PRAMA HIKVISION TO INVEST RS 500 CR IN MANUFACTURING TO MEET THE DEMAND OF THE DOMESTIC MARKET

Prama Hikvision drives the video surveillance technology with an intuitive integration of Artificial Intelligence (AI) into its cutting-edge products and solutions. It designs and manufactures a full-line of innovative CCTV and video surveillance products. The product line ranges from cameras and DVRs to video management software. Prama Hikvision has established itself as a market leader by setting new benchmarks in the security and surveillance industry.

Prama Hikvision has recently inaugurated a manufacturing facility in Mumbai. With a total investment commitment of Rs500 crores, the plant will fulfil over 35% of the domestic market demand on a monthly basis. Ashish P. Dhakan, MD and CEO, Prama Hikvision India has shared his views about the India market, their manufacturing facilities, channel partners and future roadmap.

This new integrated state-of-the-art manufacturing facility is an expression of Prama Hikvision’s commitment to the Government of India’s flagship ‘Make in India’ program. On this context Ashish says, “By government of India’s Make in India program, we can continuouslypursue that there has a strong political intent and motive. Government was subsidizing ‘Make in India’and they tried to motivate the organizations. The agenda behind ‘Make in India’ was to employ generations forstronger economy. We see this as an opportunity and we get into‘Make in India’program and get advantage of 10% - 20% of the duty benefit. Secondlythrough this we have a lot more range and started developing products, designed for Make for India. Third was to build a competitive advantage.We choose India market for this program. If yourcompetitors are having such a benefit and you are not having then it will be a big challenge for you.”

Manufacturing facilities 

With four plus two feature SMT lines in India spreading in nine lakhs square feet area, Prama Hikvision’s current production is eight lakhs plus cameras and installation capacity is 24 lakhs per month. 

Ashish comments, “Some products are being manufactured from other ancillary industry like packaging.We manufacture some plastic injection mouldsand some other products.There are some large components like capacitors, transistors and THT components which we boughtlocally from India.Because there are many such component companies are out here.  Assembly, manufacturing and copyrights and IP add around 50% of value addition in our current production.”

On the security point of view

Security industry is growing at around 20% plus growth rate. Last year it was 17% -20%. Prama Hikvisionis growing year on year over CG rise of 65% and last year they have grown more than 35% plus. 

Ashish pursues, “The data is stored in somewhere and it has to be in your network. Network security is must and people are following different layers of network security, which is a localized. Our product lines have state-of-the-art certifications to ensure security.”

CCTV Industry

Ashish thinks that there is a perception that Hikvision is very price sensitive. He is confident about not to compromise with the quality of the products. “We start our range of products from low price to a very high level of product.We also manufacture thermal cameras and cameras priced above even two lakhs. They are like different parts of pyramid and we get each part of the pyramid in the market.” Ashish says.

Message to Channel partners 

He feels his channel partners are very close and big family to him. Ashish comments, “My channel partner wallet inthe country is like a large family.My message to the large family-let's grow together. And the more they grow, I will grow, and we are growing each other and we are helping to grow each other.”

To Conclude

Ashish is hopeful to continue with similar growth rate and milestones in near future. In terms of production he is hopeful to reach more than 1.5 million cameras per month.

Ashish concludes, “I have put my best in persistency and dedication and will always remain in security industry. I think what we have given to industry; industry has given us a lot more than that. Fortunately I entered in right time and right investment. It has given me a wonderful mileage. Down the time information will play a very critical role and it is the information which is going to make the world very smart.”