Socomec to accelerate Make in India to serve Sri Lanka and Bangladesh markets

CHENNAI: Socomec India, the Indian entity of French power management solutions player Socomec, is expanding into Sri Lanka and Bangladesh markets, and is consolidating the three countries into a unified business entity.
The move is driven by digitisation and economic opportunities in the two emerging markets, and the demand in these countries will be served by ramping up India manufacturing, logistics, sales, marketing and other functions, Socomec executives told TOI.With this expansion, Socomec India aims at doubling its revenue in the emerging market regions within the next three years.
"This reaffirms our commitment to support the Atmanirbhar Bharat initiative and energize the country while also solidifying our dedication to the ‘Make in India’ initiative with India serving as a pivotal hub for Socomec’s growth in the Asia Pacific region," Meenu Singhal, regional managing director (India), Socomec Group, said. The company currently has two plants in Gurugram and is exploring capacity expansion across India with south India also in contention because of its proximity to ports, Singhal added.
Socomec Group recently made a €5 million investment in the Indian market to enhance its manufacturing capacity. This will be used towards meeting local demands and for Sri Lanka and Bangladesh markets through exports. Socomec India's products include uninterrupted power supply, power switching, and monitoring solutions. These serve sectors including data centres, manufacturing, healthcare, infrastructure, commercial buildings and renewable energy, among others.
Socomec has appointed Suhard Amit as the general manager, tasked with steering the company's initiatives in the emerging markets of Sri Lanka and Bangladesh.