Honeywell International Inc. (www.honeywell.com) expects business at its India unit to rise at double the pace of its growth in developed markets. “India is an integral part of Honeywell’s global growth strategy,” said Honeywell Chairman and Chief Executive Officer Dave Cote.
“We grew from $22 billion to $37 billion; India has played a major role in doing that. If we go back six to seven years ago, we had 500 employees in India. Today we are at about 11, 000,” he added. He was in Bangalore May 7 to inaugurate Honeywell’s 690,000 square-foot research center there. The new facility is the largest in the company, can accommodate 3,000 people, and Honeywell plans to move in people from its temporary locations in Bangalore.
“We are committed to India as a manufacturing location, export hub and, most importantly, as a centre of engineering and R&D excellence. Honeywell has five manufacturing facilities and more than 20 other locations across the country with employees in 50 cities. We look forward to continuing our growth in India and building our capabilities here,” he said.
Honeywell expects sales of about $600 million in 2009 from India, which is slightly higher than what it earned in 2008. China and India are expected to grow at double the pace of the developed economies, he said, terming the two economies as bright spots in the world.
The company is also eyeing the security systems business with wireless applications, fire detection systems, and automation and control systems for managing entire petrochemical units in the country. “We see huge opportunities in harnessing the potential of the Indian manufacturing sector and meeting the country’s diverse industrial requirements to improve the standard of living through aerospace, automation and control solutions, transportation systems and specialty materials,” Cote continued.
Honeywell is well positioned in key growth areas including aerospace & defense, public safety and security, and infrastructure development. Honeywell is collaborating with Hindustan Aeronautics Limited (HAL) to produce TPE331 aircraft engines in India. The company is also pursuing a program to re-engine the Indian Air Force’s strike aircraft Jaguar with its F125IN turbofan engine.
Honeywell Technology Solutions (HTS)—the company's global R&D and innovation group—employs 6,000 engineers and is headquartered in Bangalore with additional centers in Hyderabad and Madurai, as well as internationally in China, the Czech Republic and the United States.
“India's intellectual capital is a competitive advantage,” said Dr. Krishna Mikkilineni, president, Honeywell Technology Solutions. “Our team of engineers is working on developing critical technologies for global and Indian customers ranging from safe landing systems for aircraft to security solutions for the home to high-end city surveillance and critical infrastructure protection solutions. Honeywell is building a world that is safer and more secure, more comfortable and energy efficient, more innovative and productive.”
About the author
Uday Lal Pai, email@example.com, is a freelance journalist based in India.
Honeywell International Inc.