Honey­well Tech So­lu­tions to de­velop more prod­ucts for In­dia

Electronics Bazaar - - Industry News -

Honey­well Technology So­lu­tions’ fo­cus will be on an ‘In­dia for In­dia’ port­fo­lio to de­velop more prod­ucts for the do­mes­tic mar­ket.

“We are de­vel­op­ing prod­ucts that are smarter and con­nected. This gives us a huge op­por­tu­nity. We are in a lead­ing po­si­tion to be a re­ally big player,” said Ak­shay Bel­lare, VP, Honey­well Technology So­lu­tions, adding that 60 to 70 per cent of the com­pany’s 7,000 en­gi­neers in In­dia are in the soft­ware space.

Honey­well is look­ing to grow rapidly at 15-20 per cent in In­dia, rid­ing on the trans­for­ma­tion that its con­nected technology port­fo­lio is ex­pected to bring about across sec­tors. The multi­na­tional firm ex­pects busi­ness growth in In­dia to be higher than in the de­vel­oped mar­kets. Honey­well’s In­dia sales and ex­ports were worth more than US$ 1 bil­lion last year, grow­ing by 17-18 per cent. The com­pany cur­rently has six man­u­fac­tur­ing fa­cil­i­ties in In­dia.

Bel­lare said the com­pany would con­tinue to in­vest in man­u­fac­tur­ing to be a part of ‘Make in In­dia’. “The com­pany ex­pects to con­tinue grow­ing at a rate that’s two to two-and-a-half times In­dia’s GDP growth rate. In­dia is grow­ing at 7 per cent and our com­pany wants growth of at least 14 per cent, if not 21 per cent.”

With its global sales at US$ 40 bil­lion in 2017, Honey­well is bet­ting big on In­dia for a va­ri­ety of rea­sons, mainly the high GDP growth, the re­forms and the com­pany’s trans­for­ma­tion.

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