Arkel India Announces Departure of Managing Director and JV Partner, Mr. Anurag Gupta

Vadodara, November 7, 2024 – Arkel Electronic India Private Limited (“Arkel India” or “the Company”), a leading company in the elevator control systems and components industry, today announced the departure of Mr. Anurag Gupta, who has stepped down from the role of Managing Director effective October 28, 2024. Mr. Gupta leaves after six years of association, during which he was instrumental in establishing the joint venture, driving the Company’s growth, and strengthening its market position.

Mr. Gupta and Arkel Elektrik Elektronik Sanayi ve Ticaret A.S. (“Arkel Türkiye”) founded Arkel India as a joint venture in 2018 and has since overseen significant milestones, making the Company one of the strongest players in India elevator control systems and components market. Under Mr. Gupta’s leadership, Arkel India advanced its mission with the establishment of a state-of-the-art production facility, which is expected to become operational in early 2025. In July 2024, Swedish group Innovalift signed an agreement to acquire 100 percent of the shares in Arkel Türkiye to expand its geographic reach and complement its product portfolio of components for elevators. 

The Board of Directors extends its gratitude to Mr. Gupta for his dedication, vision, and invaluable contributions to Arkel India. His leadership has not only strengthened the Company’s market position but also set a foundation for continued growth and innovation within the industry. The Board wishes him the very best in his future endeavors, confident that he will continue to make a positive impact in his next chapter.

“I am incredibly proud of what we have achieved together as a team at Arkel India,” said Mr. Gupta. “It has been a privilege to establish and lead such a distinguished company, and I look forward to seeing the continued success of Arkel India in the years to come. I want to extend my heartfelt thanks to the current owners of Arkel Mr. Melih Küçükçalık (Co-founder of Arkel) and Mediterra Capital, for believing in my capability and integrity to lead Arkel in India.”