Siemens to invest one billion euro in support of ‘Make in India’

  • Inspired from Prime Minister Narendra Modi’s ‘Make in India’ slolgan Germany’s trains-to-turbines conglomerate Siemens AG came forward to invest 1 billion euro in India and will add 4,000 jobs to its existing workforce of 16,000 in the country.
  • Chief Executive Joe Kaeser said that the government should expand the slogan to “make it happen in India” and go beyond manufacturing and include societal development, training, automation, etc.
  • He said the company is planning to shift some international functions to India
  • The company plans to blend India’s software ability with Siemens’ engineering skills in its business in India.
  • Siemens recently bagged an order worth euro 8 billion in Egypt for setting up 14 gigawatts of power generation capacity, which is three-and-a-half times the size of one ultra-mega power project in India.

Source: ET

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