Indian operation to maintain high double-digit growth: KONE India MD

KONE Elevators India, a subsidiary of the Finnish multinational corporation KONE Corporation, on Wednesday said that it will continue to grow at a high double-digit rate in India, despite cost pressures, as demand from the residential and infrastructure sectors remain robust.

The company has also announced the expansion of its Kolkata office, which serves the eastern region and export markets in Nepal, Bangladesh and Bhutan.

"In 2022, we had grown strong by over 15 per cent and the growth trajectory will continue as India's growth remains strong. We aim to grow between 15-17 per cent in the current fiscal year," KONE India MD Amit Gossain said.

He noted that the company's market share is currently at 25 per cent in the segment it operates, and that new technology-backed products and services will help push the market share further.

Gossain expressed optimism about the Indian market, saying that it is the second largest market after China in Asia and that KONE has a presence in 60 .