Hitachi on Wednesday said it would set up a new research and development (R&D) centre in India next fiscal, while the Japanese consumer durables major is also planning a new production facility for its range of products. The company also hopes to double its turnover to $2 billion in India by 2013.
“Currently, we have a turnover of around $1 billion in India…our plan and mission is to double it in the next couple of years. We will keep on looking for business opportunities in the country,” Hitachi Asia Chief Executive Yasunori Taga told journalists here.
Hitachi has also started the process of setting up its first R&D centre in Bangalore that would be operational by the end of next fiscal (2011-12). “Our vision is to have one R&D centre in India to address the global needs as well as to develop products for the local market. We also need to set up a new production site to meet the demand of the country and to have direct access to the market here…therefore we are looking at setting up our fifth manufacturing facility in the country in order to meet the growing demand,” Mr. Taga said.
Hitachi, which is participating at the two-day Eco-Products International Fair 2011 starting here on Thursday, is also focusing on promoting its eco-friendly products in India and has already lined up a range of energy-efficient products for the Indian market. “Our contribution to the global turnover is less, around one per cent. We want to increase it. We are very much working on the kind of energy-efficient products that we can bring to India. We plan to help reduce annual CO{-2} emissions by 100 million tonnes by fiscal 2025 through our products and services for the prevention of global warming. To this end, Hitachi aims to make all group products eco-products by fiscal 2025,” Mr. Taga added.
