10 months ago
Global Corporations Detail India Expansion Plans
Many big companies from around the world are talking about their plans for India.
They see India as a very important place for growth because its economy is growing super fast.
Some companies are making more products there, like snack giant Mondelez, which is downsizing its packages instead of raising prices.
Other tech companies, like Cognizant, are thinking about listing their business in India.
Manufacturing companies are building new factories, like Modine in Chennai for data centers and Epiroc in Nashik for mining equipment.
Some companies, like Gates Industrial, even see India as a good alternative to China for future business.
They are all investing in India because of its growing population, new buildings, and advancements in technology like cloud and AI.
Global corporations are sharing their India expansion strategies during recent earnings calls.
Companies are citing India's rapid economic growth, infrastructure development, and consumer demand as key drivers.
Investments include new manufacturing facilities, data centers, and R&D hubs across India.
Several firms are considering or have initiated processes for local stock exchange listings.
India is increasingly viewed as a significant growth engine and a strategic alternative to other global markets.
- Who
- Several global corporations including Mondelez International, Cognizant, Veralto, Modine Manufacturing, Gates Industrial, Sify Technologies, Epiroc AB, AB SKF, and TotalEnergies.
- What
- Detailing their strategic plans for expansion and investment in India, including production facilities, listings, and competence centers.
- Where
- Across various locations in India, including Chennai and Nashik, and impacting the broader Asian market.
- When
- During recent quarterly earnings calls and reporting periods, with specific mention of a planned listing before year-end for SKF's Indian business.
- Why
- Driven by India's status as the fastest-growing large economy, strong consumer demand, rapid urbanization, infrastructure development, and its potential as a technological and manufacturing hub.
Key facts
- Mondelez International
- Downsizing packs in India led to better-than-expected performance with mid-single-digit growth.
- Cognizant Technology Solutions
- Exploring a potential primary offering and secondary listing in India.
- Veralto Corporation
- Strong double-digit growth in India driven by urbanization and infrastructure.
- Modine Manufacturing
- Launched new data center facility production in Chennai.
- Gates Industrial Corporation
- India emerging as a key growth engine and alternative to China.
- Epiroc AB
- Expanding manufacturing and R&D in Nashik to create a global hub.
- AB SKF
- Separated Indian business and preparing for listing before year-end.
- TotalEnergies
- Plans to establish a competence center to support digital and power businesses.
Quotes
Mondelez International Inc
US snack and confectionery giant
“In India, we decided not to increase prices significantly but to downsize packs, which has worked well. The market is performing better than expected, with mid-single-digit growth in Q3 and solid momentum year-to-date.”
thehindubusinessline.com
Cognizant Technology Solutions Corporation
US IT services firm
“We are assessing a potential primary offering and secondary listing in India, engaging with stakeholders in both countries. The process is complex and long term in nature, and while no decision has been made, we remain committed to acting in the best interest of our shareholders.”
thehindubusinessline.com
Veralto Corporation
US-based environmental solutions company
“Core sales in high-growth markets rose 4.3 per cent, led by strong double-digit growth in India. With rapid urbanisation and infrastructure development, India is becoming a key contributor, supported by strong execution in Water Quality and Product Quality & Innovation.”
thehindubusinessline.com
Modine Manufacturing Company
US thermal management solutions provider
“We successfully launched production at our new Chennai, India, facility, which will serve growing data centre demand across India, South-East Asia and the Middle East. The site enhances our ability to deliver locally manufactured products to key APAC customers.”
thehindubusinessline.com
Gates Industrial Corporation plc
UK-based power transmission and fluid power manufacturer
“East Asia and India posted about 5 per cent core growth, led by our Automotive Replacement and Industrial businesses. India’s economy is evolving rapidly, and we see it as a key growth engine and a real alternative to China over the midterm.”
thehindubusinessline.com
Sify Technologies Ltd
Digital infrastructure firm
“India’s digital transformation is reaching a decisive phase, with cloud adoption, AI integration and data centre expansion positioning the country as the next global hub for digital infrastructure and innovation.”
thehindubusinessline.com
Epiroc AB (publ)
Swedish mining and infrastructure equipment maker
“We’re investing in Nashik, India, to create a global production and R&D hub for both surface and underground equipment. The facility will include production halls, prototyping labs, and test tracks, reinforcing our commitment to the Make in India initiative.”
thehindubusinessline.com
AB SKF (publ)
Swedish bearings and industrial components maker
“We’re seeing very good activity levels in India, which is the largest contributor in our Asia region. We’ve completed the separation of our Indian business and are ready to list the new entity before year-end, a major milestone for SKF in the country.”
thehindubusinessline.com
TotalEnergies SE
French energy major
“India offers access to high technical competencies at reasonable cost, making it ideal for growing our digital and electricity capabilities. We’re seriously considering expanding our presence with a competence centre as part of our efficiency and cash-saving initiatives.”
thehindubusinessline.com
Sources
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