German conglomerate Siemens' automation division plans to increase its number of facilities in the country as it aims to double its revenue here to Rs 4,000 crore in the next three years.
"The automation division is a Rs 2,000 crore entity of Siemens India. We are targeting to double our revenue in the next three years," Siemens General Manager (Marketing, Automation Division) Satish Godbole told PTI on the sidelines of IMTMA summit on auto component industry here.
To achieve this target, the company is planning to raise its manufacturing facilities in the country, he added.
"We have a robust growth plan for India. Currently we have four facilities here and we will be adding few more facilities in the next three years," Godbole said.
He, however, declined to specify the number of units the company is planning to set up, but said "it will be less than double, while more than one".
"We are currently evaluating different locations across the country and talking to many state governments. Whosoever will give us the best tax incentives, we will go for those states," Godbole said.
On exports, he said about 5 per cent of Siemens' revenue came from overseas markets.
"We do not have any plan to increase our exports. The domestic market is very strong and there is an increase in demand from Indian manufacturers," Godbole said. When asked how much the company would be investing in setting up the manufacturing units, without divulging any detail, he said it would be "a substantial amount".