In the last two quarters, the business has seen a jolt due to COVID – 19 pandemic. The scenario is not only in India but also globally. During these times, Hongfa is having a stable growth in business and there is no major surge or sudden fall as of now even during COVID – 19 pandemic noted Dr RA Gotur | Director India Operations | Hongfa Group. While talking to Niloy from BIS, the veteran also extended his words on the growing Indian market, trends, Hongfa’s strategies post COVID-19 and innovations complementing the Indian relay market. Edited Nub Below.
Which sectors are witnessing the real growth trajectories for the Indian Relay market?
As per our data, Hongfa is a leading player in Power Electronics, Home appliance (kitchen electronics), HVAC, Automotive, Solar (Lighting) smart metering, medical & Industrial Infrastructure. Based on the enquires, and conversion of enquiries into business, we see stable growth in the above-said industries. In these segments, there are emerging cutting-edge technology products and as well as existing mature products.
Mr Gotur, your expertise in relay market is unparalleled, how do you think COVID-19 will change the market dynamics and its larger impact for a longer period of time?
Noting an old say, “Necessity is the Mother of Invention.” Hence, according to my perspective, I see (COVID-19) as a new avenue for ramping global economic growth. For example, though sanitizing was in existence, it has now attained importance across the world. Obviously, the necessity has paved the way for new products for consumer safety. From the electronic industry, the contribution is UV based-lighting for quicker and efficient sanitizing purpose. In a similar way, I expect the other industrial verticals do contribute to the worlds’ healthy living in the coming years.
In these few last Quarters, how has been Hongfa products demand in the Indian market, what new initiatives has the company taken to drive new sales?
In the last two quarters, the business has seen a jolt due to COVID – 19 pandemic. The scenario is not only in India but also globally. During these times, Hongfa is having a stable growth in business and there is no major surge or sudden fall as of now even during COVID – 19 pandemics. As you know, Hongfa is holding the major share in the Indian market, its products (relays) has a presence in almost all applications across the board. Hongfa believes its strength is from the R&D stage during product development. As such every day, there is a new development and our product specialists do contribute to assisting the development. In the long term run, the participation does convert into business as the new product become mature in the market from cutting-edge technology stage.
Miniature relays, low contact resistance are new trends what further trends do you see in the Indian relay market and Hongfa’s portfolio to compliment these new trends?
We have relays to meet every need of the customer. As of now, India is heading towards developing e-vehicle segment. We foresee EV relays will be major demand in the auto sector, renewable energy sector etc.
Hongfa’s current market share in India and strategies to expand its dominance in the sub-continent?
Hongfa is NO.1 & the largest manufacturers of relays in the World. As of now we have around 60% market share in India. We believe in healthy competition. We wish others do grow along with us.
Product testing, standards, certification, R&D strength of Hongfa?
You know, Hongfa has its own relay testing lab; very few companies in the world do have the testing facility inhouse. Hongfa has all certification from the international certifying agencies. For more details kindly visit our website ( www.hongfa.com )
Hongfa’s any new innovation and ground-breaking technology?
Given today’s situation of (Covid-19), we feel contactless operation may be the upcoming need of the hour. We feel components such as REED Switches, Relays, Hall Effect Sensors etc. can contribute more towards the development of products related to the contactless operation.
Credibility, Visibility and Adaptability are said to be the key for a Brand’s image? What is Hongfa’s strategy to give customers a bigger and better picture about its brand?
HONGFA has already become every engineer’s PET in today’s market. I believe, it cannot be possible without serving the expectations of every engineer. So in a single word, I will say “dependability” is the picture of Hongfa’s Brand.
Key USP of Hongfa which ousts its competitors?
We followed and invested a lot in ‘3Ds’. Dedication, Determination and Devotion. It is our USP.
Pre and Post sales or let’s say, service-driven marketing is key in the current market. Hongfa’s understanding of customers needs and retention strategy?
Today, Hongfa has achieved the lowest PPM than the prescribed industry standards. It is because of the above said ‘3Ds’. From my point of view serving customers, post-sales is very important. It really helps with feedback and scope of improvement. Obviously, the combination of Design stage participation, maintaining the low PPM and post-sales serving is the KEY to business growth.
Lastly, any major announcements expected from Hongfa in coming time?
Relays are basically a switch which works on electromagnetic. It might be possible a relay with AI do come and become more designers’ friendly. Due to COVID 19 pandemic, No major announcement is expected presently. Once the situation improves you can look forward to. Hongfa corporate team is already on the job.