Emerson, the $21-billion, US-based technology and manufacturing multinational, is targeting to double its turnover in India to $1 billion (over Rs 4,500 crore) by 2012.
Growth drivers for its Indian operations - which posted over $500 million (about Rs 2,500 crore) revenue last year - will be mainly from sectors such as automation and power solutions, energy efficiency, telecommunications and data network infrastructure, said David N Farr, chairman, chief executive officer and president of Emerson, in an interview with Business Standard.
Emerson invested over $200 million (above Rs 900 crore) in India over the past three to four years, including the acquisition of Bangalore-based generator manufacturer Trident Powercraft early last year. The company plans to continue investments worth an average $10-15 million (Rs 45-70 crore) every year in the coming years in India, he said.
“About 95 per cent of our products manufactured here are consumed locally and this is part of our global strategy of localising production for respective geographies,” said Farr, with Emerson since 1981 and president for four years of its Asia-Pacific operations.