"This is the right time to enter India": Kapsch Group Chief
George Kapsch, Chairman and Global CEO of the Kapsch Group, stated this is the right time to enter India, expressing his eagerness to expand business in the country.
ANI
Sep 18, 2024 17:15 IST
New Delhi [India], September 18 (ANI): With the World Bank forecasting India's growth at 7 per cent for FY25 a number of business houses are looking to do business in the country. George Kapsch, Chairman and Global CEO of the Kapsch Group, belives this is the right time to enter India, expressing his eagerness to expand the groups business in the country.
"India is doing very well now, and we are keen to enter the market. We tried several years ago and weren't that successful, but this time we believe it's the right moment with the right partners," said Kapsch, Chairman and Global CEO of the Kapsch Group.
Kapsch Group, headquartered in Vienna, Austria, employs 4,000 people worldwide and operates in 50 countries.
In an exclusive interview with ANI, Kapsch noted India's rapid growth and modernization, emphasizing its ability to progress without losing its cultural roots. "This is very important because many countries compromise their identity for economic advantage. India, in my view, perfectly balances modernization with preserving its culture." This was Kapsch's first-ever visit to India.
Kapsch TrafficCom is a global expert in GNSS (Global Navigation Satellite System) tolling technology.
The Ministry of Road Transport and Highways (MoRTH) is working on a hybrid, unbundled, and interoperable GNSS-based tolling solution. Recently, MoRTH Secretary Anurag Jain revealed that the department is preparing a Request for Proposal (RFP), expected to be issued by the last quarter of FY 2024.
Kapsch Group is partnering with the Indian company Comvision to enter the Indian market. Discussing the partnership, Kapsch said, "We met recently and connected from the very beginning. We believe this partnership has great potential. When it comes to GNSS tolling, we have extensive global experience, and our partners bring local market expertise. It's a perfect fit."
Kapsch elaborated on the company's two decades of experience in GNSS tolling, noting their innovation in developing more cost-effective solutions. "The first GNSS implementation was in Germany, and it was extremely expensive. We focused on creating more affordable options, which became our competitive advantage. GNSS adoption has been slow, with only a few countries using it, but its uptake is increasing. India is now emerging as a front-runner in this technology outside of Europe, making us excited to support the Indian government in implementing a nationwide GNSS solution."
In Europe, Kapsch explained, four countries currently use GNSS for tolling. There is also a European Electronic Toll System that covers the entire continent using GNSS. "You have regional solutions based on DSRC, and an overlay network based on GNSS," he added.
Addressing India's tollbooth congestion and safety issues, Kapsch stressed that GNSS would help alleviate traffic problems. "By eliminating tollbooths and allowing free-flowing traffic, you can reduce congestion and prevent accidents around toll plazas."
On managing congestion, Kapsch said, "There are two key approaches--intelligently routing cars and controlling traffic signals adaptively. By combining these, we can optimize traffic flow. Additionally, introducing congestion charging for vehicles entering downtown areas could be a valuable solution." (ANI)
Tags:
Get the App
