The 27 billion euro MNC, Schneider Electric is preparing to make India its export hub on the back of government‘s policies such as Make in India, Digital India and Smart City Mission.
PM Narendra Modi's Smart City mission has got a host of multinational companies (MNCs) lining up to explore growing opportunities in the Indian market, the latest being- Schneider Electric.
Speaking exclusively to CNCB-TV18's Shweta Kothari, the Chief Technology Officer of the French automation company said they are betting big on Indian operations.
The French energy management company, Schneider Electric is confident of clocking double-digit growth in the Indian market. The 27 billion euro MNC is preparing to make India its export hub on the back of government’s policies such as Make in India, Digital India and Smart City Mission.
The company is currently focusing on building, infrastructure and industrial segments, while also tapping into India’s solar market both organically, as well as through acquisitions to diversify its growth vectors.
Prith Banerjee, Chief Technology Officer, Schneider Electric said, India is a very important market opportunity for us. We have products in different ranges- from low voltage to medium voltage products to automation in 5segment. Some of the early products came out of France. as we had a global footprint we started selling in India. Then we started manufacturing in India by sourcing in India. Now we are doing local innovations to make that product more relevant to in India. So, now we are on a journey where we are inventing in India, he said.
Below is his conversation with CNBC-TV18 correspondent
Q: What are the plans as far as R&D initiatives is concerned.
A: We invest 1.3 billion euro in R&D and about 11 thousand people are part of R&D. Of this 11 thousand, 1500 people are in India.
Q: Where do you see yourself in India’s digital story?
A: Digital India is extremely important and well aligned with our personal mission. Schneider has 4 priorities in terms of products and solutions and services and digitisation. We want to make all our products digital. Many products we are building are going to be connected and a part of digital India initiative.