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By 2030, Hitachi India Targets To Add $20 Billion To Its Parent Company's Global Sales

By 2030, Hitachi India Targets To Add $20 Billion To Its Parent Company's Global Sales
According to Managing Director Bharat Kaushal, Hitachi India, a subsidiary of the Japanese conglomerate Hitachi, aims to contribute USD 20 billion in total consolidated global revenue to the parent company by 2030 with a "higher double-digit profit."
According to him, Hitachi India wants to have a "influential position" in the group's rail, energy, digital, and automotive businesses by 2030.
"Some of the horizontal enablers that support integrating technologies using digital as the catalyst including Artificial Intelligence (AI), hydrogen, and energy storage, will become an important growth driver. We aim to have a higher double-digit profit to the overall Hitachi's consolidated revenues," Kaushal told PTI.
India is becoming more and more popular as a base for conducting business outside of the country, particularly in the area of capital goods, where the government has introduced numerous incentives for technology transfer, funded it, and allowed companies to retain IPR.
Kaushal responded, "We expect to contribute to Hitachi's economy by USD 20 billion," when asked about Hitachi India's revenue.
According to him, India will work to contribute the aforementioned sum to Hitachi's overall global revenue.
"Hitachi's innovative and globally acclaimed technology has been fuelling the transformation of India. Hitachi's new Mid-term Management Plan 2024 aims to support people's quality of life with data and technology that fosters a sustainable society," he said.
India's progress toward becoming a carbon-neutral nation has been accelerated in large part thanks to Hitachi.
"Growing globally by digital, green, and innovation, Hitachi India will continue creating milestones across the globe. Hitachi operates in the infra, manufacturing and IT sectors among others.
India was changed into a region in 2012. Outside of Japan, Hitachi has five regions, two of which are the sizable emerging nations of India and China. The remaining three regions are the US, Europe, and Asia.
India is currently smaller than Hitachi's other regions, but Kaushal anticipates growth.
"Increasingly, the focus on India's importance in Hitachi is gathering momentum very significantly," he said adding, "it is coinciding with Japan and India trying to make more winners out of their economic engagement story."
The India solutions focus on affordability as well as scale. The business is broadening its range of commercial competencies in the nation.
"Investments and acquisitions are ongoing progressive business plans for Hitachi to strengthen further its position in the ecosystem of Social Innovation Business," he said adding: "Our core areas as part of our forward-looking Mid-Term Management Plan 2024 will have a direct correlation to the future investments we carry out focusing on offering solutions including Green Technology, Digital Technology and Innovation."
Hitachi did not disclose the precise amount of investment made in India, but according to Kaushal, it has experienced "phenomenal growth progression" over the past few years.
"This is primarily due to the significant investments we have made at the global level that includes the acquisition of the power grids business of ABB (Now Hitachi Energy), GlobalLogic, Hitachi Astemo etc. the investment within Hitachi is a globally driven process and we as Regional Headquarter become an integral part of this heightened ecosystem," he said.
Consolidated financial revenue for Hitachi India in FY21 was approximately Rs 17,204 crore (around 274 billion yen).

Christopher J. Mitchell

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