India is a hugely exciting market for us: Socomec | ELECRAMA 2023
Socomec, a leading global specialist in low voltage (LV) power management solutions, considers India as a very exciting and significant strategic market. “India will be the driving force for us,” said O’Niel Dissanayake, APAC CEO, Socomec Asia Pacific while talking to Subhajit Roy of mojo4industry on the sidelines of ELECRAMA 2023.
Commenting on the growth roadmap in Indian market, O’Niel said, “The year 2022 had been the most rewarding year in India for us in terms of achieving growth, profitability as well as from bringing our industrialization roadmap. Today Asia Pacific is in a growth momentum and we have a strategy for the next 4 years to rebalance our industrial footprint. So, our goal is to, by 2025, manufacturing activities from India and rest of Asia should contribute to atleast 50% of Asia Pacific revenues.”
Meenu Singhal has recently been appointed as the Regional Managing Director of Socomec India. Present at ELECRAMA 2023, he said, “We have a commitment from the Group for investing into the country that will help us to become more and more prominent in the market.”
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