"We needed to get the infrastructure in place, get our engineers trained before we could go to the market," said Kone GM marketing and exports S Ravi.

Managing director A Sankarakrishnan who addressed a media meeting here said currently monospace elevators were being imported at very high duty (53 per cent) but in three months time the indigenisation process would begin.

Depending on volumes, 75 per cent indigenisation is possible. This would bring down prices but it would still be 15 per cent more expensive than the conventional elevators.

However, the elevator reduced structural costs (cement, steel, cabling) as no machine room was necessary. The elevator also reduced power consumption by 53.3 per cent.

Presently, the company has got an order for 9 unitsand has already launched the same in Globus departmental stores. It will also be introducing the minispace technology a few months from now (even greater speed elevators, larger in size but lesser in weight than the conventional lift, using the same monospace technology).

This will however have a small machine room due to the larger structure of the elevator. Both the monospace and minispace elevators use the ecodisc technology, the hoisting technology and control room unit for elevators.

Kone worldwide is targeting sales of 18,000 units globally by the turn of the century. It has a net sales of Euro 2082 million. Kone India has a market share of 24 per cent in the country.