The Silicon Review ^Asia

The German company – Siemens is currently launching a new startup incubator. The country it opted will be India. Siemens will be focusing on Next47 keeping in mind the $1 billion investment for global startups. A team of 4,000 software experts and experts in the field of Internet of Things (IoT) will be aiding the project for Siemens. According to reports, the firm is also setting up consultancies and digital services in different regions of the country. The COO of Siemens, Roland Busch did say that India is also an important market apart from China and the US. The firm agrees with the fact that India is looking for industrialization to have a higher share of GDP and hence keeping this in mind Siemens is ready to invest in India.

Siemens feel there is a market growth since people from India do work for other international markets. The fast growth of the Indian market is surely attracting some big players in the world and Siemens is one of them. We have already seen various companies like Tesla, Apple and more taking interest in India to bring in their product manufacturing or sale in India. Siemens stepping into another vertical will surely challenge the existing companies, but only time will tell how the Indian market reacts.