India’s first lift as per verifiable records was installed in 1892 at the Raj Bhavan, Calcutta.

A newspaper report from a few years back states that this lift has been modernised only twice – once in 1969 and a second time in 2010, perhaps an indication of the sturdiness and robustness of lift design and construction of yesteryears.

For most of the last century, lifts were still considered a luxury and the market growth was reflective of this trend. The growth remained pedestrian and was monopolised by Otis.

At the turn of the century, the situation changed. Even if not at the growth rate witnessed in China, the Indian lift market has been steadily growing.

Despite various roadblocks like the 1997 Asian Financial Crisis, 2008 Lehman Brothers collapse and recent pandemic, the market has always bounced back immediately on to the growth path.