Hello & Welcome to India Mart Leaders of Tomorrow
only on ET Now.
It is a series that put the spotlight on india's
most promising Small and Medium Enterprises.
On the show today, we are meeting the enterprenures
from Delhi, Hyderabad, Mumbai and Ahmedabad
and all of them make diverse equipment in
the medical and surgical products category.
So, lets begin today's journey with the third
generation entrepreneur from Delhi, who's
supplying high quality products to UNICEF
and the Health Ministries of many countries.
A family business driven by commitment to
excellence Delhi based Narang Medical took
root eight decades ago.
taking the reins from his father in 1989,
third generation Enterprenure, Parveen narang
kick started modern manufacturing activities
for a wide range of medical equipment.
Overcoming the logistical challenges and esteemed
task of establishing India as the destination
for quality supplies.
The company now exports to prestigious client
in over 80 countries around the world.
The first office was 10 feet by 10 feet and
today we have about 10000 square ft. office
space.
Our main products are Orthopedic Implants
and instruments and hospital Furniture, besides
these two, we do quite a big range of medical
equipment and we supply to more than 80 countries
worldwide.
We are also working with UNICEF and UN bodies,
Ministries of Health in different countries.
With loyal clients dated back to the 1960s,
this company has transformed itself with the
times.
Breaking the mould of the typical medical
equipment manufacturers narang Medical presents
the whole host of its products online and
utilizes the social media to reach out to
a wide customer base across the world.
the group has ensured a steady growth of 30-40%.
Real growth started in 1995-96, when internet
came in India.
That was, you can say, a turning point for
my compny.
FAirly, whole of the world was on your table
and on your finger tips.
We have been the first company in India, who
have started making product videos.
We have more than 500 product videos on youtube.
We are very strong on social media - Facebook
and Twitter also.
We have 10000 fans on facebook, which is a
big number for a company which is into a very
niche market.
Meeting huge demand from all the quarters
of the world.
narang Medical has their facilities in Ludhiana
and a joint venture in China.
From manually operated special purpose machines
to high tech CNC equipment.
Mix of various machines ensure maximum efficiency.
in a segment where accuracy is the key word
for the wellbeing of patients, every piece
is thoroughly tested at the stringent quality
control Labs to meet the highest possible
standards.
most of the products have the CE certifications,
that is essential for the European Union.
Now this is a product qualitycertification.
When we talk of a company being 9001, that
is a system certification.
but we will talk of the products, its like
ISI mark in India, its CE mark for the world.
So our products comply to the ISO standard,
which certifies that our products are good
enogh to be supplied to the European union
and to the other parts of the world.
We are looking at a growth rate of atleast
30% and the strategy behind is that we have
to increase the production capacity.
That is, right now, we have more orders than
we can produce.
So if you just increase the production, the
sales will go up.
Has the recent economic slowdown affected
your business.
No, Medical Equipment is one business, which
is not affected by economic slowdown.
We provide our distributors an opportunity
not only to serve the patients and save the
lives, but it also gives them opportunity
for a recession free, weatherproof business
income.
What would you say is the unique selling proposition
of narang Medical.
We provide the best quality stuff.
We are not on a price war, we are not price
sellers, we are quality seller and that differentiates
us from other Indian companies, who are only
selling price.
Build up through hard workand determination,
Narang Medical is the result of "never say
die" attitude and innovative thinking.
Consolidating its penetration in existing
markets, experimenting with new products and
building up production capabilities.
Narang Medical is cutting ahead with surgical
precision in that niche equipment space.
