Mahindra & Mahindra Ltd sees huge potential for business in Bangladesh after the country emerged as one of the top three export destinations for the Indian automaker, said a top executive of the company.
Mahindra made its foray into Bangladesh in 1994 and has presence in diverse business segments such as two-wheelers, commercial vehicles, personal vehicles, tractors and agri-business, construction equipment and generator, along with IT and solar power.
“We want to develop Mahindra as a localised brand in Bangladesh to drive our global image since we believe in localisation in the countries we operate in,” said Arvind Mathew, chief of international operations of the automaker, through an email correspondence with The Daily Star recently. Mahindra has recently introduced two completely knocked down plants for its key products in the automotive space.
“This will enable us to deliver the value for money for the products in reduced time and develop local talents,” said Mathew.
According to the top executive, Mahindra has almost doubled its business in Bangladesh in the last five years.
The company has started enhancing its brand awareness in Bangladesh with the launch of multimedia campaign “Cholo Re” and roped in Mashrafe Bin Mortaza, skipper of Bangladesh's one-day international team, as its brand ambassador.
“In our endeavour to ensure customer centricity, we will continue to expand our network and do our best on customer satisfaction.” Mathew says Mahindra has an ambitious plan to expand its global footprint and Bangladesh is a key part of this growth strategy. “The company plans to grow aggressively by 2021.”
Mathew says the company's products have consistently met the needs of Bangladeshi customers over the past two decades, helping it become a leading brand in the commercial vehicle and tractor segments. “As we go forward we shall work with our local partners to further expand our presence through local assembly and production and this, in turn, will help in local skill development and market growth.”
The company has a strong customer base of more than 50,000 across all product segments. It is the market leader in one-tonne pick-up truck and diesel generators and one of the top three players in the tractor segment, according to Mathew.