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Siemens to invest $500 m
MUMBAI,
FEB. 9.
Global handset major Siemens India is planning to invest over $500 million in India in the next three to four years for setting up new factories and expanding its existing capacities in the country.
"Primarily the investments will be made by Siemens India as it is in financially good shape. But if necessary, Siemens AG will also chip in with new investment plans," Siemens AG Chairman of the Supervisory Board, Heinrich V. Pierer, told reporters here today.
Siemens would be setting up more research and development centres and it would be adding more software professional in R&D centre in Bangalore, Mr. Pierer said. "India is not only a good place for local manufacturing but also export base," he said while speaking on the sidelines of a "Nasscom 2005 India Leadership Forum." — PTI
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