Siemens, a German multinational that focuses on technology and rail transport development, remains committed to the India story and will continue to invest in the world’s fifth largest economy, Peter Koerte, member of the managing board, told Moneycontrol at the World Economic Forum (WEF) happening in Davos.
“We’ll continue to invest into India for a lot of things such as railways…and so there’s significant investment in manufacturing but also in software. We find an incredible, skilled and young workforce in India (who are) very eager to learn. These capabilities are very much required,” Koerte said in the interview.
The railways order is for 1,200 locomotives of 9,000 horsepower (HP), marking the single largest locomotive order in the history of Siemens Mobility, the transport solutions arm, and the single largest order in the history of Siemens in India.
The company will design, manufacture, commission and test the locomotives.
Apart from locomotives, the commuter rail – which is the metro – is another area that is proving to be “an incredible opportunity” for Siemens.
In December 2021, the company was given the responsibility to develop 23 kilometers of the Pune metro. It was done through a joint Venture between TRIL Urban Transport Private Limited (a Tata Group Company) and Siemens Project Ventures GmbH (subsidiary of Siemens Financial Services) under Public Private Partnership Route (PPP).
The German multinational is also setting up centres close to universities in Pune and Bengaluru, a move that enables it to attract and hire top talent.
On a broader level, Koerte said “AI and hope” are the two words that will shape discussions on a global level especially because of the technological advancements and Donald Trump becoming president of the United States on January 20.
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