Bajaj Electricals is aiming at boosting exports to more than 5 per cent of overall revenues in the next three to five years, and between 10 to 15 per cent by 2030.
The company’s exports have been impacted by the changing geo-political issues and also on account of countries halting their imports.
“Today, exports form less than 2 per cent of our total business. It has been impacted by currency devaluation in many parts of the world, and geo-political issues . Some target markets such as Sri Lanka and Nepal have stopped imports, but next year should be good.,” said Anuj Poddar, Managing Director and Chief Executive Officer (CEO), Bajaj Electricals.
The company estimates export growth to step up in the coming years.
With consumers preferring to buy electrical goods and appliances that are durable and long-lasting, the company has started manufacturing specially engineered products that last.
“We are engineering our products so that they last for a long time. We offer a 10-year warranty on tanks, which is the most important component in water heaters. We have introduced mixer-grinders that come with blades that have lifetime guarantee. Consumers are looking to buy appliances that are durable, which is the Build for Life promise,” added Poddar.
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Published on November 28, 2022
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