Mumbai: The Indian arm of Eaton Corporation, a $22 billion global power management company, has plans to completely localise manufacturing in India as government prepares to make India the manufacturing hub for defence products and technologies.
Nitin Chalke, managing director of Eaton India told Financial Chronicle localisation has been Eaton's key strategy to grow globally. "Earlier we were importing lots of raw material for our products but after the increase in capacity we are now focusing on completely localising production -- even the testing and sourcing is now being done in India. We believe it would act as a lever for growth as well as employment generation, and would be in sync with the new government's focus on making India a manufacturing hub," said Chalke.
Eaton, operating in the field of aviation, automotive, electricals, and hydraulics has a target of $550 million or Rs 3,300 crore from the Indian operations for calendar year 2015. It also plans greenfield expansion at the Puducherry plant and brownfield expansion at the Chennai plant, which were earlier part of Cooper Industries, later acquired by Eaton, in a $13 billion deal in 2012.
29/06/14 Vikas Srivastav/Mydigitalfc
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Nitin Chalke, managing director of Eaton India told Financial Chronicle localisation has been Eaton's key strategy to grow globally. "Earlier we were importing lots of raw material for our products but after the increase in capacity we are now focusing on completely localising production -- even the testing and sourcing is now being done in India. We believe it would act as a lever for growth as well as employment generation, and would be in sync with the new government's focus on making India a manufacturing hub," said Chalke.
Eaton, operating in the field of aviation, automotive, electricals, and hydraulics has a target of $550 million or Rs 3,300 crore from the Indian operations for calendar year 2015. It also plans greenfield expansion at the Puducherry plant and brownfield expansion at the Chennai plant, which were earlier part of Cooper Industries, later acquired by Eaton, in a $13 billion deal in 2012.
29/06/14 Vikas Srivastav/Mydigitalfc
