NEW DELHI: The company also plans to explore the possibility of using India as a manufacturing base for exports of a wide range of consumer electronics products to other countries, said K. Ramachandran, chief executive officer of Philips India. "Philips has invested close to $150 million in India over the last five years and we would like to see an investment of a similar magnitude in the coming years," Ramachandran told reporters here. "We will also make investments on enhancing our distribution and reach even further, and on the brand that is the ultimate strength of Philips," he added. Philips India, the local arm of Royal Philips Electronics, has a presence in lighting, consumer electronics, components, semiconductors, domestic appliances and personal care industry segments in the domestic market. The company, which has been operating in India for over 70 years, logged a turnover of over 16 billion in 2002. It employs over 3,100 employees at its six facilities and several sales offices across the country. Gerard Kleisterlee, global president and CEO of Royal Philips Electronics, said India would be the main focus area for its Asian Pacific business and that the company would position the country as global base for software development. "Today 20 percent of all software that Philips uses worldwide is coming from India. India will emerge as a global base for our global software development in coming years," he said. Philips set up a software development facility in Bangalore in 1996. The centre currently employs over 1,000 professionals. Kleisterlee said his company plans to significantly increase the number of employees at its Bangalore facility to take advantage of the vast pool of local knowledge and talent. "Asia Pacific accounted for over 22 percent of our global sales in 2002. This is expected to increase to 25 percent in the current year. We wish to invest heavily on research and development and creation of intellectual property in the region."
Source: IANS