Schneider Electric is setting up its 10th manufacturing plant in Hyderabad with an investment of euro 5 million. The proposed plant will be used to manufacture high technology products used in electrical distribution, industrial control and automation for the global markets.
Addressing the media, Jean Pascal Tricoire, president and CEO said: ”India ranks amongst the top three economies and energy is playing a key role at each stage of India’s development. Our solutions will help customers meet the ever-increasing need for safe and environment-friendly energy.” He was here to address a three-day meet ‘Initi@tive India 2007’ which is showcasing simple solutions to complex power and control problems.
On Hyderabad centre, he said that the plant would be engaging more of women workforce for developing new products to cater to global markets. The land has already been allotted by the Andhra Pradesh government and the company expects to commission it by next month. Interestingly, the company has tripled its revenue size in the country from Rs 300 crore to Rs 1,100 crore last year and is hopeful of achieving 51% growth year-on-year.
”We will further develop Schneider Electric India’s global capabilities such as R&D, projects and services, software development. Besides, we leverage the capabilities in India to develop regional competency centres in projects and solutions,” he said.
The company is also eyeing acquisitions to enlarge portfolio and provide solutions. “We are also looking at India for more ‘future ready’ projects and the country is also a crucial partner in its global network programme.” When asked about the competition between India and China, he said that both the countries are important, however, India would be the host country to develop future technologies for rest of the world.