Financial Daily from THE HINDU group of publications
Friday, Dec 09, 2005
Financial Daily from THE HINDU group of publications Friday, Dec 09, 2005 |
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Info-Tech
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Outlook Honeywell may assemble products in India Our Bureau
Bangalore , Dec. 8 SENSING a big market opportunity in India for its security products, Honeywell is toying with the idea of setting up assembly lines for a few of its products at its existing locations within the country. Mr Ben Cornett, President, Honeywell Security Group, said India and China were the big emerging markets for the company. "We are evaluating options for assembling a few of our products in India for the market here if the volumes justify," he said adding the investment plans for the same were being worked out. For the Indian market, Honeywell currently imports various products such as the access control devices, video systems, among others, from its manufacturing plant at Shenzen in China. Honeywell has seen a three-fold growth for its security products in the last one year, said Mr Cornett, who is currently in India to be part of the awareness exercise that the company is conducting at various locations. Honeywell is targeting various verticals such as the banking and financials services and the IT and BPO among others to create awareness about its products. "We aim to capture a 10 per cent market in India soon," said Mr Anant Maheshwari, Director, South Asia for Honeywell Security.
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