ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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EMA INDIA-Indigenisation Plans

market. This is due to the strong management and a still dominant position in the elevator market. Despite the stagnant domestic market and growing competition the company was able to book orders for elevators and escalators amounting to Rs 75.73 crore. Intense competition from Japan, Korea and now also from China in the south-east Asian markets led to a decline in exports from Rs 3.05 crore to Rs 2.16 crore. Due to tight money conditions and the slowdown in the construction industry, completion of the expansion project at Mysore is likely to get delayed. However, the company is diversifying into software development activity, amending the object clause of its Memorandum of Association to this end.

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