Swiss liftmaker Schindler aims to employ as many people in India as it does in China, CEO Silvio Napoli told Reuters. “Our strategy has always been to manufacture where we build, install, and maintain, as long as there’s enough scale,” he said.
The company may need to build more training centers in India, in addition to the three it already has. He added that the size of the Indian market justifies Schindler’s expansion. He predicted that the Indian market would continue to grow.
“India has a similar population to China but is still only one-sixth or one-seventh the size of the Chinese market,” Napoli said. “That shows the potential.” Currently, Schindler has about 6,000 employees in India, but the company plans to increase this number to around 10,000, matching its workforce in China.
Since entering the Indian market in 1998, Schindler sees India’s urbanization as a major growth opportunity, especially as China faces a real estate crisis. In the second quarter, Schindler reported a 5% to 10% decrease in new installations in China, while installations in India continued to grow.
Napoli mentioned that Schindler’s strategy is to manufacture and maintain where they build, and the company may need to build more training centers in India in addition to the three it already has. He highlighted the potential in the Indian market, noting that while India has a similar population to China, its market size is only one-sixth or one-seventh that of China.
Schindler is a leading global provider of elevators, escalators, and moving walkways, established in Switzerland in 1874. The company is renowned for its innovative approach to vertical transportation and urban mobility solutions, serving a wide range of clients, including residential, commercial, and industrial sectors.
Schindler is dedicated to sustainability and efficiency, continually developing advanced technologies to enhance safety and performance. With a strong presence in over 100 countries, Schindler employs thousands of people worldwide, ensuring quality service and support. The company’s commitment to excellence and customer satisfaction has solidified its reputation as a trusted name in the industry.
