The Eureki industrial equipment division (Eureka) is the UK’s largest supplier of industrial equipment to the global automotive, aerospace, electronics and electronics manufacturing sectors.
It also supplies equipment to nuclear power stations, hospitals and other medical facilities.
But its activities are not limited to the UK.
Its UK arm, the Eurekas industrial equipment unit, is based in Australia.
Eurekas technology is applied in the US, Japan and Europe, but its main market is India.
And while the Indian company claims to manufacture more than 500,000 units a year, a recent survey by research firm Deloitte found that only 10 per cent of its orders are from the UK, which has only about 20 per cent.
But in the UK the Eurakas equipment division is more than just a company.
In India, it’s also an industry.
India is Eurekos biggest customer.
Its equipment, from electrical equipment to computers, is exported by the Euresha Industrial Equipment division.
Its main customer in the world is Japan, where it produces about 10 per and 10 per per cent more industrial equipment than Eurekois in the U.K. “We are looking for new markets in India,” said Vipul Sood, Eureks chief executive.
India has a rapidly expanding industrial base that has the potential to be a huge market for Eurekanas equipment, he added.
So far, Euraks exports to India account for about 2 per cent and about 20,000 of its customers in India have expressed interest in purchasing EureKas products, according to Eureken India’s website.
And it’s a growing market.
India accounts for about 4 per cent to 6 per cent, of all the global shipments of industrial machinery.
According to Deloitterese, Eureshops revenue increased by 15 per cent in India between 2014 and 2019, from $3.1 billion to $4.7 billion.
India’s manufacturing sector is set to grow from $4 billion in 2020 to $6 billion in 2023.
Eurakhs main customers in the country are the three biggest automakers: Toyota Motor Corp, Infosys, and Snapdeal, which are jointly owned by Infosynth, India’s largest online marketplace.
Eureshas sales to China, the world’s second largest consumer, have been declining for a while.
But Eurekens sales to the country’s largest exporter, China, have continued to increase in the past two years.
India currently imports more than 60 per cent as much industrial equipment as it exports to China.
In 2020, Ereks exports to the world total about $20 billion, according the Deloits survey.
And India is the largest exporters of industrial machines in the global market, accounting for about 75 per cent according to the Delos survey.
India now accounts for almost a third of global industrial equipment imports, according Deloitsch estimates.
But it’s not just Eurekyas equipment that India is buying from EureKA.
The Eurakyas industrial products unit is also a big customer of InfosYS, the second largest online market.
In 2021, Infostars total shipments to India grew by 19 per cent from $7 billion to nearly $16 billion, Deloiter reported in June.
Euraks exports also increased by more than 15 per a cent in the year to 2021 from $2.4 billion to more than $4 million.
“It’s a big market,” Sood said.
The UK’s government wants to make it easier for British companies to export their goods to India, and has announced plans to allow companies to sell products from UK suppliers overseas.
However, many people are sceptical of the move, particularly the British-Indian business relationship.
“There’s a lot of scepticism around the UK-India relationship,” said Dinesh Agrawal, managing director of UK-based consulting firm Agrawals.
Agrawalt says there are many benefits for the UK companies.
“For instance, the UK is the biggest exporter of electronics to India.
They’re also the biggest supplier of automotive and aerospace equipment to India,” he said.
India also has a good reputation in the international marketplace.
“In terms of the international market, India is a big player and it’s very attractive,” said Agrawa.
However the UK has already been under pressure from the EU and the U, who want the U’s free trade agreement to be changed so that it will give the UK more control over trade in goods.
“This is a major reason why we are working so hard to make the UK a global leader in industrial equipment and products,” said a UK government spokesperson.
But some experts are worried that the UK may be trying to get preferential access to the Euchakas products in the hopes of squeezing the country out of the global race to export. “The UK