Siemens in $500m investment plan

Siemens India, an industry and infrastructure solutions provider, plans to invest $500 million in India in the next three to four years for setting up factories and expanding its existing capacities in the country.

Talking to the media here today, Siemens AG chairman of the supervisory board Heinrich V Pierer said Siemens said the investments will be made primarily through Siemens India.

Siemens AG, if required, will put in funds Siemens will set up more research and development (R&D) centres and it would be adding more software professional in the R&D centre in Bangalore, he said, adding that India is not only a good place for local manufacturing but also an export base.

"Siemens is keen on tapping the pool of engineers available in India," he added. The company is planning export software solutions, hardware and medium-sized switch gear from India. Siemens India expects a 10 per cent growth from India

Pierer, who came to the city to attend the Nasscom 2005 India Leadership forum said Siemens has 45,000 researchers who work outside of Germany. Over 3,000 software engineers and scientist work out of the company's facility in Bangalore. The company plans on expanding this number to 4,000 this year.

The employees in India focus on telecom software hospital information systems, call center solutions and automotive electronics.

He says "India's contributions here are really impressive and we will keep expanding the use of our Indian operations for worldwide projects. More and more projects in the medical, telecom, automation and automotive field will be handled here."

He explained that to spearhead more such R&D work, the company's technology department which is the core of Siemens R&D activities had recently set up a research center in Bangalore. This is expected to serve as the hub for many key activities in the Asia region.

India is not only good place for local manufacturing but also export base. Siemens will be adding 70 more professionals in its Bangalore R&D center and is keen on tapping the pool of engineers available in India, he added.

The company also plans to export software solutions, hardware and medium-sized switch gear from India, even as it is expecting a 10 per cent growth from India.