India one of our 4 global hubs, 3rd largest market: Schneider Electric CEO Peter Herweck
India has emerged as the third most important market from a local sales perspective for French automation and software company Schneider Electric that is looking to capitalise on five mega trends that is shaping global companies, the most important of which is the growing demand for its energy saving systems, said its top executive. It will be investing Rs 3200 crore ( euro 350 million) in expanding industrial footprint with 5 new greenfield factories in energy management and both automation products.
“If you take the CO2 footprint that is generated today, 81 per cent of that is related to energy.
And there is concrete technology available today to omit 70% of the CO2 that’s generated from that 81%. We don't need to speak about fancy stuff that may come tomorrow.
I am talking about today and now where we have payback within three to five years,” said Peter Herweck, chief executive of the Paris incorporated company, who was earlier the head of its industrial automation division and then CEO of Aveva, the British software company it took over. Herweck was in India recently – his 2nd since he took charge, after his predecessor Jean-Pascal Tricoire stepped down last year after nearly 20 years at the helm.
Herweck, a German, who lived largely in Switzerland but now heads the Paris incorporated giant, rattles of more statistics to break down that 81% further to prove his point: 37% of energy in consumed inside buildings; 33 percent in industry, 23 percent in transportation and around 6 percent is rest.
He believes digitization, artificial intelligence has been a “super tailwind for the company.” Secondly, he said, the evolution of wealth is changing in the world especially in markets like India and that is aiding the
