Tokyo-headquartered power electronics major Fuji Electric has announced its India 2.0 plan to expand its business operations in the country.
The company has acquired Consul Neowatt Power Solutions, which has over 1000 employees, as part of its expansion plan.
"India 2.0 is the second generation plan for our company. The first generation was creating Consul Neowatt, Fuji Electric India, and Fuji Gemco and doing business in India," said Kenzo Sugai, the Executive Vice President and Elected Corporate Director of the company.
"From now on, we are focusing on integrating energy and automation with the goal of expanding business in India. India has the highest growth rate in the world, and has an excellent workforce," he added.
With the combination of Consul Neowatt's customer base and infrastructure already in place, Fuji Electric's high product quality will be a driver in a fast-growing highly competitive Indian market.
The company plans to utilise the unique partnership between research and development teams in India and Japan.
"We have some Japanese engineers visiting India. We have some Indian engineers who will be going to Japan and we expect that we will be focusing on the power back up, where we want to develop a global platform for Fuji Electric," said Sriram Ramakrishnan, the Managing Director of Fuji Electric India Private Ltd.
"We are looking at work on solar inverters, solar pump controllers, which are unique requirements in India, where we can leverage Fuji Electric technology along with India R & D team to provide the solution for energy saving and to effectively use renewable energy in India," he added.
The collaboration between the two will help accelerate the growth of Fuji Electric's system business in India. The new growth will enhance the development of cutting edge technology in creating a sustainable smart city.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)