Honeywell bullish on India for business growth
Friday, May 08, 2009 (08:23:21)
Tags: Business, Growth, India
Bangalore: Global technology and manufacturing major Honeywell International is bullish on driving its business rapidly in India, a country that offers "huge opportunities" in its manufacturing and industrial sectors, a top official said here on Thursday.
"We see huge opportunities in harnessing the potential of Indian manufacturing sector and meeting the country's diverse industrial requirements to improve the standard of living through aerospace, automation and control solutions, transportation systems and specialty materials," Honeywell chief executive David Cote told reporters here.
Unveiling the company's largest research and development (R&D) facility outside the US in this Indian tech hub, Cote said Honeywell's operations in India became an integral part of its global growth strategy, with a manufacturing location, export hub and a centre of engineering excellence in the sub-continent.
The $50 million (Rs.250 crore) R&D facility features laboratory, simulators and a training centre for about 3,000 engineers.
"India will continue to play a major role in our operations worldwide. The fact we have grown our headcount to 11,000 from 1000 in 2002 and sales to $600 million from $50 million in the same period demonstrates that we have tremendous scope to scale our business to $1 billion in the next three years," Cote said.
Positioned strategically in growth areas, including aerospace and defence, public safety and security and infrastructure development, Honeywell is collaborating with state-run Hindustan Aeronautics Ltd (HAL) to manufacture TPE331 aircraft engines.
The US-based $37-billion firm has bid for a lucrative order from the Indian Air Force (IAF) to retrofit its Jaguar fighters with F125IN turbofan engine.
The company is also eyeing the security systems business with wireless applications, fire detection system and automation and control systems for managing the entire petrochemical units in the country.
With five manufacturing facilities across the country, Honeywell's Indian subsidiary is offering specialty materials for oil and gas refineries and petrochemical projects.
"We have also developed green diesel, which is a creation of a drop-in diesel fuel and different from bio-diesel. Our green diesel can be processed from jatropha plant or algae and need not be blended like bio-diesel. It is non-corrosive," Cote said.
The company has also come up with new fertiliser with non-explosive ammonium nitrate to ensure the material is not misused for making low-intensive bombs.
"In aerospace and transportation, we see a huge market for our turbo-chargers, a smart version of jet engines that uses 25 percent less fuel but produces 25 percent more power as jet engines," Cote stated.
Honeywell Technology Solutions president Krishna Mikkilineni said his team of engineers was working on developing critical technologies for global and Indian customers ranging from safe landing systems for aircraft to security solutions.
"India's intellectual capital is a competitive advantage. We are building a world that is safer and more secure, more comfortable and energy-efficient, more innovative and more productive," Mikkilineni affirmed.(IANS)