Energy management firm Schneider Electric has big plans to expand into the Indian market in the coming years. For the France-based company, India has become one of the most important markets as the company expands its manufacturing base in the country.
Deepak Sharma, Zone President – Greater India and MD & CEO of Schneider Electric India, talked about the plans of the company in an exclusive interview with Outlook Business. He launched the Schneider Electric Innovation Yatra to mark the 60th anniversary of company’s operations in India. The carbon neutral yatra will cover over 60 cities to showcase company’s journey in the country and advancements in technology.
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Sharma talked about company’s capex plans, focus on renewables and the bet on Indian market in the coming years.
Edited Excerpts
What capex is the company planning to fuel expansion in the country in the next few years?
We have already announced plans for investing Rs 3,200 crore in the next three years. We are investing in expanding our manufacturing capabilities to meet the demand of both the domestic and international markets. Our company is adding 1.2 million square feet to our existing set-up, which will fuel our expansion.
How important do you think Indian market is going to be for Schneider Electric from a global business perspective?
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India is already among the top three markets for Schneider. In terms of workforce, India is the number one among all the markets we are operating in. India at the moment is behind US and China in terms of business for the group but we are hoping that India can soon reach second spot. It is important to note that India is already the backbone of the company in certain technologies.
Schneider Electric has a front seat to India Inc’s transition to renewables. How do you think it’s progressing?
What I see is hope, need and awareness regarding the issue so I am optimistic in this regard. If all the stakeholders contribute and take the need for transition seriously then I think carbon neutrality can be achieved. From a technical point of view, I see that the technologies to solve the problems exist.
Schneider has a presence across several segments. Which sectors do you think are poised to be the focus for the company in the coming years?
Energy efficiency challenge is not for one but for everyone. From a growth point of view, a few sectors are well placed, with the energy segment being one of them. However, for us, it’s not just about growing but balancing consumption with responsibility. We are not specifically linking a segment for growth.
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