Fuji Electric announces India 2.0 plan – In India for India+
- Derives synergic strengths through integration of all group companies in India
- Targets INR 1500 crores turnover in India by 2023
Chennai, India 7th
Nov 2019:
Fuji Electric Co., Ltd. (“FE”), a 915 billion Yen, energy and power electronics
global major headquartered in Tokyo, Japan; announced today its India 2.0 plan
to expand its business operations in India. The FE India 2.0 plan envisages the
revenues from the India market to reach 1,500 Crores by 2023 supporting the
global objective of Fuji Electric’s Reiwa Prosperity 2023 plan to grow global
revenues to 1 trillion Yen when FE celebrates its Centennial Anniversary (100
years of founding).
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(L to R) Mr. Sriram
Ramakrishnan, MD, Fuji Electric India and Fuji Electric Consul Neowatt; Mr.
Yosuke Ishizaka, General Manager, India & Middle East Business Strategies
Office, Fuji Electric; Mr Kenzo Sugai, Executive Vice President and Elected
Corporate Director Fuji Electric and Mr. Kenji Goto, Executive Officer, Fuji
Electric unveiling the India 2.0 plan of Fuji Electric in Chennai today
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Fuji
Electric is globally developing its core business of Power Electronics Systems
and India has been identified as one of the key markets as part of FE’s global
growth plan. FE will expand its power electronics systems business in India,
targeting mainly the manufacturing industries, core heavy industries,
buildings, infrastructure and data centre market. With the recent acquisition of Consul Neowatt
Power Solutions Pvt Ltd, Fuji Electric has a strong presence across India with
almost 1,000 employees, four manufacturing plants and a pan-India
sales network operating out of 25 offices with ability to provide support
services in over 80 locations through 400 factory trained service engineers.
Speaking
at the occasion Mr Kenzo Sugai, Executive Vice President and Elected
Corporate Director Fuji Electric said, “The FE India 2.0 Plan involves
integration of the FE business in India including Consul Neowatt, Fuji Electric
India and Fuji Gemco to ensure all Fuji
Electric customers in India have the same and consistent pre-sales & post
sales experience. The targeted markets in
India for FE products represent a market opportunity in excess of 10,000 Crores
and the FE India 2.0 plan envisages Fuji Electric becoming among the top
companies in all the targeted market segments in India to reach 1,500 crores
turnover by 2023.”
Fuji
Electric believes to succeed in the fast growing but highly competitive Indian
market will require us to be close to the customer and to tailor our solutions
to provide overall value for the customer and this is the foundation of FE India
2.0 Plan of “In India for India+” strategy. This means that the company will
use local R&D capabilities to develop products that are priced
competitively and designed to perform in demanding site and power conditions.
Further the company will look to expand its local manufacturing capabilities
for faster introduction of products in the market with establishment and
localisation of the entire process of production and supply in India—from
product development to material procurement, manufacturing, and quality
assurance—of AC Drives, UPSs and other components. This will also see India
becoming a hub for products that will also be sold in markets like Africa and
Middle East that have a similar challenging site and power conditions.
Fuji
Electric is also well set in India to address emerging applications coming up
like Energy Storage, EV Charging, MW scale solar power plants, Smart city with
cutting edge products, solutions and services with an overriding focus on
energy efficiency and environment conscious technology.
About Fuji Electric in India: Fuji Electric started direct operations in India in 2009 as
a sales company, in 2015 it opened a low-voltage AC Drives factory in 2015 in
Bhiwandi near Mumbai. That same year, FE also established an engineering company
(Fuji Gemco Private Limited) as a joint venture with a local company. In 2019
Fuji Electric acquired India’s fastest growing UPS company and one of the
largest three phase UPS company Consul Neowatt Power Solutions. Fuji Electric
in India today has four modern manufacturing facilities located in Chennai,
Pune, Faridabad and Bhiwandi that are IS0 9001: 2015, ISO 14001:2015 & ISO
45001: 2018 certified facilities. Fuji Electric has an installed base of over
400000 units in India and supports customers through 25 sales locations and with
one of the largest pan India service networks covering over 80 locations with
more than 400 factory trained service locations. The company today offers
customers a wide range of products including Three Phase UPS, Single Phase UPS,
Active Harmonic Filters, Solar Inverters, Servo Stabilizers, AC Low Voltage
Drives, AC Medium Voltage Drives, Servo Systems, HMI, Motion Control, Factory
and Process Automation, Instrumentation and Power Semiconductors to customers
in India, Middle East and Africa. To
know more: www.consulneowatt.comwww.fujielectric.co.inwww.fujigemco.com
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