While efforts are on to attract outside investors in Goa, expansion plans by the Godrej Group, one of India’s most reputed business houses, may just be the stimulus for future investments into the state.
Godrej in Goa is in an expansion mode. The group is increasing its capacity in its lock division significantly, said executive vice president and business head Shyam Motwani, Godrej Locking Solutions & Systems on Friday.
Speaking to the media, Motwani also said, “The capacity augmentation is through optimum utilisation of its existing space. Besides capacity build up, plans are also on to modernise operations by automating the manufacturing process. The automation is aimed at improving quality and increasing productivity. It will be completed by 2020 and future plans are to automate assembling.”
Godrej’s lock manufacturing operations are spread across three plants, in Madkai, Tivim and Kudal in Maharashtra-Goa border, added Motwani.
“Goa is the only production hub of all Godrej locks sold within and outside India. While the Madkai factory (mother plant) is for manufacturing the other two plants are for assembling. Godrej is interested in increasing it lock manufacturing base further subject to availability of land,” said Motwani.
“The Madkai factory is fully integrated and the largest lock factory in India. In the world it ranks third largest in size. All machinery and components that go into a lock are manufactured in-house,” said Motwani.
It is also environment friendly with zero effluent discharge and eco-friendly processes, he added.
“Locks are the first product of the Godrej group that over the years has diversified into several sectors. Godrej Locking Solutions is a business unit of Godrej & Boyce Manufacturing Co Ltd. It is the oldest business of Godrej & Boyce which has 14 business units and is the holding company of all Godrej Group Companies,” said Motwani.
Lock are the first devices for safeguarding the home however the industry is fragmented with 65 per cent of the market captured by the unorganized sector, he added.
“Godrej Locks has a market share of 35 per cent among organised players and is looking to raise its share to 50 per cent. With the construction industry coming out of recession and mega trend of urbanisation, demand is expected to increase in coming years. Export revenues comprised three per cent of the total lock sales in 2015-16, said Motwani.