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Siemens bets on India for Asian growth

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EXPANSIVE MISSION: Dr Klaus Kleinfeld, President & CEO, Siemens AG, and Mr J. Schubert, MD, Siemens Ltd, at a press conference in Mumbai on Thursday. — Paul Noronha

Mumbai , Dec. 1

THE German multinational Siemens AG, which has identified India as the group's key growth market for Asia, said on Thursday it will augment its manufacturing facilities in the country.

This includes setting up of a transformer factory at Kalwa near Mumbai— its 14th facility in India. The group would be making a fresh investment of Rs 300 crore in India. However, Dr Klaus Kleinfeld, President and CEO of Siemens AG, said " I would not like to put any limitations in our terms of financing. We will invest in every opportunity that we have expertise in."

Dr Kleinfeld, currently in India along with the group's central executive committee, told presspersons here that India has emerged as a "key pillar" in the Asian region, contributing substantially to the global value chain.

Indian operations were already contributing significantly in the area of software and research through its IT arm, Siemens Information Systems Ltd (SISL). "At present, the company has about 4,000 software professionals, out of which nearly 1,200 are engaged in healthcare software alone. SISL partners with all the businesses of Siemens AG and undertakes software development in verticals as diverse as automotive, telecom and healthcare," he said, adding that it was expanding its software operations across other cities in India.

The company has invested in a new building at Bangalore, which will in the near future house an additional 1,000 professionals.

Dr Kleinfeld said a new area that the company was planning to enter in India was water purification. After a recent acquisition in the US, Siemens now has the technology for water purification and wastewater treatment. "We are exploring the possibility of rolling out the technology in India," he pointed out.

On the research front, he said Siemens had recently set up a high-end research centre in Bangalore, which is the ninth such facility of Siemens Corporate Technology worldwide, serving as a network hub for part of the Asian regions.

The Siemens group is a leading provider of industry and infrastructure solutions in India, with a business volume aggregating about Rs. 5,400 crore.

The share closed at Rs 3364.10 on the BSE today.

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