INDIAN MARKET FOR SWITCHES & ACCESSORIES HAS EVOLVED
HOW HAS THE ELECTRICAL SWITCHES SEGMENT CHANGED IN RECENT YEARS? Ramesh Jain – “In recent years, there has been a shift towards smart switches that can be controlled through a mobile app or voice command. Some of the major players in the Indian market have introduced switches that offer features such as dimming, scheduling, and remote control. There has also been a focus on energy efficiency, with companies offering switches that use less electricity and are more environment friendly. It will be appropriate to say that the Indian Market for switches and accessories has evolved tremendously.” HOW HAS GM MODULAR INNOVATED ITS PRODUCTS? Jayanth Jain – “In 2004, GM introduced the first modular polycarbonate switches, called ‘Four Five’, ushering in an industrial revolution. It has further introduced revolutionary products like new generation Wi-Fi switches, home automation solutions, LED lights, fans, Bluetooth music players, home security products, appliances, and much more with the aim to provide the best design and comfort.” Kumarpal Banda – “GM has been able to create a benchmark in the industry with a wide and impressive range of products across different verticals. There are in-house divisions for branding, manufacturing, and product design in place and every product passes a thorough screening process, safety tests, and quality assurance evaluations, ensuring the highest standards.” WHAT ARE THE COMPANY’S FUTURE PLANS? Jayanth Jain – “GM’s turnover has clocked annual growth of 20% YOY in the past 2 years. With the addition of multiple products and categories in the home electrical space, the company forecasts a CAGR of 25% in the year 2023-24. The company will undoubtedly add more innovations to its portfolio in months to come.” Kumarpal Banda – “The brand is also foraying into smaller appliances like clothing irons, geysers etc. The range of products that GM offers is unmatched in the industry. The design, safety, and convenience, complements the focus on R&D in each of its flagships.” Ramesh Jain – “GM continues to launch new products in each of the verticals as per the needs of the market. In addition, GM has also expanded geographically. Today, GM is available across UAE, Spain, Kenya, and Nepal. Very soon, GM will be present in new markets like the UK, Australia, and Canada."
Tags : Indian market accessories Ramesh Jain Chairman Jayanth Jain MD & CEO Kumarpal Banda Director GM Modular