Schneider Electric, a player in electrical distribution, industrial control and automation, is bullish on the Indian market, and plans to make India an export hub.
Schneider is expanding its operations in the country, where it is also looking for acquisitions to fuel growth. The company's Chairman and Chief Executive Officer Jean-Pascal Tricoire said Schneider is witnessing growth of nearly 50 percent annually in India, and that it expects that rate to accelerate in coming years.
Tricoire said, "We plan to make India an exporting hub for the rest of the world, toward which we have a new factory in Hyderabad. Last year, 15 million Euros worth of exports to the Middle Eastern and African countries was made out of India."
The company's subsidiary, Schneider Electric India, generated revenues of 120 million Euros in 2005. The Indian market holds considerable growth potential for the company, Tricoire said. Schneider Electric India currently has manufacturing facilities in Chennai, Baroda, Nashik and Hyderabad and a Research and Development centre in Bangalore.
Schneider Electric's global technology centre in Bangalore, which has 400 people, is the largest R&D centre outside of France and the company has plans to ramp up its head count to 600 this year.
About the author
Uday Lal Pai is a freelance journalist based in India.