Industrial automation solutions provider, Fuji Electric is keen to expand its presence in India and plans to make higher investments. The company is mulling a bigger factory set-up, and Tamil Nadu is the preferred state, as it looks to diversify its supply chain operations from China.
In the next two years, Fuji Electric is also planning to hire local workforce in the Chennai plant, which currently has over 500 employees and an R&D centre. The firm had infused Rs 150 crore investment in its new factory in the city, six months ago.
The company is also looking to export the products manufactured in India to the APAC region, as well as export casting parts to European nations and other countries. As the company currently provides AC drive, plans are also afoot to acquire motor manufacturers for business expansion.
Moreover, its parent company in Japan expects to invest up to USD 200 million by next year.