Hitachi Energy India Ltd, a subsidiary of the Swiss-based Hitachi Energy and a prominent entity listed on both Indian stock exchanges, has demonstrated remarkable growth in recent years, surpassing the energy market’s growth rate with a compound annual growth rate (CAGR) of 11 per cent. This achievement is particularly significant as the broader energy market in India has experienced single-digit growth over the same period.
N Venu, MD & CEO, India & South Asia, Hitachi Energy, expressed confidence in the company’s future growth trajectory, citing a series of infrastructure projects initiated by the Union government. Reflecting on the market dynamics, Venu remarked, “Energy transition presents a substantial opportunity in India, with the overall market estimated to be between Rs 30,000-40,000 crore.” Currently, Hitachi Energy operates with around 7,000 employees across 19 factories situated in eight manufacturing sites across India. Additionally, it boasts shared services and a global technology and innovation center based in Chennai. This expansion underscores Hitachi Energy’s commitment to the Make in India initiative, aiming to cater to both domestic and global markets effectively.
Venu further highlighted Hitachi Energy India’s Corporate Social Responsibility (CSR) initiative, mentioning the establishment of the Smart Electric Grid Laboratory at the National Institute of Technology (NIT) Warangal, aimed at fostering quality education and skill development. Nearly 2,000 interns from institutes like NIT Warangal have been absorbed into the company as engineers, indicating a strong focus on nurturing fresh talent. Plans are underway to recruit more freshers annually to support Hitachi Energy’s growth trajectory.
Additionally, Venu revealed plans for Hitachi Energy Technology Services Pvt Ltd, a non-listed entity within the group, to establish Global Capability Centers (GCCs) in Hyderabad and Pune within the next six months to a year. Although specific investment details were not disclosed, Venu emphasized the company’s commitment to advancing this initiative, which remains in its initial stages.
Hitachi Energy remains at the forefront of global technological innovation, advocating for a swift transition to clean energy solutions to address climate change. The company continues to introduce pioneering technologies in India that integrate renewable energy sources into the global power grid and accelerate electrification across transportation, industrial, and residential sectors, contributing to a sustainable, carbon-neutral future.