German conglomerate Siemens NSE 1.89 % AG is finalising its strategic plan for the next five years for India and its investments in the country are likely to be “more ambitious” than before, global chief executive Roland Busch said.
Siemens has invested close to Euro 1 billion in the past five years in India. The investments included its biggest ever acquisition in the country a Rs 2,100 crore deal for electrical and equipment maker C&S Electric – earlier this year.
Siemens has hiked its growth forecast for FY21 ended September to 11-12%, on a sharp recovery after the disruption caused by Covid. It expects growth to be around 5-7% in fiscal 2022.
Siemens reviewed its performance across businesses in different countries in January-February to assess growth rate over next five years. While the US and China seem to lead, India had potential to be a growth driver.
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