French energy automation company Schneider Electric is set to strengthen its presence in India and utilise it as a hub for global markets, according to Deepak Sharma, Zone President?Greater India and MD & CEO. In 2023, the company experienced a 20% growth in exports from India.

Recognising the increasing demand in international markets, Sharma emphasised the company's commitment to innovation. Schneider Electric aims to develop cutting-edge products and solutions to meet evolving customer needs. India holds a significant position for the company, being its third largest market and the location of its largest workforce, comprising 37,500 employees.

Schneider Electric is expanding its operations in India, venturing into solar panel manufacturing with a new factory in Haridwar, Uttarakhand, expected to be operational by mid-2024. This facility is part of the company's plan to establish new smart factories covering 1.2 million square feet by 2026. To support this growth initiative, the company intends to invest Rs 3,200 crore, spreading across multiple states including Gujarat, Telangana, Karnataka, West Bengal, Orissa, Tamil Nadu, Maharashtra, Himachal Pradesh, and Uttarakhand.

Sharma highlighted the company's commitment to environmental sustainability. Schneider Electric aims to achieve carbon-neutral operations by 2025, be 'net-zero ready' by 2030, establish an end-to-end carbon-neutral value chain by 2040, and achieve net-zero CO2 emissions across its entire value chain by 2050. The company is actively engaging with its suppliers, particularly in India, to align them with its 2050 renewable energy target. Additionally, Schneider Electric is assisting 70 Indian suppliers, out of a total of 1,000 identified, in areas related to smart manufacturing and digitisation, facilitating their energy efficiency and sustainability objectives.

Furthermore, Schneider Electric has acquired Zenatix and manages 700 MW of renewable power purchase agreements, offering sustainable solutions, including on-site solar installations and the procurement of off-site solar and wind energy. The company also plans to engage an additional 200 suppliers, including micro, small, and medium enterprises, to support its expansion efforts in India.

Source: The Financial Express