What kind of competition you face in this market?
There are different types of operators in the market, and every company has to define its product positioning. The fact that Indian market place is price sensitive can’t be denied, and therefore the competition in Indian market is the most challenging on the price front. Technological advancement is increasingly getting paid for. Reliability attracts premium, and engine exhaust norms and safety features are getting implemented. This is welcome as it leads to quality competition. The fact that a host of European and Japanese players are getting increasingly aggressive establishes this fact. The competition from Chinese players can’t be wished away. Products need to offer value proposition to beat the “low price” tag. Customers will pay for reliability, low owning, operating cost and high uptime through quality service because the projects come with deadlines. Time has a premium like never before; therefore, price is not going to be the only attribute; other deliverables too will get due weightage.