Page 39 - CV April-May 2019 issue

INDIA'S GROWTH picture

is as clear as glass for
SAINT GOBAIN

“India is one of the fastest growing countries for Saint Gobain. India is the number one country for us — even more than China,”
Saint-Gobain Group chairman said”.

aint Gobain, the French maker of about the economic climate in India. It's added. In India, its biggest investment is in
plasterboard and glass, is betting improving and I am confident that it will the glass business. It is the market leader in
Sbig on the Indian market and is continue to improve.” making glass for buildings, automotive
aiming to triple revenues in the next ten windshields etc, and value-added glass like
years to ₹20,000 crore, its chairman said. Saint Gobain was set up in France in 1665, coated glass. The other business is gypsum
“India is one of the fastest growing and made glass for the French King Louis plasterboard which is in the materials space
countries for Saint Gobain. India is the XIV. It is present in India through three and abrasives, refractories, high-
number one country for us — even more entities. performance plastics etc.
than China,” Pierre-Andre De Chalendar,
chairman of the Saint-Gobain Group, told “…at the moment in terms of growth capex, “It is a sign of the strength of our Indian
ET in an interview recently. India is the number one country for us, business,” Anand Mahajan, chairman of
even more than China,” Chalendar said .. Saint Gobain Group in India, told ET in the
About €130 million, or 10% of Saint The company has grown by 19% since same interview. Mahajan has been steering
Gobain's investment capex, find their way 1996 when it started operations in India the group since its inception in India and
into India that contributes only 2% of its through its listed company Grindwell leads a wholly Indian team in a French
sales. The share of India in total NortonNSE -0.76 % (GNO). Over the years, company, a fact that Chalendar takes pride
manufacturing is around 4%, he added. The capital expenditure for growth in the country in while talking about the glassmaker's key
last three years have seen the French has been the highest in all the countries successes in India.
company plough back all the profits it made that it has businesses in, amounting to
in India to grow its business here. around $100 million in the last few years. What gives Chalendar the confidence to bet
on India is the rising demand that the
Chalendar is encouraged by the proactive “Most of our investments in India have been company is seeing from its glassmaking
reforms undertaken by the Indian funded by our existing company in India. It segment. It makes flat glass that is used as
government. is a sign of the strength of our Indian windshields in automobiles and in buildings,
business. So, we plough back all our profits where demand for green alternatives is hing
“There has been a progressive reduction in in India. We haven't sent money out of India the sales up for its coated glass.
bureaucracy. The tax reforms of last for the last few years now. The cash that we
summer have been good. So, I am positive generate, we invest back,” Chalendar

37 / CONSTRUCTION VISION / May June 2019