Despite recent figures, the company maintains that, “potential has always existed in India and right policies will unbind it.”
ABB has committed to maintaining its $100 million a year investment despite recent reports that highlight an overall decline in the Indian electronics manufacturing market.
The multinational corporation that operates in robotics and mainly in the power and automation technology areas, has said it is waiting for the turnaround in the Indian market and consequently will keep its $100 million a year investment in India going.
According to Indian Electrical and Electronics Manufacturers’ Association (IEEMA), the equipment market contracted 10.5 per cent in the third quarter of last year, ending in December 2012, in a direct comparison to the corresponding period the previous year.
Despite this tough patch, Bazmi Husain, country manager and managing director of ABB India is vocal in his unwavering belief that the Indian market will recover and go on to thrive.
Speaking in a recent interview, Husain emphasised that the company has a long term plan for India, stating, “We are looking at the next stage of growth in India when the market turns around. The potential has always existed in India and the right policies will unbind it. We are using this difficult period to improve and expand our factories, increase our range of products, automate our lines and building new factories.”
