• Sunday, April 21, 2024

Business

Schneider Electric to make India its manufacturing hub

The energy management major will invest Rs 32 billion by 2026 to make India its manufacturing hub for domestic sales as well as exports

Picture for representation (iStock)

By: Shajil Kumar

Energy management and automation major Schneider Electric plans to invest Rs 32 billion (£304 million) by 2026 to make India its manufacturing hub for domestic sales and exports.

Under the plan, Schneider Electric on Thursday (21) inaugurated a facility in Bengaluru with Rs 1 billion (£9.5 million) investment to produce cooling solutions for data centres.

This is Schneider’s second chiller solutions factory across the world. It had set up the first such facility in Italy.

On the sidelines of the event, Schneider Electric India President-Greater India Zone and MD & CEO Deepak Sharma said the company would set up manufacturing facilities in Maharashtra, Karnataka, Gujarat, Telangana, Tamil Nadu, West Bengal, Uttarakhand and Odisha states for its various products and solutions.

The France-based company currently has 30 factories across India.

The new factory will focus on developing innovative cooling solutions suitable for data centres, telecom, commercial, and industrial applications, both in domestic and international markets.

The factory is fully-owned by Schenider and as much as 85 per cent of the products manufactured here will be exported.

(PTI)

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