Incorporated in 1976, Indore-based M & B Switchgears is a leading name in the field of distribution transformers, power transformers and special-purpose transformers. Anurag Mundra, in an exclusive interaction with Venugopal Pillai, dwells on a number of important issues in the Indian transformer industry like BEE's mandatory star-labeling programme for distribution transformers, lack of high-voltage testing facilities in India, competition from China, etc. About his company, Mundra observes that the approach of continuously changing the market-mix and focusing on industrial clients has paid rich dividends.