WE ARE AIMING TO ACHIEVE RS 1,500 CRORE REVENUE MILESTONE IN INDIA BY FY24: Shivaji Waghmare, CEO of Fuji Electric India

Fuji Electric India, a subsidiary of a 100-year-old group Fuji Electric Co. Ltd, is witnessing exponential growth in the country. The industrial automation and energy-efficient solutions provider recently surpassed Rs 1,000 crores for the FY 2022-23 and aims to generate Rs 1,500 crore in annual revenue in India by 2024. In an exclusive interview, Shivaji Waghmare, CEO of Fuji Electric India, discusses with Nisha Shukla the future roadmap for the company, which also involves enhancing manufacturing, R&D, and workforce capabilities in India whilst fostering a strong “In India - For India” approach

- Nisha Shukla

How is Fuji Electric carrying forward the 100-year-old legacy of its group company in India? What makes India an important market for you in terms of manufacturing and market expansion?

Fuji Electric India is a subsidiary of a 100-year-old group (Fuji Electric Co. Ltd.). We are constantly striving to live up to the standards established by the latter. We are working in alignment with the global strategy of Fuji Electric. Our team is working towards realising the vision of becoming the premier, preferred, and leading energy and automation solutions provider.

Our parent company, Fuji Electric, is keen on developing local capabilities and expanding the workforce - ‘in the country – for the country.’ Our mid-term goal is to enhance our manufacturing capacities, R&D centres, and workforce capabilities in India. These measures have enabled Fuji Electric to offer solutions made in India based on Japanese technology to the global market.

Are you planning to increase the market share of any of your business segments, i.e., energy/automation?

As a global leader in power electronics and industrial automation, we have been actively expanding our presence in various markets worldwide, including India. With this objective, we have invested significantly in our manufacturing facilities, research and development, and strategic partnerships to cater to the growing customer demand and enhance our market share.

In the last 3 to 4 years, we have launched multiple new products built to cater to the challenges of our Indian customers, especially in the data centre segment. As this segment is witnessing exponential growth, we are partnering with many end-users and providing them with reliable and efficient solutions.