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Dutch consumer electronics major, Philips on Wednesday said it will double the capacity of its software centre in India, even as the company is looking at shifting the back-end operations from other countries to its Shared Service Centre in Kolkata and making it a global base for knowledge intensive work.
"We would be doubling the head count at the software development centre in Bangalore in the next two years with the aim to turn India into global base for knowledge intensive work," Gerard J Kleisterlee, global president and cheif executive officer, Royal Philips Electronics told reporters in New Delhi.
Kleisterlee, who along with the Royal Philips directors is on a week-long visit to India to conduct a comprehensive review of operations and firm up future growth strategy.
Philips Software Centre in Bangalore is a 100 per cent subsidiary of the Dutch major and is involved in corporate research and patent filings, and employs about 1,000 people.
Recognising the fact that India had emerged as one of the high growth markets, Kleisterlee said, "The company had invested close to $150 million in India over the last five years and we would like to see an investment of a similar magnitude in the coming years."
Stating that the company was eyeing a growth of 25 per cent in current year from Asia, he said India would be positioned as the competence centre for emerging markets.
"The market conditions are attractive. India is a fast emerging economy with low product penetration. The country is gaining recognition for its increasing pool of local knowledge and talent", he said in New Delhi.
The Dutch parent has already amalgamated businesses including consumer electronics, lighting, domestic appliances and semi-conductors under Philips India and increased its stake to over 93 per cent.
The visit by the company's senior management to India is the first time in 73 years and an indication of India's growing importance as a business destination.
While acknowledging that Philips needed to work more in the area of consumer electronics in the country, Kleisterlee said the company was looking at increasing its market presence in all areas as also show double digit growth.
"We would like to be the most admired and respected lifestyle and healthcare company in India, a consumer and market driven company, and show double digit growth," he said.
Philips, which is a market leader in medical systems in the country, is planning to move its medical systems further forward in the country, he said.
Philips India CEO K Ramachandran said the company was positively putting in place a plan to bring transaction operations from other countries to its Shared Service Centre in Kolkata.
The centre which employs about 60 people handles transactions of Indian operations.