Thursday, May 01, 2014: Leading technology distributor Premier Farnell believes that the Indian semiconductor market is a highly flourishing one so much so that the growth here (with respect to them) is way faster than other countries in Asia. According to Laurence Bain, chief executive officer of Premier Farnel, the greatest opportunity for them lies in the Asia-Pacific region that has seen a growth rate of almost 17.5 per cent year on year. India he believes is a driving force in their growth story.
Premier Farnell that owns the retail electronics component reseller company, Element 14 is witnessing steady growth here in India. “We have seen a growth rate in escess of 20 per cent since the last 4-5 years.” Laurence said. Premier Farnell now has almost 200 staff here and is investing considerably in the areas of go-to-market and multi-channel capability as well as their on-line web proposition. Farnell is further looking to invest in the area of shared service capabilities in India so that local teams could support the rest of the group.
However, the success story still witnesses some challenges, as is customary in the business. The key issue with respect to Premier Farnell lies in the area of importation. “The amount of time products take to get through, and the subsequent distribution of that product across the market is an issue. We are trying to optimise that.” Laurence said. Premier Farnell currently has a small warehouse in India. It stocks products from the TE, Fluke and Raspberry Pi for distribution.
