Aligning With Aftermarket Mega Trends

Uno Minda has built a robust aftermarket portfolio to align with the mega trends. Ashish Bhatia reports on the focus areas and the key additions driving them.

- Ashish Bhatia

Like its peers, the Uno Minda Group has worked out efficiencies to face the supply chain bottlenecks and the contingencies around skilled labour. It is also dealing with poaching from the tech industry known to have a similar set of requirements when it comes to trained manpower. In comparison to the tech industry facing the heat of a challenging micro and macro economic environment, Uno Minda and the industry as a whole are confident of tapping the diverse set of opportunities coming their way. Speaking for the former, Nirmal K Minda, Chairman and Managing Director, of Uno Minda Group is of the firm belief that the next decade will witness changes at an unprecedented pace unlike in the past four decades. Expecting the industry to scale 2-2.5x of the Gross Domestic Product (GDP), the group has well-demarcated strategies for both its OE sales as well as the aftermarket. Any diversification is undertaken only with the customer’s consent and with a suited joint alliance put in place.

Taking along JV partners, some dating back three decades, the motto is to combine the partner’s manufacturing capability and leverage the inherent low-cost manufacturing prowess. With a laser-sharp focus on localisation under the Production Linked Incentive (PLI) scheme, the company is equally concerned with the welfare of its stakeholders who aspire to penetrate deeper into the domestic market. For those stakeholders, with export aspirations, the company steps in to help bring down costs further. In addition to a strategy adopted for its OE supplies, the company has also aligned its aftermarket portfolio to the needs arising out of mega trends like personalisation, autonomous, connected, and electrified.

Aftermarket strategy