Business

Fuji Electric eyes ₹1,500 cr. India revenue

Power electronics company Fuji Electric expects to increase its India revenue to ₹1,500 crore by 2023 from ₹660 crore in FY18-19.

The company has also unveiled a 2.0 strategy for India.

“The 2.0 plan involves integration of business in India, including Consul Neowatt [which was acquired this year], Fuji Electric India and Fuji Gemco, to ensure all Fuji electric customers in India have the same and consistent pre-sales and post sales experience,” Kenzo Sugai, executive vice-president and elected corporate director, Fuji Electric, said.

He also said the targeted markets for the company products represented a market opportunity in excess of ₹10,000 crore.

Fuji Electric expects its global revenue to reach $10 billion by 2023 from $8.5 billion in 2018, with India planning a major role.

Sriram Ramakrishnan, MD, Fuji Electric India Pvt. Ltd., said the company will focus on three major sectors - buildings/infrastructure (which covers data center, metro), light industry like automotive, and heavy industries like power. Major products would be three-phase UPS, automation products and variable drives among others.

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Printable version | Feb 21, 2020 2:28:23 PM | https://www.thehindu.com/business/fuji-electric-eyes-1500-cr-india-revenue/article29912996.ece

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