India to become third or fourth-largest revenue head for Siemens in next three years

MUMBAI: The German engineering and technology major Siemens said its 157-year-old operations in India will become the third or fourth-largest revenue head for the group in the next three years, overtaking Germany and France.

Currently, India is the fifth largest revenue contributor for the group chipping in around 4 per cent of the group topline, but is the fastest growing.

Currently, the US leads its revenue front followed by China, Germany and France, placing India the fifth largest, Peter Koerte, the member of the managing board and chief technology officer & chief strategy officer at Siemens AG, told a select group of editors here on the sidelines of their ‘innovation day.

Sunil Mathur, the managing director and chief executive at Siemens India, chipped in saying, last year, operations in India contributed close to 4 per cent of the group’s global revenue of a little over $83 billion or Rs 17,701 crore.