US engine maker Cummins Inc aims to more than triple its investment in India to $500 million by 2015 as it introduces at least five new business segments. The company, which manufactures truck engines, power generation equipment and other vehicle components, plans to increase its investment in India from a total of $150 million allocated so far.
The new projects could include manufacturing of high-pressure fuel systems, 2.8-3.8 litre diesel engines for commercial vehicles and emission solutions.
Columbus, the Indiana-based group, which runs about 10 entities, including Cummins India, had so far spent Rs 5 billion ($110.2 million) of the allocated amount for its manufacturing site in Phaltan near Pune. The site includes manufacturing units for diesel and gas engines, power generators and redevelopment of existing engines.
Cummins, which currently gets about half of its domestic revenue from supplying the power generation industry, has also started a project in China to build 2.8-3.8 litre diesel engines meant for trucks and vans. By 2015, the group sees India’s contribution to its global business rising to 15 per cent from the current 10 per cent and exports from India rising to 40 per cent from 30 per cent.
| Company Name | CMP |
|---|---|
| Cummins India | 2884.70 |
| Greaves Cotton | 238.95 |
| Swaraj Engines | 2904.30 |
| View more.. | |
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