Siemens focusing on digitization and innovation for services to customers
Amid a slowdown in large orders from both the public and private sectors, Siemens is focusing on digitalisation and innovation to provide end-to-end solutions for its customers across business verticals. The company is also putting a thrust on the localisation of the portfolio and is moving from electrification to automation to digitalisation.
"There has been a slowdown in large orders from both the private and public sectors. But sub-large orders are being tendered and their volumes are high, but in terms of ticket size they are still at the lower end," Siemens India managing director and CEO Sunil Mathur told reporters here on Monday.
He said there is a lot of activity in sectors like the pharma, power transmission and distribution, automotive, food and beverages, among others where customers are looking for solutions to enhance efficiency. "Demand for power for captive use is increasing especially in the cement and fertiliser industries. Also, there are 30-40 GW of capacities that are reaching the end of their life cycles which need to be replaced.
The need of the hour is to get super critical technology to make these plants more efficient if the economy is to reach 7-8 per cent," Mathur said.
Also, in the T&D segment, investments are taking place and this business for the company is growing in double digits. "We are growing at 10-13 per cent CAGR mainly on the back of these small businesses," he added.
(With inputs from agencies.)