Schneider Electric India, a key player in the energy management and automation industry, is currently exporting around two-thirds of its products manufactured in India globally, Deepak Sharma, zone president- Greater India, MD & CEO the company told FE.
“The robust growth trajectory of India, aiming to escalate from a $3.5 trillion to a $5 trillion economy shortly, provides a fertile ground for infrastructure and industrial expansion, necessitating substantial energy solutions,” Sharma said.
The energy management company currently operates 31 manufacturing plants across India and is on the verge of opening its largest factory globally in Bengaluru. This state-of-the-art facility entails an investment of Rs 450 crore and is slated for inauguration next year.
Sharma said that the Bengaluru plant is a part of the company’s ongoing cycle of investment plan of Rs 3,200 crore in India, which was announced earlier this year, that will be disbursed over 18 months. Further, he said that the company is also leveraging the government’s production-linked incentive scheme to enhance its manufacturing capabilities.
Additionally, the company is also transforming its existing manufacturing facilities into “smart” plants to integrate sustainable practices. “Currently, we have converted five of our facilities into smart plants, which are a testament to our commitment to sustainability and technological advancement,” Sharma said.
In line with global sustainability goals, Schneider Electric is focusing on reducing its carbon footprint and enhancing energy efficiency across its operations. “Our smart manufacturing initiatives are pivotal in our strategy to incorporate sustainable practices throughout our production processes,” Sharma added.
Further, the European company has established its largest AI hub in India, emphasising the strategic importance of Indian operations in the company’s global innovation roadmap.
Sharma also expressed ambitious goals for the Indian operations, aiming to elevate India’s position within the company. Currently, the US leads as the highest revenue contributor to Schneider Electric, which boasts an annual revenue of 36 billion euros. “However, our team in India is striving to surpass China and secure the second-highest revenue position,” he said.
Further, the Indian branches of the company has deployed AI across various company functions, including sales and HR, to enhance efficiency and productivity.
From: financialexpress
Financial News
