Siemens’ Peter Koerte: India Poised for Major Growth
Siemens AG’s Peter Koerte, Member of the Managing Board, Chief Technology Officer, and Chief Strategy Officer, said that India is set to become one of the company’s top three to four global markets within the next three years. Speaking at the Transform-Innovation Day 2024 in Mumbai, Koerte emphasized that India’s infrastructure development will drive this shift, likely surpassing France and Germany in Siemens’ revenue rankings by 2027.
Currently, India stands as Siemen’s fifth-largest market, trailing the United States, China, Germany, and France. However, in terms of growth potential, Koerte highlighted that India is Siemen’s fastest-expanding market. Koerte pointed to sectors like transportation, building construction, and associated industries as critical growth drivers. Siemens offers multiple solutions across its infrastructure, industrial, and mobility segments to support India’s burgeoning infrastructure needs.
Last year, Siemens Mobility secured a landmark €3- billion order from Indian Railways, marking the company’s largest - ever deal in the locomotives segment both in India and globally. This order, Koerte noted, is poised to become a significant revenue stream with further potential for expansion as India’s public infrastructure investments grow. Sunil Mathur, Managing Director and CEO of Siemens India, also spoke on the growth opportunities fueled by India’s public capital expenditure.
He expected sectors like data centers, railways, and power to Siemens actively involved in metro projects in cities such as Mumbai, Bengaluru, and Kolkata.
Koerte emphasized Siemens’ commitment to addressing real-world needs in India through innovation. Siemens aims to simplify complex processes for its clients. Siemens presented solutions like the Industrial Metaverse, digital twin technology, and Generative AI applications for data centers and manufacturing at the event, reflecting the company’s focus on data-driven solutions and sustainability growth.
With 13 percent of Siemen’s global workforce based in India, Koerte noted that India is pivotal to the company’s strategy to build capabilities in software and cutting-edge technology.