During his first visit to India as the president and CEO of Siemens AG, Peter Loscher announced that India would continue to be an important market for the German engineering multinational.
Loscher said, "India is a key market for us and we will continue to strengthen our operations here." India is the first country Loscher visited in Asia after taking over the charge of Siemens.
"There are huge opportunities in the domestic market that are still untapped and Siemens will increase its focus on India to address newer sectors and geographies", the engineering major said.
With its technological edge and capabilities in software, engineering and R&D, India continues to play an important role in the Siemens' global strategy. The Indian operations, Siemens India, today said that it would double the size of its operations in the next three years.
With three Indian cities featuring amongst the 10-mega cities identified worldwide, India offers huge potential for development and modernisation.
Loscher said the growth in India would be in the areas of domestic business, exports and sourcing.
The German company says, "progressive policies have also brought in tremendous opportunities in areas like infrastructure, healthcare and information and communication and Siemens India is well equipped to leverage these opportunities with its comprehensive portfolio, breakthrough innovations and environment-friendly solutions".
Public transportation, healthcare and communications are big opportunities are some of the areas that the Indian company expects to expand in.