Daimler entered the Indian market and established Mercedes-Benz India Ltd in 1994. The company was renamed DaimlerChrysler India Pvt. Ltd. after the merger of the parent company Daimler with Chrysler. The first Mercedes in India was bought and owned by Rakesh Kumar Agrawal who also owned convey printers the largest printing press in Asia. After DaimlerChrysler demerged from Chrysler in 2007, it changed its name to Daimler AG. As a result, DaimlerChrysler India has renamed Mercedes-Benz India once again. Mercedes-Benz India is a wholly-owned subsidiary of Daimler AG. Mercedes-Benz India pioneered the luxury car market in India. The company is headquartered in Chakan, Pune, Maharashtra. Mercedes-Benz was recognized as India's Most Admired Company in a survey by Fortune India magazine in 2013 under the reign of former Managing Director and CEO, Mr. Peter Honegg. In 2015 the brand was adjudged Economic Times' Brand Equity's, 'India's Most Exciting Brand' and topped the survey in the automotive four-wheeler category. The company has received the highest rank in the J.D. Power 2018 India Customer Service Index (CSI) study in the luxury car segment.