Japanese consumer durables firm Hitachi has said that it plans to double its turnover to $2 billion in India by 2013 and it will set up a new research and development centre in the country by next fiscal.

Besides, the company is also looking to set up a new production facility dedicated to manufacture products, mainly more energy efficient ones, for the local as well as the overseas markets.

“We have a turnover of around $1 billion in India (at present). Our plan and mission is to double it in the next couple of years. We will keep on looking for business opportunities in the country,” the Hitachi Asia Chief Executive, Mr Yasunori Taga, told reporters here.

The company is already in the process to set up its first research and development centre in Bangalore, which will be operational by the end of next fiscal. Besides, it is also looking at setting up its fifth manufacturing facility in the country to meet the growing demands.

“Our vision is to have one R&D centre in India to address the global needs as well as to develop products for the local market... besides we also need to set up a new production site to meet the demands of the country and to have direct access to the market here,” he said.

He, however, did not provide how much Hitachi India will invest to set up the R&D centre and the new production facility. At present, the company has four plants which make products like air-conditioners and construction equipment.

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