MD said Hitachi India is eyeing a dominant position in the group's rail, energy and digital, automotive businesses
Aiming to secure a dominant position in various sectors, Hitachi India, part of Japanese conglomerate Hitachi, aims to contribute $20 billion to the parent company's overall consolidated revenue by 2030.
Company's Managing Director Bharat Kaushal confirmed that they will achieve the target with 'high double digit profit'. The MD said Hitachi India is eyeing positioning" in the group's rail, energy and digital, automotive businesses.
In the financial year 2021, Hitachi India's consolidated financial revenue was ₹17,204 crore.
“Some of the horizontal enablers supporting integrating technologies using digital as a catalyst, including artificial intelligence (AI), hydrogen, and energy storage, will become a significant growth driver. We aim to achieve high double-digit growth for the overall Hitachi consolidated There is a profit of Rs.200 crore revenue,” Kaushal told news agency PTI.
Appreciating the government's steps on technology and IPR, Kaushal said the country is emerging as a base for doing business outside India, especially in capital goods.
Talking about the revenue, he said, "We expect Hitachi to contribute $20 billion to the economy."
"Hitachi's innovative and globally acclaimed technology is driving India's transformation. Hitachi's new medium-term management plan 2024 aims to support people's quality of life with data and technology that fosters a sustainable society ,” said the company's top executive.
Kaushal affirmed that the company is playing a key role in India's journey towards becoming a carbon-neutral country.
"Increasingly, the importance of India at Hitachi is becoming increasingly focused," he said, "which is coinciding with Japan and India trying to make more of a winner out of their economic engagement story."
The company executive said that it is expanding the canvas of business efficiency in the country and solutions for India are not only about scale but also about affordability.
“Our core areas as part of our forward-looking mid-term management plan 2024 will have a direct correlation to the future investments we make to focus on offering solutions including green technology, digital technology and innovation,” said Kaushal.
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