Mumbai,30 Nov(PTI) With the Indian economy showing signs of recovery and the government laying emphasis on creating infrastructure, industrial products manufacturer Eaton Corporation expects over Rs 3,000 crore sales from its India operations in 2015, a senior company official has said.
Eaton Corporation, with interests in hydraulics, electrical, automotive, aerospace and truck segments, plans to make India its global research and development (R&D) as well as manufacturing hub.
“India is a very important market for Eaton especially with the opportunities the country offers in sectors like infrastructure, power, automobile, defence, mining, etc. The new government is also taking initiatives to encourage investments in these sectors from private and public sectors. This gives us confidence to expand our business in the country,” Eaton India Managing Director Nitin Chalke told PTI.
The over USD 22 billion company will generate sales of over Rs 3,000 crore from India operations in calendar year 2015, he said.
Eaton Corporation, which entered India in 1999, currently has seven manufacturing facilities and 18 sales offices here.
“Eaton is positioned through its global solutions to answer today’s most critical electrical power management challenges. To meet our goal, we will build new capabilities, expand manufacturing presence, launch new products and solutions for diverse markets and successfully implement focused customer engagement strategies,” Chalke said.
The company, which has so far expanded its presence through acquisitions, is planning a greenfield expansion at its facility in Pondicherry.
In India, the company manufactures products for power distribution and circuit protection, backup power protection, control and automation, lighting and security, structural solutions and wiring devices, solutions for harsh and hazardous environments, and engineering services.
“The government’s initiatives in increasing power generation, expanding transmission and distribution networks, reallocation of coal blocks, FDI in defence, etc, will give an impetus to private sector investment. We have the products to cater to the anticipated growth in demand. We will also consider acquisitions that will help us enhance our capabilities and will significantly invest in the expansion,” he added.
