News Brief | November 2016
ABB looks to make India power export hub
Swiss giant ABB as part of its increased India focus is looking at making India an export hub for power and automation technology solutions. The power major will scout for opportunities in software engineering, software applications and artificial intelligence through its newly launched venture capital arm, ABB Technology Venture. Commenting on the same, Ulrich Spiesshofer, Global Chief Executive, ABB said, ´We are keen to make India our export hub for power and automation technology solutions in the future. India has always been a very strong pillar of our success in power grids. We are one of the strongest local players in the power grids space with a large team. Therefore India is becoming more and more an important export hub for us in this area.´On an average its annual investments in India have been USD 100 million to meet capex needs to upgrade facilities or put up new facilities.