New Delhi, India (Urban Transport News): German firm Siemens AG is finalising its strategic investment plan for the next five years for India as its investments in the country are likely to be "more ambitious" than before, said Roland Busch, President and Chief Executive Officer at Siemens AG.
Busch said that Siemens has invested close to Euro 1 billion in the past five years in India. The investments included its biggest ever acquisition in the country - a Rs 2,100 crore deal for acquisition of electrical and electronic equipment maker C&S Electric - in March this year.
Talking to Economics Times, Busch said that Siemens India which led by CEO Sunil Mathur is preparing a detailed strategic plan for the country and will finalise the plans soon. It will be more ambitious than the one before.
According to Busch, Siemens has hiked its growth forecast for FY21 ended September to 11-12%, on a sharp recovery after the disruption caused by Covid. It expects growth to be around 5-7% in fiscal 2022.
"Siemens reviewed its performance across businesses in different countries in January-February to assess growth rate over next five years. While the US and China seem to lead, India had potential to be a growth driver," added.
Siemens India focuses on the areas of power generation and distribution, intelligent infrastructure for buildings and distributed energy systems, automation and digitalization in the process and manufacturing industries. It also supplies smart mobility solutions for rail and road transport and infrastructure solutions for Smart Cities.