India has been one of the countries hardest hit by the pandemic, with the second highest number of infections after the United States. A strict lockdown was in place from March to June, and the economy plummeted by nearly 24%. Nevertheless, Indaux is firmly committed to the Indian market, and the company has recently opened a second warehouse in Delhi to supply customers in the north of the country.
Indaux established itself in India in 2015 when a sales subsidiary was opened in Mumbai with Rajeev Okhandiar at the helm. In 2019, we expanded the facilities and moved the warehouse to a 25,000 sq. ft. (2,325 sq. m.) facility. Over the years, under the leadership of sales director Rachit Kumar, the Indian subsidiary has created an extensive retail network with more than 1,200 outlets in the country. More than half of these outlets are located in the north: Delhi, Uttar Pradesh, Haryana, Punjab… Also, the Mumbai headquarters exports products manufactured in Gipuzkoa to the SAARC countries (Bangladesh, Bhutan, Maldives, Nepal, Pakistan and Sri Lanka).
The opening of a second warehouse in Delhi is an endorsement of the efforts made in such a difficult year by the Indian team, who even in the most difficult moments of the pandemic continued to serve their customers and learned to live with this new reality.
Indaux continues to pursue its expansion strategy in Asia, investing in a business that we expect to continue to grow along with the country. The forecasts are optimistic: the IMF estimates a growth for India of 11.5% this year and 6.8% in 2022. Besides, in its fight against the pandemic, India’s position is very advantageous as it is about to approve its own vaccine from the Bharat Biotech laboratory, and is producing the AstraZeneca and Oxford University vaccines in its own territory.
On the left, Rajeev Okhandiar, President of Indaux India. On the right, Rachit Kumar, Commercial Director.