Hitachi of Japan, on Monday, said it was looking to expand its footprint in the domestic market with an aim to triple revenues by 2015-16. Its revenues from India stood at Rs.6,700 crore in 2011-12.
In the process, the company plans to hire 6,200 people, taking the total workforce in the country to 13,000.
“The expansion will comprise providing services in the construction machinery and IT segments apart from engaging in supplying urban transport equipment for the metro trains or monorails here,” Hitachi Executive Vice-President and Executive Officer said.
The firm would also look to expand in Africa, the Middle East and Southeast Asia, using India as a base for construction of machinery and power electronics products.
Hitachi is making efforts to reduce its dependence on the Japanese market, and is looking at bringing down the share of its revenue from Japan to 50 per cent of the overall revenue by 2015-16 from 59 per cent in 2011-12. Additionally, it expects the revenue contribution from India to grow 3 per cent from one per cent. The company, which had earlier announced plans to invest Rs.4,700 crore in India by 2015-16, said till now it had invested a total of Rs.2,300 crore.
Besides construction machinery and air-conditioning systems, Hitachi provides a wide range of solutions such as IT systems, power systems and transportation systems, among others.
