United Tech targets $2.5 bn revenue in India

United Tech targets $2.5 bn revenue in India

New Delhi: Diversified US manufacturer United Technologies Corp. expects to grow its India revenue by a fifth from about $500 million in 2009 and has set a target of achieving $2.5 billion in revenue by 2015, its chairman said on Tuesday.

“Fact is, the numbers in India are very compelling as far as the growing middle class, the largest work force in the world for a nation," Louis Chenevert, who became company chairman in January, told journalists in the National Capital.

“And they all want to adopt modern life."

Hartford, Connecticut-based United Tech makes Otis elevators, Sikorsky helicopters and Carrier air-conditioning systems as well as fire and security systems. United Tech is the world’s largest maker of elevators and air conditioners.

Chenevert said they had set a target for Otis to have $1 billion in India sales by 2015.