The Indian company's fast growing global business gets a boost from Singapore's central location, excellent government policies and connectivity.

From its humble beginnings in 1961 as a wire rope manufacturing company in the mineral-rich state of Jharkhand, India, Usha Martin has evolved into a conglomerate with a major global presence. Today, the company has set high standards in manufacturing materials such as wire rods, steel wires, speciality wires, wire ropes, conveyor cords and cable machinery, among others.

The company is responsible for exporting over 60 per cent of the wire rope output and about 20 per cent of total wire rods produced worldwide.

Tapping On Singapore's Strengths
When Usha Martin first set up in Singapore in 2001, it was focused mainly on order fulfilment and growing its regional market share.

Because of the city-state's close proximity to India and Thailand – the company's manufacturing hubs – Singapore's role expanded to become Usha Martin's regional distribution centre in Southeast Asia and the Pacific. The Singapore office also managed the procurement and sale of raw materials and iron ore to the rest of the region. Currently, Usha Martin Singapore oversees the company's businesses in New Zealand, Australia, Indonesia, Vietnam, Myanmar, Malaysia, Korea, China, Kazakhstan and Pakistan.

"We chose Singapore because of its excellent port facilities, transparent government policies and low corporate tax rates," said Tapas Ganguly, Chief Executive Officer, Usha Martin Singapore Pte Ltd. He added, "The Singapore government’s business-friendly approach and constant support, and especially the Singapore brand name which conveys strength, reliability and opportunity, were transpired merits that uphold our presence here as Usha Martin's key regional distribution centre."

Future growth plans for Singapore
Looking forward, the company plans to increase investments in its iron ore and coal mines, sinter plant, pellet plant and power plants, as well as strengthen its steel-making capabilities and value-added product offerings.

Usha Martin intends to make the Republic its corporate engineering knowledge centre for the global wire rope business, and expand its operations here to become the international headquarters for its overseas business. These plans will bring about additional investments of about US$300 million (S$416.04 million) in Singapore.

After almost a decade since setting up in Singapore, Usha Martin has grown from strength to strength. Its market share has increased from a mere five per cent to almost 50 per cent to date, testament of the successful partnership that Usha Martin has with Singapore.

The Usha Martin regional headquarters in Singapore. The company has grown from strength to strength, to become a global conglomerate with major global presence