India’s merchandise exports jump by 17.25% in Oct
The trade deficit was widened to USD 27.14 billion. Imports increased by 3.9% to USD 66.34 billion in October compared to USD 63.86 billion in the year-ago period.
Hitachi Energy Limited is planning to invest Rs 2,000 crore in India in four to five years, a senior company official said here on Monday.
According to MD and CEO of Hitachi Energy India N Venu, the company that manufactures high-voltage equipment, and transformers, and also deals in services for renewable energy, plans to expand its capacity in the country and will be investing in increasing its workforce, expanding the capacity of transformers, step up its talent base and towards increasing its portfolio, he added.
The Key highlights of the investments include a significant capacity expansion of the large power transformers, upgraded testing capabilities for specialty transformers, and all crucial things to further develop the country’s transmission projects to meet increasing energy demands.
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According to the senior official of the company, the investment will also be made in building the capacity of insulation and components, also focused on offering solutions to sectors such as utilities, industries, and transportation.
Throwing more light on the investment, the high-voltage equipment manufacturing company said it plans to put in Rs 400 crore on a yearly basis in the next five years and is also looking forward to fundraising options.
The company’s focus will also be on ways to make power transmission greener in the country.
Hitachi India has been contributing to various nation-building projects in the country for the last 75 years, and the technology leader has played a significant role in the nation’s energy transition since 1949, an official statement added.
The company is hosting a two-day experiential technology symposium, ‘Energy & Digital World 75 (EDW75), on Monday and Tuesday, which was inaugurated by India’s G- 20 Sherpa Amitabh Kant, Andreas Schierenbeck, Global CEO, Hitachi Energy, and N Venu.
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