It’s the ‘Ingenious Technology’ that has been the driving force behind this component supplier’s longevity in India...
B&E: What was the vision and mission for the Indian market when you started off?
AN: After many years of servicing India on an export basis through our Singapore operations, it was felt that we could better service our customers with a full-fledged local presence. 3M India commenced operations in April 1988 with a focus of providing products and solutions for the healthcare, packaging, telecommunications and electric power distribution sectors. These four sectors were also the focus areas for the Indian government at that point. Our vision was to provide innovative product solutions to the Indian customer with the aim of strengthening our worldwide claim that 1 in 4 people around the world experience a 3M product on a daily basis.
B&E: What understanding of the Indian market did you have then and what strategies did you formalise for the market penetration?
AN: Typically when we enter an emerging market we focus on infrastructure. Additionally, we recruited a seasoned team to carry out an assessment of where the opportunities lay for 3M. Further, the breadth of 3M’s portfolio provided numerous options. While 3M India did have access to 3M’s entire range of products, all of them would not have suited the Indian market. Hence, we slowly introduced products in India using two strategies – manufacturing and stock-and-sell. 3M made a modest start with a sale of Rs.28o million in the first year of its operations.
B&E: What was the vision and mission for the Indian market when you started off?
AN: After many years of servicing India on an export basis through our Singapore operations, it was felt that we could better service our customers with a full-fledged local presence. 3M India commenced operations in April 1988 with a focus of providing products and solutions for the healthcare, packaging, telecommunications and electric power distribution sectors. These four sectors were also the focus areas for the Indian government at that point. Our vision was to provide innovative product solutions to the Indian customer with the aim of strengthening our worldwide claim that 1 in 4 people around the world experience a 3M product on a daily basis.
B&E: What understanding of the Indian market did you have then and what strategies did you formalise for the market penetration?
AN: Typically when we enter an emerging market we focus on infrastructure. Additionally, we recruited a seasoned team to carry out an assessment of where the opportunities lay for 3M. Further, the breadth of 3M’s portfolio provided numerous options. While 3M India did have access to 3M’s entire range of products, all of them would not have suited the Indian market. Hence, we slowly introduced products in India using two strategies – manufacturing and stock-and-sell. 3M made a modest start with a sale of Rs.28o million in the first year of its operations.
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Ranked 1st in International Exposure (ahead of all the IIMs)
Ranked 6th Overall
Zee Business Best B-School Survey 2012
Prof. Arindam Chaudhuri’s Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri – A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM B-School Facebook Page
IIPM Global Exposure
IIPM Best B School India
IIPM B-School Detail
IIPM Links
IIPM : The B-School with a Human Face
IIPM – FLP (Flexi Learning Program)
