Fuji Electric keen to expand presence in India with a larger factory
Industrial Automation solutions provider, Fuji Electric is looking to expand its presence in India and is doubling down on its investments in the country in a bid to diversify its supply chain operations from China.
«As we have the three-year plan, we need to look for a bigger factory, and Tamil Nadu would be our first preference to do the investment,» Yosuke Ishizaka, Managing Director, Fuji Electric India told ET in an exclusive interaction.
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Offering CollegeCourseWebsiteNorthwestern UniversityKellogg Post Graduate Certificate in Product ManagementVisitIIM LucknowIIML Executive Programme in FinTech, Banking & Applied Risk ManagementVisitIndian School of BusinessISB Digital TransformationVisitIshizaka said that only six months ago, Fuji Electric made a Rs 150 crore investment in their new factory in Chennai. He added that their parent company in Japan is keen on the Indian market and expects to invest up to $200 million by next year.
“Four years back we acquired a new company Consul Neowatt Power Solutions," Ishizaka said. «Our sales were about Rs 500 crores, now it is nearly Rs 1000 crores. In the past three years, we achieved double the sales and the management expects the same for the next three years. We are planning to be a Rs 1500 company by the end of Financial Year 2024.»
In the next two years, Fuji Electric is also planning to hire local talent and recruit manpower to reach their full potential in the Chennai plant. Currently, Fuji Electric’s Chennai plant has over 500 employees and an R&D center.
The company is also looking to export the products manufactured in India to the APAC region and export casting parts to Europe and other countries.
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