In a recent interview with CNBC-TV18, TK Sridhar, a prominent figure at ABB India, shed light on the company's pricing strategies and its optimism regarding the Indian market.

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Sanjeev Sharma, the managing director and country head of ABB India, emphasised the importance of understanding customer needs in determining pricing strategies.

He pointed out that in the technology-driven market, products like those offered by ABB India command a premium due to their advanced features and capabilities. Sridhar expressed confidence in ABB India's ability to sustain its pricing advantage in the current market scenario.

Sridhar stated, "When it comes to the pricing factor, it is all a play of what customers need as technology, and technology definitely derives a premium in the market. Therefore, ABB India, having a technology product, is hopeful that it will be able to sustain this particular price advantage that it has at this point in time."

Sharma spoke optimistically about India's overall economic growth and ABB India's role in it. He highlighted the company's extensive presence in the country, with 18 divisions operating across 23 market segments.

Sharma remarked, "Not only ABB India, but India is shining in terms of how the growth is sustaining here and it is much more broad-based."

One of the key projects that ABB India is involved in is the support for Reliance Lifesciences' biosimilar and protein manufacturing unit in Nashik. ABB India is providing crucial control and automation systems for the facility, which will play a central role in managing production processes and batches.

Sharma explained, "It is a core and central part of any manufacturing facility, and we are very happy to be a participant."

Sharma also highlighted the resilience of ABB India's order book, which remained strong even in the face of challenging market conditions. He noted that the company's backlog is 29 percent higher than the previous year, providing a positive outlook for future revenue execution.

Sharma added, "That is something that gives us very good visibility in terms of how we will execute our revenues going forward."

ABB India's presence in 23 market segments is a testament to its diverse portfolio. Sharma mentioned that while the agile market segments had been growing rapidly, core segments were also beginning to place large orders. This balanced mix of growth across different sectors bodes well for the company's future.

ABB India Ltd, formerly known as ABB Ltd, is a globally recognised engineering company that specialises in helping customers effectively utilise electrical power and enhance industrial productivity.

With an extensive installed base for manufacturing and a nationwide marketing and service network, ABB India continues to play a vital role in India's industrial and technological growth.

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