Siemens India, a unit of German-based Siemens AG, said Tuesday it will double the size of its operations in the next three years. The growth in India would be in the areas of domestic business, exports and sourcing, Siemens AG chief executive Peter Loscher told reporters on Tuesday, in his first visit to Asia after taking charge in July this year.
"We are here to stay and grow. We remain bullish for India's economic growth story," Loscher said. Public transportation, healthcare and communications are big opportunities," company officials said separately. Siemens India net profit for the third quarter ended June 30 rose nearly 45 percent to 817.9 million rupees (20 million dollars) from 565.2 million rupees a year earlier while total income rose 73.5 percent to 18.2 billion rupees.
Siemens shares on Tuesday fell 67.9 rupees or 5.68 percent to 1,127.85 while the benchmark 30-share Sensex index fell 438.44 points or 3.04 percent to 13,989.11.
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