Philips' top brass to congregate in India in March

70 of company's top officials to feel the pulse of India

Philips, the $29-billion electronics conglomerate, is engaging India with fresh vigour. After toting up a topline of close to Rs 3,500 crore, this transnational wants to explore India in-depth and understand emerging markets in their totality.

As part of this objective, close to 70 of Philips' top brass from global locations will be meeting in India for the first time as part of its Innovation Summit and thrash out strategies on how effectively they can leverage high growth economies such as India and China.

Gerard Kleisterlee, president and CEO, Philips, will be in India during early March 2006, just months after his visit last November, which gives an indication how critical the forthcoming meeting and its location is.

According to senior officials at Philips, this will be a landmark meet for their global heads during which they will travel to various markets in India to get a first-hand understanding.

Kleisterlee, during his recent visit, said they expected to hit a topline of Rs 5,000 crore by 2008 out of India and also increase the scope of research and software development work done out of India.

Philips has a significant software captive centre in Bangalore employing close to 1,500 professionals and is mid-way through a Euro 50 million expansion. The company for its appliances operations employ close to 3,100 employees and operates seven factories across the country.