Investments of EUR 250 million have been made in India since early 2010, mainly for the construction of six new factories and the manufacture of basic products. Siemens AG increased its stake in its subsidiary Siemens Ltd. from 55 percent to 75 percent, buying back stock in an open offer worth EUR 1 billion.
In fiscal 2011 (October 1, 2010 – September 30, 2011), Siemens’ sales to customers in India amounted to EUR 2.35 billion and new orders totaled EUR 3.31 billion. Siemens currently has about 17,700 employees in India.
The history of Siemens in India dates back to 1867, when Werner von Siemens personally supervised the laying of the first telegraph line between London and Calcutta. The first company office was founded in 1922, and its first assembly plant began operations in 1956. In 1957, Siemens was incorporated as a company under the Indian Companies Act. Today, the company has a sales and service network that spans the country, 20 manufacturing plants, eight centers of competence and ten R&D centers.
Investments of EUR 250 million have been made in India since early 2010, mainly for the construction of six new factories and the manufacture of basic products. Siemens Financial Services Pvt. Ltd. received the license to operate as a non-banking financial company (NBFC) from the Reserve Bank of India.
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