Mitsubishi Electric Corporation has established Mitsubishi Electric India Pvt. Ltd. to coordinate sales and accelerate its business expansion in the Indian market. The new company will incorporate the Gurgaon and Bangalore branches held by Mitsubishi Electric Asia Pte. Ltd. headquartered in Singapore, and will begin operation on November 30, 2010. It will initially be engaged mainly in sales, marketing, and after-service of air-conditioning, factory automation systems, and power device businesses.
Mitsubishi Electric aims to strengthen these operations in the Indian market, while supporting its social infrastructure-related businesses such as its power generation and distribution business. For the fiscal year ending March 31, 2016, Mitsubishi Electric is targeting an approximate threefold increase in consolidated net sales in the Indian market compared to its sales in the fiscal year ended March 31, 2010.
to Daily News