India is on track to become one of the top revenue contributors for Siemens within the next three years. With a current contribution of around 4% to Siemens’ global revenue, India is expected to overtake Germany and France to become the third or fourth-largest revenue source for the company.
Siemens’ workforce in India consists of 32,000 employees, with 10,000 dedicated to software divisions in Pune and Bengaluru. The company allocates a significant portion of its revenue to research and development, totaling about $2 billion per year.
Despite some challenges in its smart cities projects, Siemens remains committed to innovation and infrastructure development in India. The company plans to spin off its energy business into a separate entity, Siemens Energy India, by February 2024.
With a focus on emerging technologies like the industrial metaverse and the Siemens Xcelerator platform, Siemens aims to boost efficiency and productivity across various industries. The company’s continued investment in India signifies its strong belief in the country’s potential as a key player in its global operations.
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