Schneider Electric plans to quadruple its sales in the fast-growing India market over the next three years, according to a report from ELECRAMA 2010 on the website Tech Whack, a technology website based in India. Schneider Electric introduced five new product lines for the Indian market from its power, energy efficiency, ISC (installation systems and control) and industrial units.
"India is part of the select group of 5 most important countries of Schneider Electric," Olivier Blum, managing director, Schneider Electric India, is quoted as saying. "And, the range of products, solutions and services launched today suggests our growing thrust on research and development. Globally, an investment of nearly five per cent out of the global turnover is made in R&D, out of which a significant part will be spent in India. We intend to increase our market share in India by quadrupling our sales turnover by 2013."