Davos Effect: Hitachi India's USD 20 Billion Target Electrifies Global Markets

Hitachi India envisions a substantial growth trajectory, anticipating a noteworthy contribution of USD 20 billion in revenue to its Japanese parent by the year 2030. This strategic outlook was shared during discussions at the World Economic Forum annual meeting in Davos.

The company positions India as a pivotal global hub, particularly emphasizing its significance in the components and capital goods sectors. Hitachi India anticipates that its rail and power business will emerge as the primary revenue driver in the coming decade. Notably, during the second quarter of the financial year, Hitachi Energy secured contracts, including a project aimed at integrating four GW of renewable energy from Rajasthan into the national grid.

Hitachi Energy India, specializing in the production of equipment such as transformers and circuit-breakers for energy transmission, along with railway components, plays a crucial role in achieving these ambitious revenue targets. Additionally, Hitachi India is actively involved in the initial stages of a significant rail project for the Washington DC metro as part of a Baltimore rail deal.

In the fiscal year 2023, the ASEAN-India region contributed 717.7 billion yen to Hitachi's total revenue, constituting 9.4 percent of the overall revenue landscape. This highlights the company's commitment to leveraging the growth opportunities presented by the ASEAN-India region as a key driver of its global expansion strategy.

News by Rahul Yelligetti