The ascendency of India as an economic world power

For big multinational companies, India is now the place to be. They can get skilled workers who are happy to work for a fraction of a money that the workers in Europe and America demand. ABB is a very big multinational company indeed as it has more than 111,000 employees worldwide. It is also operating in India and ABB India is going to witness a healthy expansion in the next two years.

ABB India wrote:

Business volumes in India expected to double by 2010

Additional 100 Million USD investment announced

Employee strength expected to touch 10000 by 2010

“India is among the fastest growing economies in the world today and a key focus area for ABB. It is an important part of our growth strategy and will play an integral role in strengthening ABB’s global footprint”, said Hubertus von Grünberg, Chairman ABB Group. “We presently employ over 6000 people in India and expect our human resource base to touch around 10000 by 2010 to support our growth plans” he added.

“We are extremely encouraged with the performance of our Indian operations and India will soon be among the top five markets for ABB. Based on market outlook and our well established presence here, we expect the business volumes for ABB in India to double by 2010. Having completed our previously announced investment programme of 100 MUSD, we now plan to invest an additional $100 million for capacity and range expansion over the next 2-3 years, to support this growth” said Fred Kindle, President & CEO ABB Group. “In addition to serving the needs of the Indian market , we are also determined to leverage India as a key resource base. Besides its pivotal role in the South Asia Pacific region, India is increasingly contributing to ABB’s global operations,” he added

ABB is not the only company that is going to expand its operation in India. There are many companies and if you browse through the achieve of this blog then you will find news about some of them. 

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