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OEM Update

Siemens to invest more than €250 million in India by 2012

March 11, 2010 7:26 am

“Over the next three fiscal years through 2012, the company intends to invest more than €250 million in the country”
 
As it profits from ongoing growth in the emerging nations, Siemens is seeking to significantly expand its investment in India. Experts forecast that the Indian economy, for example, will grow seven percent in 2010 and eight percent the following year. “India is already one of the growth drivers worldwide and will remain so in the future. We’ve been optimally positioned here for over 140 years and intend to further strengthen our position,” said Peter Löscher, President and CEO of Siemens AG. Over the next three fiscal years through 2012, the company intends to invest more than €250 million in the country, thereby doubling its current annual investments. A major part of this will be invested in renewable energy and value-priced products business. The company also wants to increase its market share in India to ten percent by the year 2012. With recently signed orders totaling over €500 million, primarily for energy technology, Siemens is well on its way.

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