The company, which has boosted its capabilities with a coordinated approach in India, is now looking at the country as a hub for several new sectors, including technology, artificial intelligence, energy storage, fast charging or eco-friendly solutions, according to Hitachi India managing director Bharat Kaushal.
Hitachi, which has a presence in the infrastructure, manufacturing and information technology sectors among others, now has a broader reach to play in the country through its global acquisitions such as the powergrid business of Swedish-Swiss company ABB and Italian transport company Ansaldo STS.
“We invested and found that our global capabilities translated into capabilities on the ground. And when we succeeded in India, it is also a license to take more of these companies out of India, which is a disruption of the 100-year history of Hitachi as we did business from abroad and brought our technologies to do business In India,” Kaushal told PTI.
He added that Hitachi now “envisions, whether in infrastructure and solutions, manufacturing or digital, to take solutions from India to other markets”, and contribute more not only to Hitachi’s economy but also to other regions of India.
After increasing investments in technology and research, Hitachi realized that “India must become a leader in some of the many new engines whether in technology, artificial intelligence, or hydrogen (and) the next engine for energy storage, energy, fast charging or even environmentally friendly solutions, which will be Eventually convert them into cash on balance sheets.”
Hitachi, which operates several joint ventures in India, has invested heavily and wants them to grow and serve global markets from here, making the country a major hub.
“We want to do more business from India to the world,” Kaushal said, adding that with so many joint ventures and other things to come, “we expect to grow the business smart enough….”
In India, Hitachi operates with 31 group companies and as of March 31, 2021, reported consolidated revenue of about 195 billion yen (about 13,127 crore).
“We will consolidate more this year. We have more than 30 companies in India and many companies that have been added, are companies that were part of the acquisition,” he said, adding various processes such as getting approval. The Fair Trade Regulatory Competition Commission and others are underway.
India, which has the oldest overseas presence of Hitachi, was converted into a region in 2012. Hitachi has five regions outside Japan, of which two are large emerging countries – India and China and the rest is divided into the United States, Europe and other countries. Asia.
He added that India is Hitachi’s newest region, and therefore the smallest, while others are much larger. Asked about the growth outlook from the Indian market, Kaushal said, “We have to be on par with other regions.”
He added that Hitachi’s business in India is broadly in the IT, manufacturing and infrastructure sectors and has a significant presence in India’s construction machinery business, railway sector and payment business.
While talking about the role of some of the companies acquired by Hitachi globally such as the powergrid business of ABB, Ansaldo STS, pentaho and GlobalLogic, Kaushal said that some of these companies play an important role in the Indian market.
Hitachi, which has a long history in India, helps the country with the turbines of the Bhakra Nangal Dam for the Indian Railways locomotive in the 1950s, is also engaged in water and smart city projects along with some other projects.
It employs around 18,000 people in the country as of March 21, 2021. Kaushal is the first Indian to be appointed as Managing Director of Hitachi India.