Engineering the future: how Elecon’s legacy continues to power global industrial progress and innovation
With a 75-year legacy of engineering excellence, Elecon Group (Elecon Engineering Company Limited)’s story is one of vision, innovation, and continuous evolution. Founded in 1951, by the visionary Shri Ishwarbhai Patel, in Mumbai, India, the company began by manufacturing elevators and conveyors, laying the foundation for its growth at a pivotal time in India’s industrial evolution.
Building on the solid foundation laid by its founder, the stewardship of Elecon was entrusted to his son, Shri Bhanubhai Patel, whose visionary leadership ushered in a new era of growth, diversification, and manufacturing excellence.
As the country’s manufacturing infrastructure grew, so did demand for reliable industrial equipment and transmission solutions. Building on its early success in trading, Elecon entered manufacturing through its Material Handling Equipment (MHE) business before making a defining move in 1976, by expanding into industrial gear manufacturing – a strategic decision that would define its future success.
In the decades that followed, Elecon transformed from a domestic engineering company into one of Asia’s leading providers of industrial gear solutions and material handling equipment. Today, headquartered in Anand, Gujarat and present in more than 95 countries, the Group delivers end-to-end engineering expertise across a wide range of sectors, including steel, cement, mining, power, sugar, ports, paper, marine, and defense.
Now, with the global manufacturing industry undergoing significant transformations, Elecon remains at the forefront of innovation, continuing to invest in its operational strategy to be a reliable partner to its customers across the globe. With 2026 marking the Group’s 75th anniversary, we sit down for an exclusive interview with Prayasvin Patel, Chairman and Managing Director of Elecon and son of Shri Bhanubhai Patel, to dive deeper into the company’s current operations and uncover what lies ahead. Representing the business’ third generation of family leadership, Mr P. Patel begins our conversation by sharing insights into his own career journey thus far.
“I joined the company in 1983 after completing my Mechanical Engineering degree and an MBA from Loyola University in the United States. Looking back, I often feel I should have started at the shop-floor level because practical experience teaches lessons that no classroom can provide,” he recounts.
“However, circumstances required me to take on leadership responsibilities quite early. Initially, I focused on the gear division, which, at that time, required greater management attention. We invested heavily in technology, automation, and modern manufacturing systems, laying the foundation for what has become one of Asia’s largest industrial gear businesses today.
“Following my father’s untimely demise in 2006, I assumed responsibility for the Group’s overall operations,” he says. “Throughout my journey, I’ve believed in empowering capable people, decentralizing decision-making, and encouraging accountability. Leadership is about creating an organization that performs consistently rather than depending on one individual.”
A defining milestone in Elecon’s global journey came in 2010 with the acquisition of Radicon and Benzlers from UK-based engineering company David Brown. “This strategic acquisition significantly strengthened our international presence, providing an established foothold across Europe and North America while enhancing our technological capabilities and global customer reach,” Mr P. Patel shares. “Since then, we have successfully integrated and further developed both businesses, enabling them to operate seamlessly within the wider Elecon ecosystem while preserving their strong market identities.”
Today, under the people-centric leadership of the Patel family, the Elecon Group has evolved into a diversified engineering enterprise comprising other core business entities, including Eimco Elecon, Power Build, Modsonic, Elecon Hydraulics, Tech Elecon, Elecon Information Technology, and the internationally recognized brands, Radicon and Benzlers.
“Over the past 15 years, we have successfully integrated their strengths with Elecon’s manufacturing capabilities,” Mr P. Patel elaborates. “Today, products manufactured in India support these international brands, while the overseas businesses continue to provide local engineering expertise, business development support, and customer service. This combination is enhancing our competitiveness in global markets and positioning us as a global player.”
As the industrial landscape evolves rapidly, the company is leveraging its wealth of technical expertise with manufacturing capabilities, technological investments, and innovation-led strategy to strengthen its position in an increasingly competitive global market. Mr P. Patel notes that changing customer expectations – for instance demands for higher efficiency, lower energy consumption, predictive maintenance, and shorter delivery cycles – are among the key drivers behind Elecon’s wider investment program.
“We’ve been investing continuously in advanced CNC technology, robotics, automation, and integrated manufacturing systems,” Mr P. Patel explains. “We are also strengthening our R&D capabilities to develop more efficient gear solutions with longer operating life and reduced maintenance requirements. Another important trend is the diversification of global supply chains. Many international OEMs are looking beyond traditional sourcing destinations, and India has emerged as an attractive manufacturing hub. This presents a significant opportunity for Indian engineering companies, like us, with strong quality systems and global capabilities. Additionally, Elecon always strives to deliver gear solutions and products across its business verticals with the lowest possible operating costs.”
These investments provide the foundation for Elecon’s continued innovation. By combining advanced manufacturing capabilities with close collaboration across its wider ecosystem, the company is accelerating product development, strengthening its global presence, and creating solutions that address the evolving needs of customers worldwide.
“Innovation rarely happens in isolation,” he elaborates. “Our R&D teams work closely with customers, suppliers, academic institutions, and technology partners to understand changing industry requirements. We currently hold four registered patents, with a few more in the pipeline. Customer feedback is necessary for product development, while supplier partnerships help us evaluate new materials, manufacturing processes, and production technologies. This collaborative approach enables us to introduce new gearbox series, improve efficiency, reduce energy consumption, lower costs, and customize solutions for specialized applications.
“Exports have also become an important part of our growth strategy,” he adds. “While India remains a strong market, geographical diversification creates resilience and opens larger opportunities. Our strategic initiatives – like extended OEM partnerships, distribution networks, rapid build centers, agents, and strengthening local service capabilities – are helping us deepen our presence in developed markets through the Radicon and Benzlers brands. We will also actively evaluate strategic acquisitions that complement and strengthen our existing strengths.”
Mr P. Patel reflects that while innovation, collaboration, and global expansion continue to shape the company’s future, its long-term success has always been guided by a set of enduring values. These principles have remained constant throughout its evolution and continue to drive sustainable growth.
“Our journey has been built on three enduring principles: technology, ethics, and people,” he emphasizes. “From the beginning, my father believed in investing ahead of the curve, whether in modern machinery, global collaborations, or manufacturing capabilities. That philosophy continues today.
“Equally important has been our commitment to ethical business practices, financial discipline, and long-term relationships with customers, employees, suppliers, and the environment in which we operate. We have always believed that sustainable growth comes from creating value for all stakeholders rather than pursuing short-term gains.
“That belief is also reflected in the way we approach sustainability,” he continues. “Today, 55 percent of our energy is sourced from renewable sources, supported by 13.2 megawatts of wind power, 5.5 megawatts of solar power, and an additional 8.3 megawatts from a renewable energy plant under commissioning. Nearly 95 percent of our lighting has been converted to LED, helping reduce facility energy consumption across our buildings. We have reduced wood usage by 40 percent through nail-less eco-packaging, operate with zero sewage discharge by reusing treated wastewater on-site, and have reused approximately 98,000 kiloliters of treated water for green belt maintenance. Through rainwater harvesting, we have also enabled a 1.9-meter year-on-year improvement in groundwater levels. In addition, our commitment to three United Nations Sustainable Development Goals and our approved Science Based Targets initiative (SBTi) pathway to reduce absolute Scope 1 and 2 Green House Gases emissions by 54.6 percent by FY33 from a FY23 base year reinforces a simple conviction: growth must be responsible, measurable, and built for the long term.
“Finally, our people have been our greatest strength,” he adds. “By fostering a culture of empowerment, continuous learning, and professional development, we have built a dedicated workforce, with many employees proudly serving the organization for decades. At the same time, we strive to bring younger executives into senior positions, creating a strong talent pipeline that keeps the organization dynamic in the rapidly changing global environment. It is rewarding to see our efforts reflected in our recognition as a ‘Great Place to Work’, which stands as a testament to the workplace we have built together over the years. As these enduring values continue to guide Elecon, the fourth generation joins the business. Aayush Shah who holds a bachelor’s degree in Mechanical Engineering from Georgia Institute of Technology, USA, has carried forward this legacy since 2017 with a deep commitment to the principles that have defined the company, ensuring that the pillars of Elecon remain strong for generations to come.”
As Elecon enters its next chapter, the company is demonstrating that a long history is not simply a reflection of past achievements, but a platform for future growth. By combining world-class engineering, continuous investment in innovation, and an unwavering commitment to its founding values, the Group is well-positioned to support the evolving needs of industries around the world.
For Mr P. Patel, the path forward is clear. While technologies, markets, and customer expectations will continue to evolve, Elecon’s focus on quality, integrity, and long-term partnerships will remain unchanged. With a strong global presence, an expanding portfolio, and the next generation of leadership now contributing to the business, it’s clear that Elecon is not only celebrating a remarkable milestone but also laying the groundwork for decades of continued engineering excellence.
“Our objective for the future is to strengthen Elecon’s position as a globally respected engineering company,” he reveals. “We intend to significantly increase our overseas business through various initiatives, such as continuing to expand our manufacturing capabilities, introducing innovative technologies, and strengthening our presence in high-growth industrial sectors. We also intend to further deepen customer relationships through after-sales support services.
“Along this path, we are steadily progressing towards our long-term strategic goal of achieving a balanced contribution from overseas markets,” Mr P. Patel concludes. “Equally important is leadership continuity. We have a strong professional management team supported by the next generation of leadership, which gives me confidence that the organization is well-positioned for sustainable long-term growth. We are grateful to our customers, employees, business partners and shareholders who have contributed to this journey. The next chapter for Elecon will be defined by innovation, global expansion, sustainability, and the same values that have guided us since 1951.”
