The Taiwanese electronics manufacturing company remains optimistic about the future growth in India
Delta Electronics, a global leader in power and energy management solutions, aims to expand its R&D workforce to 1,000 employees in the next 3-5 years, with plans to double it in the subsequent years. Currently, the company operates two R&D centers in Gurgaon and Bangalore.
While globally, Delta Electronics invests approximately 8 per cent of its annual revenues in R&D, in India, this figure stands at around 6.5 per cent of its annual turnover.
Despite having a strong foothold in the telecom sector in India, the company is shifting its focus to the growing EV market in the country. Recognizing the potential of the EV infrastructure and initiatives like FAME and PLI, Benjamin Lin, President of Delta Electronics India, expressed optimism about the expansion plans in India.
While Delta Electronics has a robust presence in Western markets, it remains optimistic about further growth in India. However, the company highlighted that the current PLI scheme in the country has a limited focus, primarily on individual components, and suggests a shift towards a more concrete approach covering the broader supply chain.
Globally, Delta Electronics achieved a revenue of US$13 billion in CY23, and it continues to witness growth both in the domestic and international stage. "Currently, we are in the process of fulfilling a substantial investment of 500 million USD in India, with a targeted completion before the end of 2027, " said Lin.