DCM Shriram Consolidated Ltd plans to open an office in China to boost sourcing of products from that country.
DCM Shriram, which has interests in chemicals and cement, among others, will open a representative office in Beijing within a month to bring “efficiency and quality control” in sourcing various capital goods as well as consumer items such as luggage, footwear, cosmetics and toys, among other products that the company sells through its network of rural stores.
The company operates 70 outlets called Hariyali Kisan Bazaar in dozens of villages selling everything from food to fertilizers.
The company plans to scale up the number of stores to about 250 in the next 15 months.
“Our PVC (polyvinyl chloride) business is based on the calcium carbide route and that’s the prevalent route in China... that’s a unique situation as China is the only country which makes very large quantity of PVC using the same route as us,” said Vikram Shriram, vice-chairman of the firm.
The company currently sources capital goods from the US, Europe, Japan and South Korea, among other countries.