GoldStar Power Limited, an Indian company, announced Monday that it had returned to the nation after leaving because of the COVID-19 epidemic.
Speaking on the fringes of the IoT West Africa Exhibition and Conference at the Federal Palace Hotel in Lagos, the business’s export head, Shadab Khan, stated that the conditions are right for the company to return to the nation and support its growth.
He noted that the only issue the fifty-year-old product has with the local market is that consumers tend to want inexpensive things, which has led numerous enterprises to make low-quality goods. He said that the business would not budge to comply.
“We were in Nigeria 2016-2020, but our distributor had some issues during the COVID-19 outbreak, so he stopped with us,” Khan stated.
We are back here now, beginning to penetrate this market. The primary issue with our goods in Nigeria is its high calibre. That is an expense, but in Nigeria, it looks like everyone is more interested in low-quality products at lower costs.
He claimed that the company’s second coming was to engage in long-term business, not merely sell goods, repatriate profits, and take off, but also to generate jobs that would aid in the nation’s economic growth.
We want to stay in Nigeria for the long term. We envision ourselves in Nigeria after ten years as a respected brand in terms of quality, trust, and relationships.
This is our mission in Nigeria. Customers will respect GoldStar since our products are of the highest quality.
“We can’t sacrifice quality for lower prices,” he said.
When asked why the company is not considering creating a plant in Nigeria rather than exporting from other nations, he stated that the proliferation of manufacturing units throughout the countries where its products are supplied will eventually lead to a loss of quality control.
“We have three factories: one in Dar es Salaam, Tanzania; one in Uganda; and our headquarters is in India.
They produce batteries and export them to 26 nations. Thus, if we establish factories in each nation, the total number of factories will be 26. It will not be able to manage it.
One iPhone is produced in China, the other in the USA. But, you can’t compare the two.
Having manufacturers spread around the globe makes it impossible to maintain quality control, he stated.
He stated that the company ranks among the top five battery producers globally in terms of market share.
What they’re saying
“We ought to be in the top five. I won’t say that we are the best; we rank fourth in terms of quantity, which may be lower than average, but in terms of reach, GoldStar will be mentioned if you ask someone in Syria, Yemen, Dubai, or Uganda what the top five Indian companies are in terms of quality.
“As the oldest company in India, we have been in business for 50 years. We are fifty years old, yet we educated everyone in India how to build batteries.
“ Today, eighty percent of India’s battery producers are between the ages of five and ten. GoldStart is a fifty-year-old business. Our area of expertise is battery manufacturing.
“Our company’s greatest strength is that we mould our batteries and train others in battery making. Being among the oldest enterprises, we have more experience making batteries than our competitors, and we never save on quality.”
