India, New Delhi: During his visit to New Delhi, Siemens CEO Joe Kaeser announced the company will invest €1 billion ($1.1 billion) in India in response to Prime Minister Narendra Modi's 'Make in India' initiative.

Siemens to invest €1B in India and create 4,000 jobs

India, New Delhi: During his visit to New Delhi, Siemens CEO Joe Kaeser announced the company will invest €1 billion ($1.1 billion) in India in response to Prime Minister Narendra Modi’s ‘Make in India’ initiative.

As part of the investment, the company will be considering mergers and acquisitions, as well as shifting some international functions and certain regional responsibilities to India, reports The Economic Times.  

Committing to support ‘Make in India’ initiative, the investment will create 4,000 jobs in India adding to its existing workforce of 16,000 in the country.

Source: The Economic Times
Image: Siemens AG

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