‘Innovation Driven Advancement in Indian Manufacturing Space is Needed’
In an exclusive conversation with Mr Uday Narang Chairman of Omega Seiki Mobility, Faiz Askari from SMEStreet found some key insights on how the Indian manufacturing segment is advancing towards next level.
Having diverse and enriched experience and expertise in steel manufacturing and steel processing, Omega Seiki Mobility has developed it’s expertise for the advanced rail industry to cold forming to EV Mobility.
Faiz Askari: What is his set of priorities for 2021 especially considering the fact that we have entered in post-Covid-Scenerio. The previous year had left a lot of challenging memories.
Uday Narang: One of our businesses is Omega Seiki Mobility, which is an EV business and we are expanding it hugely. Anglian Omega Group has diverse businesses, we are the largest steel processors in this country. We are in the processing business from the last 51 years. We are significant players in the component business, we are doing cold forming and induction hardening. We are providing end to end solutions in the steel and auto component business. We believe that providing end to end solutions provides a better cost and survival security to OEMs. We believe this will be the future of the auto component business and EV components because in the next 10-15 years, everything will be electric. I am excited about this and that is how we ventured into Omega Seiki Mobility. Omega Seiki will be part of the electric revolution coming in Asian countries. We also have business in Anglian Infrastructure, where we are building cold storages across this nation, to ensure the quality cold storage facilitates in this nation for food security and pharmaceutical delivery. We have a sports platform too and in the football business.
Faiz Askari: What are the challenges you are facing in the areas you have the expertise and what are the improvements you are seeking from different businesses?
Uday Narang: I am a person, who is highly optimistic. I take all the challenges and see them as opportunities. I have worked globally and I came back to Asia about seven years ago. I have worked in Europe and the United States but now I have been working in ASEAN for the last 7-8 years. The population of India is 1.4 billion and Asia’s population 550 billion, which is ⅓ rd of world’s population. But the best part here is the young generation and they are consumers. In Europe, all people are aged and they don’t consume anything. The challenges are always gonna be there. Our country has a lack of infrastructure and there is a lack of an ecosystem. I believe in what I can do for the country, not what the country can do for me. I don’t complain about challenges. Again, why China did so well, we have the vehicle, technology and system but we don’t have an ecosystem. China is 20-30 year ahead of us because they have an entire electric ecosystem. They have battery producers, component producers and EV producers. We have small players spread across the country and transportation costs are very high. The electric revolution will be here in 5-7 years in India. Corona has taught us that it is very important to protect the environment. The competition is healthy for the business environment, so I invite healthy competition in the market. I am interested and keen to invest my money in electrification.
Faiz Askari: Anglian Omega Group is diverse and what are the investments you are making in EV Mobility.
Uday Narang: Omega Group is investing heavily in Steel. I believe that whenever the house is on fire there is opportunity. After the month of March, when everyone was thinking that the market had crashed. I started investing in technology and in our people. We will be investing huge in this financial year 2021, it will mark the history of Anglian Omega Group. We are going to invest 250 crores of our money in the EV sector and I am feeling like I will make thousands and fifteen hundred crores in the coming time. We will be coming up with two-wheelers in the next two months. Later, we will come up with tractors and four-wheelers. We have three factories in Northern India. It is a complete setup providing a better work environment to existing employees and to onboard new employees. 2021-22 will be a great year for us. I will go to the market and raise fundings because we want to be a bigger part of this electric revolution. We are bigger players and we want to use this opportunity to grow.
Faiz Askari: Which are the categories you are focussing in the EV Mobility space.
Uday Narang: We are ‘Make in India’ and manufacturing in five categories in making India. We are looking to build an alliance with battery players. All the components of the EV produced internally.