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1.Humanising Industry 2.0

Sebi Joseph highlights how digitisation is rewriting industry and service narratives.

2.Elevating Value

New developments in the vertical mobility solutions market include elevators tailored for affordable as well as premium realty, and 24 x 7 service assurances.

3.Metro-rail: Parameters mandated for standardisation and indigenisation

Centre issues mandatory parameters for electrical components in Metro-rail.

4.Know how advanced technologies are gradually finding acceptance in India's elevators market

Industry estimates suggest that India has a market for 48,000 to 54,000 new elevators against China's demand for about 500,000 units a year. In fact, India is the world's second largest market for elevators but demands far fewer escalators, just around 1,500.

5.The only way is up

India is the world's second-largest market for elevators and escalators, behind China, with elevator demand expected to stand at 49,000 units at the end of this year, according to Sebi Joseph, President, Otis India.

6.Urbanisation in the country leads to an increase in demand for elevators and escalators

Growing urbanisation and an increase in commercial and industrial spaces in the country has led to a revolutionary change in Tier-I and Tier-II cities of India. Cities once with buildings not more than three floors are now redeveloping into skyscrapers towering each other.

7.We have the largest service portfolio, with about 70,000-odd units

Otis is among the world's leading manufacturer and maintainer of people movers, offering products - elevators, escalators and moving walkways - in over 200 countries and territories.

8.A New Era

Indian real estate is all set to embark on a new phase with the advent of multiple policy reforms in the past nine to 10 months, such as demonetisation, RERA, infrastructure status to affordable housing and GST.

9.The New Metro Rail Policy and investment in making 500 railway stations disabled-friendly will provide a boost to the elevator and escalator industry in the long term

The Union Budget 2017-18 aims at comprehending the dream of building a transparent and sustainable economy by providing an impetus to rural economy, road infrastructure, airports and railways, which is a welcome move. The focus on few crucial aspects like digital and black economy augurs well.

10.Green elevators

Otis India announced a new, environment-friendly, space-saving elevator system for low- and mid-rise buildings in India. The Gen2 Nova elevator from Otis India is the first in the country to address this rapidly growing sector and enable developers and owners to manage their properties more economically. This elevator system incorporates ReGen™ drives to reduce energy consumption up to 75 per cent compared to conventional systems with non-regenerative drives.

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