Hitachi of Japan on Monday said its India operations would now act as its regional headquarters. India would join China, Southeast Asia, Europe and the Americas as ‘key management areas' outside of Japan for Hitachi.
“India, which was a part of Hitachi Asia Ltd. (the regional headquarters for Asia business), has been re-positioned as an independent management area and Hitachi India Pvt. Ltd. (Hitachi India) will lead other Hitachi Group entities in India to strengthen structures to enable faster business rollout in India,” a company statement said.
“The move is part of our ‘new globalisation plan' comprising measures to accelerate growth strategy of the social innovation business and telecommunications technology. Now Hitachi India's responsibilities and authority will be expanded. We aim to double our revenues from India and are keen to acquire firms to grab a bigger market share in a short span of time,” said Hitachi India Managing Director Ichiro Iino.
“In the coming few years, we expect to increase revenues of Hitachi India to around Rs.12,000 crore as compared to Rs.5,400 crore for the last fiscal,” Mr. Iino added. Hitachi's consolidated global revenues for the last fiscal stood at 9,315 billion yen (Rs.5.60-lakh crore).
Hitachi, which began Indian operation in the 1930s, has been involved in a variety of business activities, including the manufacture and sales of air conditioning equipment and construction machinery.
In 2010, Hitachi established BGR Turbines Company Pvt. Ltd. and BGR Boilers Company Pvt. Ltd. and has been working to expand the thermal power business in India.
The Japanese firm is also expanding its base in India in the information and telecommunication business. In January, an office of the Hitachi Research Institute, named “Economy and Industry Centre”, was opened in Delhi, and a new Research and development base for the information and telecommunication systems business field is scheduled to open in Bangalore by March, 2012.
