is setting up the country’s first professional packaging institute called Magnificence Academy of Packaging Professionals (MAPP).

“Our goal is to redefine gift packing as a form of art,” says Beriwal. She adds that gift packaging is a booming industry. She elaborates that since gift packaging is still at its nascent stage, there is enough scope for growth and expansion. “I aim to make packaging industry a universally recognised business like fashion industry and lifestyle refinement. This is one of the reasons why we have established India’s first professional packaging institute, MAPP,” she says.