New Delhi: Japanese manufacturer of heavy equipment Hitachi Ltd on Monday said that it would invest 4,700 crore in India till 2015-16 as it looks to expand its India revenue threefold to 20,000 crore during the same period, executive vice-president and executive officer Junzo Nakajima said in media round table.

“The company would bolster India businesses by production for consumption in India by increasing localization," Nakajima said.

The major business would come from sectors such as construction, infrastructure and services and it is exploring new business prospects from projects like metro trains, mono-rail and bullet trains.

The firm will also look to expand in Africa, the Middle East and Asia using India as a base for construction of machinery and power electronics products, Nakajima said.

Hitachi’s announcements come in the wake of its efforts to reduce dependence on the Japanese market—a move that is being followed by other Japanese companies such as Suzuki Motor Corp. and Honda Motor Co.

Hitachi wants to bring down the share of its revenue from Japan to 50% of overall revenue by 2015-16 from 59% in 2011-12.

Close