Siemens to invest $ 500 million in India

After fulfilling its commitment to invest $ 500 million in India, Siemens will now invest another $ 500 million within the next few years in the area of energy, health and IT and communication. The amount that would go into IT and telecom could not be accessed. 

The company would continue investing in R&D to the tune of $ 6 billion worldwide and of which 60 percent would go into software development projects. Its IT related operations include software development, R&D, acquisitions and IT-enabled services at a later stage. 

The focus areas for the investment include leveraging on the IT capabilities of the Indian operations, in order to support worldwide projects. It is also to increase hardware sourcing from India, enhancing value chain, honing local skills through training and using local manufacturing facilities and resources to cater to the export market. 

Siemens in India is offering a comprehensive range of products, systems, solutions and services for the electrical and electronics market. With the new investments, the Indian operation would be able to propel its growth based on new opportunities in India. The focus being on infrastructure development. 

"We want to partner with India in the future. With our strong local presence we would realize India's infrastructure needs," said Heinrich V Pierer, CEO, Siemens AG. Siemens has no plans in setting up a mobile handset manufacturing base in India." We do not see India as a potential manufacturing unit because it is not justifying for only a 5.8 subscriber base," added Heinrich.