“We’ve seen the market exploding for robots. Within the first 4 months, now we have achieved your complete turnover of what we did in final yr. In early August we already offered 50 per cent of what we did within the final 4 months. We anticipate to promote 1 lakh models this fiscal with a median value of Rs 45-50 thousand,” Karwal stated.
He stated that if all the things goes properly and there aren’t any provide constraints due to the India-China row then the robotic market in India will develop 30 occasions to three lakh models.
“At three lakh models, India market might be round 10 per cent of China market which 30 lakh models. India market mirrors China market with a lag of 5 years. I’ve seen the identical for color tv section, washer. This yr additionally dishwashers, robotic vacuum cleaners have gone by way of the roof,” Karwal stated.
The corporate has its personal meeting plant in Gurgaon. Milagrow has supplied robots to hospitals like AIIMS, Medanta and so forth through the lockdown interval.
Karwal stated that Milagrow market share could decline this yr to about 35 per cent on account of numerous manufacturers coming in with a increase out there however would once more recuperate within the subsequent monetary yr to 50 per cent.
“When any section booms, a number of gamers are available in. Shoppers additionally need to experiment with cheaper merchandise. Nonetheless, even on the 35 per cent market we’d have grown by 1500-2000 per cent. Within the subsequent fiscal yr, if we’re in a position to proceed with buyer satisfaction, we are going to once more bounce again to 50 per cent,” Karwal stated.
The corporate has been making and promoting robots in India since 2011. It claims to have 60 per cent market share at current.
The robotic flooring cleaners establish grime on their very own, clear them and transfer again to their charging level on their very own if their battery stage goes down.
“Now our robots can clear their very own mops,” Karwal stated.
He stated that progress in demand for robots will carry down the price of high-end robots by as much as 50 per cent within the subsequent couple of years.