India is a hugely exciting market for us: Socomec
How do you define the business activities of Socomec at the Asia Pacific level as well as the group?
For us Socomec is a private organization, it is 100 years old and we are into critical applications, in the power, electrical distribution, and automation side. We are largely a French-based company, but we are in Asia Pacific also and in operation for more than 45 years and here in India it’s very exciting because it’s a very significant strategic market for us. We are into six market segments; which is Data Center, Healthcare, Renewables which is three major markers, and then C&I, Infrastructure, and so forth. But for us where we see the future is more electric, more digital, and more sustainable which is where we are very well positioned to capitalize this is the start of a new century for us and we are super excited and not only Asia and it will be Asia but at the same time we India will be the driving force for us as I see in the next five to ten years.
Where does Socomec stand in terms of providing quality power solutions for different industries?
Right, and that is actually if I look at it, it’s going in our favour. Because the three markets that I mentioned to you that in Data Centers and Healthcare, Renewables but mainly renewable is a source of energy that we draw from. But from the application point of view, Data Centers and Healthcare are critical. And the quality of the power, the efficiency of the power, has to be really at the right level and this is where we have expertise.
And we are one of the pioneers in large-size UPS which we produce of innovated produce our first large UPS in 1965. This is where we bring our expertise and also, we are launching this exhibition. When you move around in our stall a new innovative product in the high-power UPS in 1.2 megawatts in a very smaller footprint. That also will help this by phase capitalizing on these opportunities, their challenge comes is how can you improve your power density in a smaller footprint and this is where our innovative product is coming to help to realization of this potential within India and other markets as well.
Do you have a CAPEX commitment for the Indian market?
Yes, we have already done our investments now it’s more than from hard CAPEX. It’s more to make sure the offer localization. The CAPEX in terms of machinery is not from hard CAPEX, I would say that as well as from the competencies. We need to build the competencies as well in our teams because we are bringing some global offers to be created in India so that needs the competencies as well not only localizing the offers that have been designed and developed in Europe. These are the things that you’re looking at but of course, we have already budgeted we already planned for the next three years what going to be our investment in CAPEX for the Indian market.
How exciting is Elecrama for Socomec and you?
At the start of this interview, you mentioned that is the largest exhibition in this industry in the world and is exciting. One thing that’s very unique in Elecrama is exciting is that every year you see the enthusiasm, the excitement from the public and from the industry professional, that they are early in the morning they are rushing and throughout the day throughout the entire week you don’t see this much part of the world so that’s a great excitement for us where we draw sometimes the energy from our customers, from our partners, from our clients, from the public. This has been great to see that still in India, still, in Elecrama it brings a lot of memories from three years ago.
This for me it’s great because now even people who come here see a technology that sometimes was talking about the technology of the future but now these technologies are it’s been implemented so not everything but most of the things that we are displaying has been implemented so that gives the confidence also because we are end of the day as human beings we like to touch and feel things not only on the idea so today the ideas of three-four years has come to realization and then the few are the ideas that we are coupling up with this it gives the confidence to the end users or the partners or our clients and to ourselves as well. Exciting and excited as ever and I can see the vibes already.
Where would you like to strengthen your presence and what is what will be the growth focus area?
The five core industries are the five cores where we would like to invest. There is multiple more beyond that. We are talking about Data centers for sure, we are talking about Renewables, we are talking about the industry, the buildings, these are the areas and healthcare for sure we will be putting in a lot of our efforts in these five segments today all these five segments and sectors are investing like MSMEs, like Healthcare, like Food Industries, Process Industries, like the Renewables in terms of not only solar but the entire gamut of solar coming in and data centers. So, we are these are five core areas where we want to invest in.
Do you have any CAPEX plan in mind?
Yes, we have a CAPEX plan which is already approved by the board for investing in India and we are looking forward that how that can be best utilized I don’t want to lose that for the country for this year. So certainly, yes, we will be investing in this country as you move forward in the right areas which are better for our country, and for our employees than our company.
