Peter Loescher, Global CEO of German giant Siemens, in India during Chancellor Angela Merkel's visit this week, talks about the company's plans for India and speculation about the Indian subsidiary's de-listing.
Are you happy with the growth of your Indian business?
Looking at our last quarter, you can see that Siemens has increased both revenue and order intake in India. Compared to our second quarter in FY2010, our new orders, for example, climbed nearly 60 per cent to more than 800 million.
This equals almost four times the growth compared to China or the US. And over the last five years, our order intake has grown over 50 per cent. Those are excellent results, but you can be assured: Siemens will not lean back now!
What growth areas are you are looking at?
The mid-market segment has the strongest growth in India and other emerging countries. We want to benefit from this growth.
Therefore, we will further invest in the development and manufacturing of products for this market. India will be a major hub for this.
We have already more than 60 products in the pipeline here, and we are confident that we will increase our business in this segment significantly over the next few years.
Does India rank high as an investment destination, too?
Siemens has been in India for more than 100 years. From the very beginning up to today, we identified India as an important location for investment. This means Siemens looks at a long-term co-operation.
We are here to stay! Just last year, we announced investment of 250 million over three years in India to expand our product portfolio for the mid-market
It will be tough for Team India to win series in England, feels Ganguly
Reliance Capital to hire 3,500 managers, 50,000 agents
Merkel's plane denied permission to fly over Iran
Hotels go all out to recreate Mohali magic
Lifting the veil on high priests of globalization