BUSINESS

Siemens sees in Indian arm a key contributor

UPBEAT ON INDIA: Klaus Kleinfeld, President and CEO, Siemens AG, and J. Schubert, Managing Director, Siemens, at a press conference in Mumbai on Thursday.  

Staff Correspondent

MUMBAI: Siemens AG, the global infrastructure and engineering giant, has identified India as a key market for growth in Asia. Addressing the media here on Thursday after a senior board committee meeting of Siemens AG, Klaus Kleinfeld, President and CEO, Siemens AG, said, "India is among the fastest growing economies in the world with a large middle class.

13 plants across country

In the next ten years, it will have three mega-cities, which is the largest share of any country.

With 13 manufacturing facilities located across the country and several `centres of competencies', Siemens India is well poised to play a larger role in the manufacturing strategy for Asia. Siemens recently announced the setting up of a new transformer factory at Kalwa, near Mumbai, which will be the 14th in India and its eighth in Maharashtra.

Siemens' IT arm, Siemens Information Systems Ltd. (SISL) contributes significantly to software and research. Ithas about 4,000 software professionals of which nearly 1,200 are engaged in healthcare software development. The company recently invested in a facility in Bangalore to house an additional 1,000 professionals and it is also expanding its software operations across other cities. Juergen Schubert, Managing Director, Siemens, said, "The visit of the Central Executive Committee of the managing board of Siemens AG is a clear signal that India is a key contributor and will play a larger role as a partner in the regional and global operations."

According to Mr. Schubert, it will be investing up to Rs. 300 crore in its facilities here. Mr. Kleinfeld said, "If an opportunity comes up — and one is talking of classical manufacturing and R&D and not only software but additional resources also will not be a problem." The winning of the contract last week from Qatar by Siemens for $600 million is seen as a significant step as all the equipment will be designed and manufactured at its facilities in India.