Barco NV is a Belgium based display technology company. It has a 100% subsidiary in India and it is still in a nascent stage. However, the growth curve of the company looks positive and very good as per Rajiv Bhalla, Managing Director, Barco India. In an interview with the Economic Times, Mr. Bhalla commented on the present and future of Barco India.
The company deals in video walls and laser-based video solutions that are used for monitoring purposes by police, enterprises, telecom companies, entertainment, infrastructure and also by healthcare institutions. Currently, the share of their business according to different sectors are as follows:
- Entertainment – 43%
- Enterprise – 33%
- Healthcare – 24%
The largest installation of the company’s visual solutions system is in Lucknow. The city police and traffic monitoring centres use Barco’s 170 screens to watch footage from over 16,000 cameras all over the city. They also have a huge installation in the Airtel Centre in Manesar and one video wall in a Patanjali manufacturing plant to look over the transport trucks.
On being asked about the current workforce in India, Mr. Bhalla said that the company’s 15% of the total workforce is in India that comprises over 600 people working in different capacities such as Research and Development, manufacturing, hardware and software development and sales. They have their offices set up in Noida, Mumbai and Bengaluru with two manufacturing plants in Noida.
The Healthcare sector in India is world famous for being cheap and effective and thus it attracts millions of patients from different countries. However, offering cheap healthcare needs to cut corners and technology is one of the major sides in the healthcare sector where cutting corners is pretty evident.
Barco India aims to increase its business in the healthcare sector as much as possible and as soon as possible. The company is very positive especially after the launch of the Ayushman Bharat scheme where the government is planning to build and renovate thousands of hospitals which is crucial for the well-being of the whole country.
According to Mr. Bhalla, the planning is very well in India, but the execution is a major issue. In most infrastructure development projects, the budget is a constraint and that negatively impacts the rapid development. There is a huge potential for even faster growth of the market but that is often slowed down due to slow infrastructural development. However, the positive thing is that the government has plans to develop around 100 smart cities in the near future. Moreover, 33 of them are under construction right now that opens up a lot of avenues for growth for Barco India. The company is aiming to tap into each and every opportunity of installing large screens and video walls in these places, which will allow them to realize their plan of doubling the revenue in the next 3 years.
India is the 7th largest economy at the moment and is one of the fastest growing major economies as well. There are as well as will be huge growth opportunities for companies such as Barco in the country. It is only time and effort that is needed in identifying these opportunities and acting to enter the market and making it big.