Foreign Entity's Registration with Indian Railways
The global community has become more aware of the practices and benefits of reusing and recycling. As a result, the world is shifting towards more sustainable products in industrial applications. Plastics industry is one such domain, where the transition is taking place from commodity plastics to engineering plastics.
Engineering plastics are a category of plastics that possess a unique combination of properties, enabling them to perform effectively in structural applications, over a wide range of temperatures, under mechanical stress, and different chemical environments. Moreover, they are impact and abrasion resistant. Engineering plastics have replaced the traditional engineering materials such as metals, glass and ceramics in several applications. The major reason for this shift is the rising quest for miniaturisation, innovation in electronics, and light-weight automobiles. The product segment has various industrial applications such as, automobiles, electronics, mechanical equipment, medical equipment, and chemical industry.
About the Customer
Company A is a reputed and reliable name in the area of engineering plastics. The company designs and manufactures a wide array of plastic components, majorly for the automobile industry. However, it also caters its service to the FMCD sector. It is well equipped in creating quality plastic components including exterior parts, interior parts, chassis parts, and function parts for all kinds of four wheelers, two wheelers, commercial vehicles, white goods, and sanitary items. With its state-of-the-art research facilities and applications equipped with advanced technology, the company is able to provide rich visual aesthetics to motor vehicles and ensure timely delivery of products.
Agenda for Expansion
The company relies heavily on innovation and continually develops new products to meet the ever-changing unique requirements from various industry sectors in manufacturing plastic components. These new, optimised products with premium quality and flexibility are highly efficient and low maintenance, which propels their demand in the market. Moreover, using a lightweight material makes the vehicle light, thus making it more fuel efficient. For implementing such benefits in the railway sector, the company wanted to work with the Indian railways to help the economy and the environment.
Verkko Management Consultants Pvt Ltd and its subsidiary Verkko Global is an International Trade Generating and Management Consultancy Organisation based in India, with active presence in 10+ countries. We support global companies, Economic Development organisations, corporations and Government Trade councils to generate business across the globe.
We have realised solutions for Company A to help them extend their services to Indian Railways. Post examining the product as per the specifications of Indian railways, the governing body decided to take this collaboration further to deliver the benefits to the Rail sector. As a vehicle's performance is dependent on the operating conditions (load, speed etc), the use of engineering plastics in the railway sector will result in smooth operations, while reducing the cost and resources involved.
Category – Railways
Industry – Engineering Plastics
Business Model – Business Collaboration