Interface Inc., the world’s largest marker of modular carpets for commercial and residential applications may enter Sri Lanka with its plans to start a production facility in India, a top Interface official said.
“We have identified India and China as our focus markets. The two markets together would emerge as big as the US market over the next 10 years. So, local production is important. Besides, we may also look at serving markets like Sri Lanka, Bangladesh and the West Asian nations from India,” Rob Coombs, President and Chief Executive (Asia-Pacific) was quoted as saying by India’s Business Standard.
Interface imports products from Thailand for India. It had entered India in 2001.
Coombs had said India was a tougher, aggressive and low-margin market but still scalable.
“India is currently the third largest market for us in the Asia-Pacific. We expect to cross $50 million in revenue in India from the present level of US $ 20 million in the next five years,” he said. It gets $500 million from the US market.