Siemens Metal Technologies has said execution of projects in India is the biggest worry for a global firm as the expansion and modernisation programmes take a long time to complete in the country.
"The biggest worry in India is that it takes a long time for execution, particularly in the public sector," CEO of Siemens Metals Technologies Werner Auer told visiting journalists at a recent global media summit in Mexico City.
Siemens is a leading global firm offering technological and modernisation programmes to metallurgical industry like steel. The company has significant presence in India.
Auer added that work on the expansion and modernisation programmes needs to be expedited in India to meet the projected rise in the capacity expansion of its companies.
He further said that Siemens is looking for a bigger pie from the growing Indian market, particularly from the steel sector.
"We are working with all the major public and private steel companies in India. India is a major market for us," Auer said.
India currently has installed steel making capacity of 90 million tonnes per annum and is world's fourth largest producer of the metal alloy. The government has projected steel making capacity of 140 MTPA by 2016-17 in the country.
Auer said that Siemens, which has an engineering centre in Kolkata with 100 professionals, is looking to hire more local population to increase its presence in the country.
"We plan to add more engineering hours in India by hiring more", he said, adding India accounts for about 12 per cent of Siemens' global business.
Stating that metal technologies domain of Siemens was dominated by both India and China, Auer said, the company had expanded the engineering network with additional 100,000 engineering hours in India and China during 2011.
For the current year, Siemens would focus on improving process technologies through advanced automation systems and close the portfolio gap in the furnace technology, he added.
