Godrej Material Handling eyes 28% market share of Electric Forklifts in India by FY24

~ Godrej & Boyce scales up its Good & Green vision; aims to reduce carbon footprint with green forklifts

~ Electric Forklift trucks account for 65% of the market share in India and are expected to witness a rise in demand of 12-15% by FY24

~Owing to a rise in demand for green forklifts in the manufacturing industry, Godrej Material Handling will be doubling its production capacity between FY22 and FY24

Mumbai, 8th February, 2023 (GNI): Godrej & Boyce, the flagship company of the Godrej Group, has announced that its business Godrej Material Handling has strengthened its portfolio in the green products category, eyeing 28% market share of Electric Forklifts in India by FY24. As India’s manufacturing industry is continuously transforming, it is not only witnessing significant industrial development but a conscious adoption of green manufacturing processes by corporate India. Godrej & Boyce is well-known for its commitment to sustainability and environmental stewardship. With a focus on green forklifts, the business is taking a major stride towards reducing its carbon footprint and creating a more sustainable future for the manufacturing sector in India.

As a part of Godrej & Boyce’s Good & Green initiative that ensures each business generates a share of its revenue from environmentally responsible products and solutions, Godrej Material Handling generates approx. 20% of its business is from such products. The electric forklift is an addition to this portfolio and is committed to providing a consumer experience that is technologically more enhanced and efficient. Electric-powered forklifts have operation costs as low as 20% and are highly maneuverable and versatile which gives them an edge over Diesel forklift trucks. The three electric forklifts offered by Godrej Material Handling are UNO, Bravo, and NEO. The Bravo electric series and Godrej PRO series reach truck offer easy-to-operate machinery that is safer for the environment and increases productivity in demanding applications and narrow spaces.

Commenting on this, Neville Mevawala, Head of Sales & Marketing, Godrej Material Handling, Godrej & Boyce says, “At Godrej Material Handling, we are continuously working towards increasing the share of our Good & Green products. We believe that it is not just the right choice to make but also one that has huge economic value. With this, we aim to bring products and solutions to the market that make the supply chain and logistics segment in India more efficient and sustainable. Switching from an ICE forklift to an emission-free forklift can have a major impact on business operations. The UNO Electric Forklift Truck is designed to provide maximum output. The new UNO platform is 10% more energy efficient than the older version due to low energy loss and a higher Volt system. The usage will lead to a significant reduction of carbon footprints and make material handling operations more efficient. We aim to reduce the need for diesel fuel and its associated emissions.”

Owing to the push by the government for Indian manufacturers to adopt sustainable manufacturing operations, there has been a significant shift from Diesel to Electric Forklift Trucks on the shopfloor and in warehouses. Electric trucks account for 65% of the market share, up from 57% four years ago.

The Electric Forklifts that are manufactured by Godrej Material Handling are powerful assets in the 1.5 to 5-tonne forklift class, that feature advanced ergonomics, increased protection, better visibility, and a longer operating time with each charge. With such advanced products, Godrej & Boyce has always been at the forefront of making global technology viable for Indian customers, stated in the press release.ends GNI SG