Siemens to invest $500 million in India
By Our Corporate Bureau | 08 Mar 2002
Mumbai: Siemens has announced its plans to invest US $500 million in India to propel growth, based on new opportunities, and furthering its business interests. Having consolidated its leadership position in India, offering comprehensive products, systems, solutions and services for the electrical and electronics market, the group intends to increase its focus on infrastructure projects in the country.
The corporate executive committee of Siemens AG held its first-ever board meeting in India this week, in which the investment decision was made. Siemens AG president and CEO Dr Heinrich v Pierer said: “We want to partner India into the future. With our strong and reliable local presence, we are the ideal partners for realising India's needs in infrastructure development. For this, we are committing to make new investments in India to the extent of $500 million in the years to come.“
The Siemens group will use its collective strength to address the key industry and infrastructure segments in India. It also intends to make aggressive inroads into the market by exploring new business opportunities and avenues. The Indian operations of Siemens will play an increasingly important role in the global network.
The key focus areas identified by Siemens include: leveraging the IT capabilities of the Indian operations to support worldwide projects; increasing hardware sourcing from India to enhance the value chain; using the local manufacturing facilities and resources to cater to the export market; and enhancing local skills by increased investments in training programmes.
Siemens MD J Schubert said: “In India, Siemens is truly unique. We are probably the only company that can combine multiple high-end technologies together with processes for complete solutions. This, in essence, means Siemens is the ideal infrastructure partner for India.“
Moving forward, the group has identified the following elements for sustaining and managing growth: building and retaining customer loyalty and satisfaction; creating flexible and optimised processes, giving thrust on quality; enhancing the company's value through profitable growth; and developing competent and motivated employees.
Siemens is today uniquely placed to address infrastructure needs of a modern city by providing the complete gamut of products, systems, solutions and services, covering areas such as power, telecommunication and transportation. It is also strongly positioned to cater to the industry needs by undertaking complete projects such as hospitals, airports and industrial units across market segments.
The company boasts of an impressive presence, having grown in a decade from a single company with a business of Rs 480 crore in India, to multiple companies today aggregating to Rs 3,200 crore, and registering a six-fold growth. During this period, the company systematically built its portfolio, and invested over Rs 16 billion, despite the declining trends in the economy.
About Siemens completing its 80th year of operations in India, v Pierer said: “We stand for long-term commitment - commitment through thick and thin. I am proud to say we are an Indian company through and through.“
The Siemens group is a leading provider of industry and infrastructure solutions in India. It operates in seven core business segments of energy, industry, information, communication, transportation, healthcare and lighting. It has a nationwide sales and service network, 12 manufacturing plants and a 500-strong network of channel partners. Through its 12 companies, the Siemens group employs some 10,000 people.
The corporate executive committee of Siemens AG held its first-ever board meeting in India this week, in which the investment decision was made. Siemens AG president and CEO Dr Heinrich v Pierer said: “We want to partner India into the future. With our strong and reliable local presence, we are the ideal partners for realising India's needs in infrastructure development. For this, we are committing to make new investments in India to the extent of $500 million in the years to come.“The Siemens group will use its collective strength to address the key industry and infrastructure segments in India. It also intends to make aggressive inroads into the market by exploring new business opportunities and avenues. The Indian operations of Siemens will play an increasingly important role in the global network.
The key focus areas identified by Siemens include: leveraging the IT capabilities of the Indian operations to support worldwide projects; increasing hardware sourcing from India to enhance the value chain; using the local manufacturing facilities and resources to cater to the export market; and enhancing local skills by increased investments in training programmes.
Siemens MD J Schubert said: “In India, Siemens is truly unique. We are probably the only company that can combine multiple high-end technologies together with processes for complete solutions. This, in essence, means Siemens is the ideal infrastructure partner for India.“
Moving forward, the group has identified the following elements for sustaining and managing growth: building and retaining customer loyalty and satisfaction; creating flexible and optimised processes, giving thrust on quality; enhancing the company's value through profitable growth; and developing competent and motivated employees.
Siemens is today uniquely placed to address infrastructure needs of a modern city by providing the complete gamut of products, systems, solutions and services, covering areas such as power, telecommunication and transportation. It is also strongly positioned to cater to the industry needs by undertaking complete projects such as hospitals, airports and industrial units across market segments.
The company boasts of an impressive presence, having grown in a decade from a single company with a business of Rs 480 crore in India, to multiple companies today aggregating to Rs 3,200 crore, and registering a six-fold growth. During this period, the company systematically built its portfolio, and invested over Rs 16 billion, despite the declining trends in the economy.
About Siemens completing its 80th year of operations in India, v Pierer said: “We stand for long-term commitment - commitment through thick and thin. I am proud to say we are an Indian company through and through.“
The Siemens group is a leading provider of industry and infrastructure solutions in India. It operates in seven core business segments of energy, industry, information, communication, transportation, healthcare and lighting. It has a nationwide sales and service network, 12 manufacturing plants and a 500-strong network of channel partners. Through its 12 companies, the Siemens group employs some 10,000 people.