India to become manufacturing hub, Schnieder Electric to invest Rs 3200 Cr | SURFACES REPORTER News Update

India is on its way to become the global manufacturing hub. The latest investment is made by Schneider Electric that has invested Rs 3200 Cr to set up its manufacturing facilities across the country. A report by SURFACES REPORTER.

An investment of Rs 3200 Cr over two years

According to the media reports, Energy management and automation major Schneider Electric will be investing Rs 3,200 crore by 2026 to make India its manufacturing hub for domestic sales as well as exports. As part of the investment plan, the company has already inaugurated a facility with Rs 100 crore investment to produce cooling solutions for data centres in Bengaluru.

The brand will set up manufacturing facilities for its various products and solutions across India in states including Maharashtra, Karnataka, Gujarat, Telangana, Tamil Nadu, West Bengal, Uttarakhand and Odisha.

Currently, it has 30 factories across India including the newly inaugurated cooling solution facility. This new facility is the second such chiller solutions factory of the company across the world. It had set up the first such facility in Italy.

More investments being made in varied manufacturing sectors

In a separate development, the Centre has approved the proposal for India’s first commercial chip fabrication plant. The development comes has come after more than two years when government first introduced the programme for the Development of Semiconductors and Display Manufacturing Ecosystem in India with a total outlay of Rs. 76,000 crores. 

Talking about the soaring investments in the varied sectors in India, Mr Nitin Gadkari,  Union Minister of Road Transport and Highways, recently said that India will be the number one automobile manufacturing hub by 2029. Not only this, the country will also become the third largest economy in the next five years, according to Gadkari. 

(With inputs from ET & Business Today)


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