With over 24,000 employees and two major innovation hubs, India is a key growth market for Siemens, said Member Managing Board AG Chief Technology Officer and Chief Strategy Officer Peter Koerte of Siemens.
Essentially every product that Siemens is shipping is software enabled and the software has been most largely touched by Indian engineers, Koerte told NDTV Profit on the sidelines of the World Economic Forum 2025 at Davos, Switzerland.
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"India has the power to become the third largest economy by 2030...we say that Siemens needs India for growth but India needs Siemens for productivity, growth and technology," he said.
Siemens AG is a German multinational technology conglomerate, focusing on industrial automation, distributed energy resources, rail transport and health technology.
According to Koerte, there is an enormous opportunity for India because many people are not skilled yet in the economy.
"If you think about the 60 million small and medium enterprises in India, this is a huge opportunity, so we have to bring simple technology that is easy to apply and easy to plug and play into their existing environment and give Indian factories and buildings the initial edge that they need," he said.
This has come as Siemens is amidst a transformation to take technology powerhouses that bring all the benefits to industry, infrastructure and mobility, Koerte said.
Koerte believes that artificial intelligence is helpful but industrial AI will be more productive as industrial data can be used to improve industrial processes.
This makes factories more productive, trains safer, and energy building more efficient.
"We bring productivity, energy efficiency and knowledge to industrial growth. We can analyse and see where energy is more needed, where construction is happening, where water consumption is required and where tech can help us to spot and make everyday better," he said.
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