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German automotive and industrial component maker Schaeffler AG has reaffirmed its commitment to India, announcing plans to invest more than €100 million every year over the next five years to expand its operations in the country. The move underscores the company’s long-term strategy to tap into India’s growing automotive and industrial sectors.
“If we compare the Indian market, with all its opportunities, to other markets, this is a friendly environment for us, where we feel that we can do much more,” Klaus Rosenfeld, CEO of Schaeffler AG, said during a media roundtable.
Today, the India business contributes more than a billion euros in revenue to Schaeffler. The company has six plants in the country, with the latest one opened today. It has a workforce of around 3,600 employees, with a growing trend.
The company’s latest greenfield plant in India, built with an initial investment of €35 million, focuses on clutch production and houses state-of-the-art heavy-duty presses. Spread over 108,000 square meters, it represents Schaeffler’s determination to expand capacity and meet growing local demand. Two additional halls are planned for future expansion.
The Indian market has become increasingly important for the group. “In this geopolitical environment, with all the tensions that we have, with all the stress in supply chains, with disruption—I think our relationship with India has proven to be strong. We’ve always seen reliable partners here,” Rosenfeld said.
Harsha Kadam, Managing Director and CEO of Schaeffler India, echoed similar optimism. “We’ve consistently delivered double-digit growth year after year. Our focus has always been on creating and delivering value for all stakeholders,
This article first appeared on Autocar
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