The standards of the capital goods industry in India, used for public investments, are now on par with global standards, according to Bharat Kaushal, the Managing Director of Hitachi India.
"Fifteen to twenty years ago, when companies invested in India, the Indian market was more cost-to-cost, and margins were earned overseas. However, now, what is produced in India and overseas is comparable. So, value and volume amortization is much better," Kaushal stated to Moneycontrol on the sidelines of WEF 2024.
Hitachi in India has been actively involved in the power, digital payments, railways, and ATMs sectors.
Kaushal noted that business in the ATM and digital transaction sectors has grown rapidly in the last seven years.
"The ATM and digital transactions have both doubled and grown explosively in the last six to seven years. It is a significant business. From a Make In India perspective, we manufacture most of that stuff here," he remarked.
Looking ahead, Kaushal mentioned that Hitachi India will focus on all sectors of its offerings as "India provides a humongous opportunity."
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