Mitsubishi Electric India Marks 15 Years with Focus on Manufacturing, Sustainability and Digital Growth

Manufacturing, Sustainability and Digital Growth

India: While global geopolitical uncertainties present short-term challenges, they also highlight India’s attractiveness as a manufacturing base, said the managing director of Mitsubishi Electric India (MEI) as the company completes 15 years in the country. MEI expects the next phase of growth to be driven by three key trends: expanding local manufacturing under Make in India, advancing semiconductor and digital transformation initiatives, and leading India’s transition towards sustainability and energy efficiency. Recent policy measures, including the Production-Linked Incentive (PLI) scheme and GST rate cuts on air conditioners and industrial components, are expected to stimulate demand and expand access to energy-efficient technologies. MEI reported ₹3,700 crore ($444 million) in revenue for FY24, a 21% year-on-year growth, while profit rose 94%. With an authorised and paid-up capital of ₹699 crore ($84 million) and a workforce of 621 employees, the company has strengthened its India presence through key investments such as a Factory Automation Systems facility in Pune and an upcoming air conditioner and compressor plant in Chennai.

MEI competes with Siemens, ABB, and Schneider Electric in factory automation and with Daikin, LG, Voltas, Blue Star, and Hitachi in air conditioning and building systems, serving major clients across the automotive, infrastructure, and energy sectors, including Indian Railways, metro projects, and renewable energy developers. Solutions like e-F@ctory, MELSOFT MaiLab, and MELSOFT Gemini enable Indian manufacturers to adopt smart manufacturing and digital factory technologies. While factory automation continues to anchor revenues, the life segment air conditioning, elevators, and escalators along with semiconductors and devices are expected to drive future growth amid rising urbanisation and demand for energy-efficient products. MEI’s Talegaon facility in Pune follows eco-friendly manufacturing practices, and the upcoming Chennai plant is designed to enhance local sourcing and reduce emissions, supporting India’s goals of energy efficiency and environmental stewardship. The company also continues to invest in talent, skill development, and optimised supply chains to ensure advanced digital and manufacturing systems meet India’s diverse industrial needs.

Source: Fortune India