Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Philips May Use India as Sourcing Hub
Sep 4, 2003
 Printable format
 Email this Article
 Search

Royal Dutch Philips said it was exploring the possibility of using India as a sourcing base for exports and is considering investing about U.S. $150 million in the project.

Gerard Kleisterlee, Philips' global president and CEO, said, "The company had invested close to $150 million in India over the last 5 years, and we would like to see an investment of a similar magnitude in the coming years".

Mr. Kleisterlee is currently with Royal Philips' directors on a week-long visit to India to conduct a comprehensive review of operations and to firm up future growth strategy.

Stating that the company was eyeing a growth of 25 percent in current year from Asia, he said India would be positioned as the competence center for emerging markets.

"The market conditions are attractive. India is a fast emerging economy with low product penetration. The country is gaining recognition for its increasing pool of local knowledge and talent," he said.

The Dutch parent has already amalgamated businesses including Consumer Electronics, Lighting, Domestic Appliances, and Semiconductors under Philips India and increased its stake to more than 93 percent. (Asia Pulse, PTI)

Back to Daily News

 

Daily News

...........................................................

Nov 26, 2014: Hamilton Beach 3Q income down slightly

Nov 26, 2014: LG's sales of Inverter Linear Compressor refrigerators top 10 million

Nov 25, 2014: Robotics Exhibits Grow 25% at 2015 CES

Nov 25, 2014: Index shows HVAC/R contractors more positive than last year

Nov 25, 2014: Consumer Confidence Index Declines

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

November 2014: U.S. Appliance Industry: Market Value, Life Expectancy & Replacement Picture 2014
October 2014: Portrait of the European Appliance Industry
September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows