Background

SureTech International was established in 2002 by Mr. R.K. Chanana, a Chartered Accountant with over 25 years experience in professional practice, completely devoted to advising his clients on setting up new industrial projects in India. His professional career focused on bringing to India globally emerging technologies which would be intrinsic to the country’s future needs for growth, thus contributing in his own way towards every Indian’s responsibility of nation building.

Along with rendering advice to his clients on globally available competitive technologies in a very wide spectrum of industrial sectors and the evaluation criteria for selecting the best technologies and machineries suited to Indian conditions, Mr. Chanana, being a finance professional at core, was at the same time deeply involved with the financial planning, layout and syndication of finances for his clients’ projects. His evolvement of a large number of unique financing patterns for project financing won him many accolades and laurels, both from amongst his co-professionals as well as industry leaders.

As long back as the mid-1980s, he earned the unique distinction of being the first Chartered Accountant in India to arrange seed equity from the German Government for an industrial project set up in India with German technical and financial collaboration, both of which were also arranged by him. In the years to follow, he was honored with many such unique first time achievements.
During his professional career he was exposed to a very wide array of leading global technologies which required in depth comparative analysis and a deep understanding of their long term susceptibility to obsolescence, before advising on their import. One of the outstanding examples of his farsightedness was his advice nearly three decades ago, on technology import for the extrusion of cold formed seamless metal and alloy tubes. This cutting edge technology is still one of the latest available globally, is very much in use and is today serving some of India’s most strategic and critical defence requirements.

By the 1990s the winds of economic liberalization were beginning to gather momentum in India. It was at that point in time that he could visualize how, when and where India’s industrial and service infrastructure would build up over the next few crucial decades of growth and when and where the next wave of value creation opportunities would hit its shores. By the turn of the century he could foresee with certainty that “liberalization with localization” would be the “mantra” that would pole vault India into achieving the status of a developed nation.

Given on the one hand, the country’s strategic need for Indian companies to globally source, import and localize critical technologies, especially from the western nations, where growth had reached “near stagnation” levels and consequently the need for them to export their technologies and products to the world’s latest nation to open up internationally, coupled on the other hand, with the huge market potential offered by India, the timing seemed just right for Mr. Chanana to float his new international technology sourcing firm.
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Our Mandate

SureTech International was formed to pursue several clearly defined goals and business models. It would have a “global technology reach” and based on the strong foundations of Mr. Chanana’s vast experience in this area, its mandate would be to source the most outstanding, field proven, high market potential technologies available internationally in sectors that offered strong and stable long term growth, both within India and globally.

Whilst strongly pursuing its mandate in sourcing technologies for some of India’s sunrise sectors like manufacturing for the defence, homeland security and disaster management, SureTech would ensure that the technologies selected would “qualify” one of its prime selection criteria - they would necessarily have to offer the possibility of manufacturing dual use products – both civil and defence. This approach would provide one of the strongest pillars to the foundations of the units adopting these technologies, by reasonably ensuring that they would remain strong under various kinds of political and business conditions, while at the same time yielding robust and continued returns on investments to their stakeholders.

At the same time if the selected technologies and product lines offered the possibility of sales in India for introduction and localization of the technology, SureTech would introduce the technologies and market their products as well.

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What We Offer

International Representations

The changing global security paradigm requires new ways of thinking: new threats - therefore new systems, new technologies and new organizational structures and partnerships for cooperation and risk-mitigation. This new security environment is driving India’s need for cutting-edge technology and equipment. With the opening up of the economy, including of the defence sector, a new era of partnership between the state and the private sector, both, at the national and global levels, is beginning to take shape, a partnership that will greatly strengthen Indian defence technology and production capabilities.

The Government of India has taken concrete steps to increase the level of private sector participation in the defence sector to complement the efforts of Defence Public Sector Units (DPSUs), Ordnance Factory Board (OFB), Defence Research and Development Organisation (DRDO) and other State Enterprises. Private industry is making strong and focused endeavors to bring state-of-the-art technology to India through collaborations, joint ventures and technology transfers to supplement the efforts of the Government, DPSUs and OFB in enhancing India’s security capabilities.

With our well defined representation parameters as guidelines, we offer representation services to international firms planning on exporting their technologies and products to India. At the same time such firms should also ideally, be able to offer localizing, productionising and timely obsolescence management of their technologies along with life-cycle support to customers.

For such clients we arrange technology licensing and manufacturing tie-ups with the best suited Indian Partners, both from the private as well as public sectors, who have the capabilities required to absorb and introduce the imported technologies and products in India and are able to follow up with manufacturing for the Indian market as well as for exports, so that their international partners are able to gain the much needed globally competitive edge.

Technology Introduction and Product Marketing

As one of our mandated objectives of tying up technologies which offer products with dual, civil and military use possibilities, we offer technology introduction and product marketing services to government technology and product development labs like DRDO, Research & Development Centers and institutional customers. The results of these services which require in depth technology and product knowledge, in fact provide extremely valuable and quick indicators to clients which are extremely helpful to them in making their decisions to extend their commitments in India, and that too, at a very economical cost.

To be able to offer the most efficient, time and cost effective services, we strongly suggest and often insist that a short, concentrated, orientation program covering the client’s technologies, manufacturing and marketing systems and operations be arranged for us by the client at its location. This approach has been developed on the basis of past experience and has always proved to provide returns to clients many times over the time and money invested by them on such programs.

Advice on Offsets

The Defence Procurement Procedure laid down by the Indian MoD is a complex document and requires in depth knowledge to be able to understand its various ramifications completely.

With Mr. Chanana’s vast and rich experience with import of global technologies, sourcing the right Indian industrial partners and putting in place the financial arrangements required for putting technologies into production, he is aptly suited and one of the best to offer advice on the applicability, banking and discharge of offset obligations.

Discharge of Offset Obligations

This is the most important area concerning Offsets where correct and timely advice can yield rich dividends for clients. This advice can cover very broad and diverse fields such as, sourcing companies offering aptly suited products and services to meet export obligations, sourcing Indian companies offering potentially high yield investment opportunities in JVs, co-development of new products in JVs and planning time bound programs for fulfillment of offset obligations within the main contract period. Once again, with Mr. Chanana’s long and varied experience in all these fields, he is undisputedly one of the best to offer advice on and play a proactive role along with clients in fulfilling their obligations in these critical areas.

Besides, regular interaction with the Defence Offsets Facilitation Agency (DOFA) is required for companies covered by offset obligations. DOFA assists in vetting offset proposals technically, in monitoring offset provisions and advises on areas in which offsets are preferred, besides promoting exports of defence products. Such offset related and other follow-up areas like reporting on offset fulfillment are some of the other key areas which we cover for our clients.

Advice on Company, Taxation and other statutes

Various Indian laws especially Indian company law, taxation and a fairly large number of other statutes and laws become applicable in varying degrees to foreign entities, whenever they plan on entering into business ventures in India. With his long professional career background as a Chartered Accountant, during which he advised his clients on accounting matters as well as on business laws, Mr. Chanana is aptly suited and continues to render valuable and timely advice on these matters to his international clients as well.
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Sole Representatives in India for PulseTech, WEW, Giertsen Tunnel AS, Marvel Aero International and Irdam