Swiss liftmaker, Schindler, is targeting to expand its Indian workforce to 10,000 employees from the current 6,000. This decision comes as the company wishes to match its workforce in India with that of China.
Reportedly, this expansion may require Schindler to establish more training centres in India, supplementing the three it already operates. The company emphasised that while India has a population comparable to China, its market size is currently only one-sixth or one-seventh that of China.
Since entering the Indian market in 1998, Schindler has identified India’s urbanisation as a significant growth opportunity, especially as China faces a real-estate crisis. In the second quarter, Schindler experienced a 5-10 per cent decrease in new installations in China, while installations in India continued to rise.
India’s rapid urbanisation and expanding middle class are fostering favourable conditions for elevator manufacturers. Schindler’s plan to nearly double its Indian workforce demonstrates the company’s confidence in sustained market growth. Observers note that Schindler’s progress in India could signal broader trends in urban infrastructure investments, potentially impacting the real estate and construction sectors long term.
With China experiencing economic challenges and a faltering real-estate market, companies such as Schindler are redirecting their focus to more stable and promising regions.
Schindler, established in Switzerland in 1874, is a leading global provider of elevators, escalators and moving walkways. The company is known for its innovative approach to vertical transportation and urban mobility solutions, serving a diverse range of clients across residential, commercial and industrial sectors.
