The facility takes on work in telecom software, hospital information system call centre solutions and automotive electronics. "More and more projects in the medical, telecom, automation, and automotive fields will be handled here," he said.

According to Pierer, "We have earmarked $500 million for India, as announced earlier." The investment will be made in the in next three or four years for setting up new factories and expanding its existing capacities in the country.

He added that the company is tying in this investment in new ventures, technologies and businesses. "These investments are being financed largely by internal accruals of Siemens India as it is in financially very good shape. But if necessary, Siemens AG will also chip in with new investment plans."

He added that Siemens Information Systems Ltd, a subsidiary, has developed a biometric device that registers the user''s voice, a digital image of face and fingerprint on an identity card to ensure virtually foolproof identification of persons requiring access to a secure area.

To spearhead work of this kind, Siemens'' corporate technology department has opened a research centre in Bangalore, which will serve as the hub for many key activities in the Asia region, he said.

"We see enormous growth potential here in the coming years, and an opportunity for global players like Siemens to tap this outstanding talent," he said.

Pierer said Siemens would be setting up more research and investment (R&D) centres and it would be adding more software professional in R&D centre in Bangalore. "India is not only good place for local manufacturing but also export base," he said

"Siemens will be adding 70 more professionals in its Bangalore R&D centre. We are keen on tapping the pool of engineers available in India," he added. The company, he said wasa planning export of software solutions, hardware and medium-sized switch gear from India, even as it is expecting a 10 per cent growth from India.