Hyderabad, Honeywell Technology Solutions’ focus will be on “India for India” portfolio to develop more products for the domestic market, a senior company official said on Thursday.
“We are developing products that are smarter and connected and this gives us a huge opportunity. We are in leading position to be really a big player,” said Honeywell Technology Solutions, India, Vice President and General Manager Akshay Bellare, adding 60 to 70 per cent of their 7,000 engineers in India are software engineers.
The company was poised to become a software-industrial leader. With world-class software talent in India, it is not only developing new products but is also adding a software layer to its existing portfolio, he told reporters here
Honeywell is looking to grow rapidly at 15-20 percent in India, riding on the transformation with its connected technology portfolio across sectors, The multinational conglomerate expects business growth in India to be higher than the developed markets. Honeywell’s domestic sales and exports were worth more than $1 billion last year, growing 17-18 per cent. The company currently has six manufacturing facilities in India. Bellare said they would continue to invest in manufacturing to be a part of ‘Make in India’. “The company expects to continue 2x to 2.5x of GDP growth. India is growing at 7 percent and our company wants at least 2x ideally even 3x growth.
“The more new products we develop that have software play, the faster we are going to achieve this,” said Bellare. With its global sales at $40 billion last year, Honeywell is betting big on India for a variety of reasons, mainly the high GDP growth, the reforms and the company’s transformation.
It globally has 130,000 employees and 23,000 of them are in engineering and technology team. Referring to the industry’s shift towards Internet of Things (IoT), Bellare said unlike many others who were in digital and trying to get into things, Honeywell has things and it has to only add a software layer. He said smart cities project in India would be a great opportunity for the company. Digital India will also be a focus area as the company looks to develop more mobility solutions.
