GST has been a big relief for the Indian market: Deceuninck

New Delhi [India], Nov 25 (ANI): At a time when New Delhi and other parts of India are struggling to keep its noise and air pollution under permissible limits and extreme temperatures at bay, Belgium based, Deceuninck is eyeing a significant growth in India.

A 100 percent subsidiary of Deceuninck Belgium, Deceuninck India looks to capitalise on the Government's housing sector push, has opened its first experiential store in Delhi.

The estimated market for the total door and window sector is around Rs. 15000 crores in India out of which uPVC has about 10 percent share or roughly around Rs. 1600 crore.

"We have made a significant investment in setting up 35,000 sqft warehouse in Chennai for stocking close to 400 tonnes of UPVC profile with more than 100 tonnes in foiled finish, since we commissioned the facility in 2013. The introduction of GST is a huge benefit to us as our tax costs reduced from earlier slab of 28 percent to 10.3 percent," said Global CEO Francis VanEeckhout.

"Currently we are at around five percent of the quality European and Domestic players which is around 30,000 tonnes. In the coming years this 30,000 tonnes will grow substantially and we look forward to be in the top two. Considering the potential in India market, we expect to achieve multifold growth in next three years," added VanEeckhout.

"India has a very high potential considering the growth of housing sector in India, implementation of new policies like RERA, GST, lower interest rates, higher disposable income in the mid-high end segment, affordable home sector growing at a fast pace given its infrastructure status and of course better informed, internet savvy customers of today. Indian consumers gradually understand the necessity of high-quality windows behind the glamorous curtains," said country manager Deceuninck, Satish Kumar.

Deceuninck, however, plans to be in both the projects and retail segment in India. the brand has huge experience from our Turkish subsidiary in the renovation and individual home owner market.

It offers the widest range of products in both platforms - 60mm and 70mm. In addition Lift n Slide systems and Bi-fold doors systems are also offered ready stock. Currently Deceuninck has opened their first experiential store in Saket, Delhi and plan to start next in Bengaluru followed by Mumbai or Pune and Hyderabad.

The company aims to roll out a slew of marketing and promotional initiatives in next couples of years. In the next phase, similar experiential stores will be opened up in Bengaluru followed by Mumbai or Pune and Hyderabad. (ANI)

This story has not been edited. It has been published as provided by ANI