Siemens To Invest One Billion Euros In India – Make In India’s Biggest Investment From an European Co.!

By Mohul Ghosh Last updated Sep 9, 2015

After China, Taiwan, South Korea and Japan, it is Europe’s turn to get galvanized by Make in India vision. Germany based Siemens AG, which is the largest engineering company in Europe having net worth of €104.879 billion, has announced that they will invest €1 billion in India, which is almost Rs 7400 crore based on current exchange rates.

This marks the biggest investment from a European business conglomerate under Make in India vision. As per reports, Siemens may shift some of the engineering manufacturing projects from other International locations to India.

Joe Kaeser, who is the CEO and Chairman of Siemens is right now in India, along with his entire team of board members. The details about this fresh infusion of €1 billion were shared by Joe while interacting with media personals. They have met PM Modi and shared their inputs on making this campaign even stronger and bigger.

Siemens have already invested close to €2 billion in India, during the last 10 years. Their fresh investment of €1 billion will help them to create 4000 new direct and indirect jobs in the country. Siemens currently employees 3,62,000 employees globally, out of which 16,000 are in India.

One of the suggestions which Joe and his team came up with was regarding the slogan: as per them, instead of using Make in India, it should be Make it happen in India, so that besides Manufacturing, this vision can also encompass other streams such as societal development,education, training, automation, engineering and more.

Considering that Siemens provides a wide coverage of industry automation services, there are chances that they may acquire some Indian companies to leverage the programming skills from India. Joe gave a hint, as he said, “We already have more than 4,000 engineers; more than 75% are software. The ideal thing is that you partner up, team up. We do not rule out M&A, depends. Bringing skills together of software and …. Can be a very rewarding way to grow business. We’ll see how it goes..”

Indian Railways Project In Radar

Indian Railways is right now checking the bids for their largest outsourcing contracts in recent times: Rs 42,000 crore worth locomotive manufacturing factories in Bihar. Siemens and France based Alstom, both are fighting to get this massive project; and Siemens’ recent announcements can be linked with this fight. As per reports, Alstom’s is the lowest bidder as of now.

As of now, the three biggest investments under Make in India are:

$20 billion by Soft Bank, Foxconn and Bharti for developing solar power
$5 billion by Foxconn in Maharashtra
$1 billion each by Ford, Samsung and Phicomm

Siemens’ commitment of €1 billion investment makes them ranked #3 overall, and #1 from Europe in terms of Make in India investments.

All major Make in India investments Announcements till date