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Siemens to up India turnover

German power equipment major Siemens AG sees its India turnover doubling in the next three years, reports Suman Layak.

india Updated: Aug 22, 2007 05:06 IST
Suman Layak

German power equipment major Siemens AG sees its India turnover doubling in the next three years. Siemens’ new president and chief executive officer, Peter Loscher said that its global strategy meeting in September would chart out the course of how the Indian operations of the company will be scaled up.

This was Loscher’s first visit to an Asian country after taking over as the CEO of Siemens. The Indian arm Siemens India has been in operating for more than 50 years and is listed in India bourses.

Loscher said: “India is a fantastic growth opportunity. This is the first country I am visiting in Asia and we have outlined a triple strategy for growth in India.”

The triple strategy as outlined by Loscher is to explore new businesses and geographies in the domestic Indian market, look at more export possibilities from India and also increase Siemens’ global sourcing from India for the regional and global markets.