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Siemens Upbeat on India’s Growing Economy: Diversifying from China and Boosting Renewable Energy Investments

BySamantha Johnson

Mar 6, 2024
Siemens optimistic about India’s growth as economy flourishes, executive claims

Siemens is optimistic about its future in India, as stated by managing board member Matthias Rebellius. He highlighted India’s booming economy as an opportunity to diversify away from China and make it a priority for future investments. The Indian subsidiary, Siemens Ltd, experienced an 18% increase in sales last year and recently increased its stake in the unit to 69%.

India presents opportunities in various sectors such as electric grid upgrades, renewable energy investments, transportation, and components for solar projects. As Chinese growth slows, some customers are shifting investments from China to India due to geopolitical tensions. While India may not replace China as Siemens’ third-largest market, it will be the focus of more investments, according to Rebellius.

Globally, Siemens’ Smart Infrastructure business is returning to normal ordering patterns post-COVID pandemic. Additionally, Siemens recently launched a sustainability label called “Siemens EcoTech” to provide customers with information on materials, production, design, and lifecycle of products. This label includes products like a new electronic circuit protection device and aims to increase sales and maintain price stability while emphasizing sustainable practices.

Overall, Siemens remains positive about its prospects in India and Asia by investing in growth markets and sustainable practices to drive future success.

By Samantha Johnson

As a content writer at newszkz.com, I delve into the realms of storytelling, blending words to paint vivid narratives that captivate and inform our readers. With a keen eye for detail and a passion for research, I craft compelling articles that resonate with our audience. My love for words drives me to explore diverse topics, ensuring that each piece I create not only educates but also entertains. Join me on this journey as we navigate the ever-evolving landscapes of news and knowledge together.

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