Socomec's $10 Million Bet on India's Power Future

French power solutions provider Socomec is set to invest USD 7–10 million to establish a new manufacturing facility in India, as part of its ongoing expansion strategy in the region.

With its two existing factories in Gurugram operating at full capacity, the company is actively exploring new sites in southern and western India. Location selection will be guided by regulatory ease and the overall business environment, with the new facility likely to be set up on a leased site to reduce initial capital expenditure.

Socomec’s Indian operations have been growing at over 20% annually, with revenue projected to surpass ₹1,000 crore in 2025. Currently, 50% of its local sales are fulfilled through ‘Make in India’ manufacturing, with plans to raise this share to 70% in the near future.

The company specializes in power conversion, switching and monitoring systems, and energy services, catering to fast-growing sectors such as data centres, healthcare, renewables, manufacturing, and electric vehicle (EV) charging infrastructure. Socomec also holds a dominant 55% market share in India’s solar DC switchgear segment and sees significant growth potential in battery energy storage systems (BESS), aligning with India’s clean energy and e-mobility ambitions.

News by Rahul Yelligetti.