New Delhi, Oct 30 (IANS): Construction equipment giant JCB Wednesday announced its foray into hand and power tools business in India and said it aims to become a major player in the segment in the next three to five years.

JCB India, a fully owned subsidiary of UK-based JC Bamford Excavators Limited, is largest manufacturer of construction equipment in India.

“In the next three to five years we target to emerge as a significant player in India in hand and power tools business also. We are already the leader in construction equipment,” John Atkinson, worldwide head of JCB consumer products, said at a media conference here.

Atkinson said JCB started hand and power tools business three years back in UK and has a turnover of $120 million from the segment. “In India, we have $500 million opportunity. Our target is to capture a significant portion of this business here,” he said.

Amit Gossain, JCB's executive vice president for marketing and business development, said the company has entered into an agreement with leading hand and power tools manufacturers -- Groz Private Limited and Master Alloys Limited respectively to manufacture, source and distribute JCB branded tools.

“JCB has specifically designed a range for the Indian market to serve robust usage and longevity,” Gossain said.

The range of power tools include Angle Grinder with back and side switch, circular saw, planer, marble cutter, electrical drill and rotary hammer.

Hand tools range includes storage solutions, specialty tool sets, cutting and pipe tools, measuring and layout tools, striking and finishing and general tools for automotive and industrial applications.