Havell's India Ltd, the power distribution equipment maker, on Monday said it has bagged two orders worth $6.5 million from a British and a Spanish company.
It includes a $5 million outsourcing order from a United Kingdom-based firm for the supply of miniature circuit breakers.
Havell's has also secured a $1 million order for supplying energy meters to Iberdola, a leading utility company in Spain.
This order has been procured through Havell's joint venture partner, DZG of Germany, a company release said, adding this has made Havell's the first Indian company to foray into the Spanish electrical equipment market.
The flagship company of QRG Enterprises expects these latest deals to help it achieve a three-fold increase in export earnings to Rs 50 crore (Rs 500 million) in this fiscal.
"The company's recognition in the foreign markets for high quality standards of its products and equipment has led us to make inroads into newer markets," Anil Gupta, director, Havell's India, said.
The company expects exports to contribute 10 per cent of the group turnover this fiscal, he said, adding Europe has been identified as a key market to achieve this target.
Havell's India has recently diversified into new businesses like fans and lamps and plans to export these products to countries like Malaysia, Bangladesh, Iran, Singapore, Nigeria, Brazil and Argentina.
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