Siemens to ramp up operations, create jobs

Siemens to ramp up operations, create jobsIn line with businesses gearing themselves up for the recovery, German industrial conglomerate, Siemens AG is ramping up its operations in India.

The company would in turn be generating no less than 8,000 jobs by 2012. This would make close to 25,000 people working in India. Most of the operations would be aimed to tap into the green energy market by manufacturing a slew of products which would be sold both in the domestic as well as in the global markets.

The total investment to the tune of Rs. 16 billion would be happening. "Our mission is to really make sure that we take advantage of the infrastructure development needs that exist in this country. We are taking advantage of this opportunity by adding specific products tailored to India," said Siemens AG President and Chief Executive, Peter Loscher.

Siemens is planning to set up six manufacturing hubs across India where value priced products would be designed, developed and sold. It expects to generate close to Rs. 65 billion through this venture by 2020. Siemens is also looking forward to invest Rs. 5 billion in construction of wind power equipment.