Moneycontrol PRO
Open App
you are here: HomeNewsBusiness

Protective equipment maker Mallcom India targets Rs 1,000 crore revenue by 2027-28

Countries across the world are looking for a 'China plus one' strategy to source industrial safety and personal protective equipment

August 26, 2022 / 05:09 PM IST

Industrial protective equipment manufacturer Mallcom India Ltd is aiming at a three-fold growth in revenue to Rs 1,000 crore over the next five years as it is hopeful of securing orders from both domestic and overseas markets, a top company official said on Friday.

Countries across the world are looking for a 'China plus one' strategy to source industrial safety and personal protective equipment even though a sluggish demand for such products is witnessed in the short term due to geopolitical tension, he said.

"The (Russia-Ukraine) war, high inflation, and talks on a possible recession in the US and the European Union countries resulted in a sluggish demand situation. But, our recovery surpassed pre-COVID levels. The 'China plus one' strategy by the major sourcing nations is under progress and India is emerging as an important sourcing destination, Mallcom India Managing Director Ajay Kumar Mall said.
PTI
first published: Aug 26, 2022 05:09 pm
Sections
ISO 27001 - BSI Assurance Mark