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nterview | Jim Bujold, President-India, Honeywell International
US-headquartered Honeywell has spent $34 million to set up its fourth technology centre in Gurgaon. The new facility will develop technology to expand Honeywells business into refining, petrochemicals and low-global warming sectors, among others. Indias decision to allow state-run defence companies to form partnerships with private players have opened new opportunities for this US firm. Jim Bujold, president, India of Honeywell International (I) Pvt Ltd talks about the companys growth strategy in an interview with Siddhartha P Saikia. Excerpts:
Recently, India allowed its state-run defence companies to form joint ventures with private firms. Do you see this as an opportunity for Honeywell?
I think the entire defence space in India is an opportunity for Honeywell. I think there is high need for technology here. We certainly look at India as a very strong market for us in defence. Realistically, in defence you can do more business with friends. Clearly, over the past few years, relationship between India and the US has improved dramatically. We look at that as very positive trend for us. Now, how that plays out, the public private partnerships, we are yet to see.
Honeywell has been in India for more than a decade. How do you see your growth trajectory?
Over the past 10 years, we have gone up from 1,000 employees to 13,000 employees now. We have seen significant growth in India. We opened five factories. Now, our focus for is not just to grow in order to support rest of the world, but also to grow in the Indian market.
What is your current size of operations in India? How much of it is generated from domestic market?
This year we crossed the $ 1 billion mark. This is a big goal for us to reach. We are very positive and bullish for India. Out of this, about $700 million is generated from domestic market, remaining is from overseas. Our focus over the past few years is to increase the size of domestic market. We want to be well positioned for the future growth in India.
Do you see touching the next billion in next five years?
I certainly hope so. But again, there are lots of dynamics that go into it. Lot of it has to do with the condition of economy. Our technology development in India supports our businesses globally.
How do you rate India among Honeywells global operations?
I do not have exact rankings. US, China and India are key markets for us. Certainly, these economies are at different stages now. Key market means where we think our growth is coming from. When we look at horizon of next five years, clearly we see a large percentage of our growth coming from these regions. India would be in this ranking. China is also part of that. There are growth opportunities in the US. But certainly, the condition of the economy in the US today, has impacted our ability to grow.
Did you prefer India than China for setting up technology centres?
We choose India because talent pool is here. And also, it is closer to where most of our business is happening these days such as India, China and South East Asia. We made a conscious decision not to be in China. Frankly, we feel that India is a better environment to protect the intellectual property assets, which is important to our business.
In India, which sectors do you expect to offer you maximum growth in the coming years?
I would say energy would be number one. There are lots of investments around energy that also includes management, reduction of usage, efficiency in buildings, efficiency of diesel engines, among others. Also, security would be getting to see more activity in India.
We look at India as a very strong market for us in defence
US-headquartered Honeywell has spent $34 million to set up its fourth technology centre in Gurgaon. The new facility will develop technology to expand Honeywells business into refining, petrochemicals and low-global warming sectors, among others. Indias decision to allow state-run defence companies to form partnerships with private players have opened new opportunities for this US firm. Jim Bujold, president, India of Honeywell International (I) Pvt Ltd talks about the companys growth strategy in an interview with Siddhartha P Saikia. Excerpts:
Recently, India allowed its state-run defence companies to form joint ventures with private firms. Do you see this as an opportunity for Honeywell?
I think the entire defence space in India is an opportunity for Honeywell. I think there is high need for technology here. We certainly look at India as a very strong market for us in defence. Realistically, in defence you can do more business with friends. Clearly, over the past few years, relationship between India and the US has improved dramatically. We look at that as very positive trend for us. Now, how that plays out, the public private partnerships, we are yet to see.
Honeywell has been in India for more than a decade. How do you see your growth trajectory?
Over the past 10 years, we have gone up from 1,000 employees to 13,000 employees now. We have seen significant growth in India. We opened five factories. Now, our focus for is not just to grow in order to support rest of the world, but also to grow in the Indian market.
What is your current size of operations in India? How much of it is generated from domestic market?
This year we crossed the $ 1 billion mark. This is a big goal for us to reach. We are very positive and bullish for India. Out of this, about $700 million is generated from domestic market, remaining is from overseas. Our focus over the past few years is to increase the size of domestic market. We want to be well positioned for the future growth in India.
Do you see touching the next billion in next five years?
I certainly hope so. But again, there are lots of dynamics that go into it. Lot of it has to do with the condition of economy. Our technology development in India supports our businesses globally.
How do you rate India among Honeywells global operations?
I do not have exact rankings. US, China and India are key markets for us. Certainly, these economies are at different stages now. Key market means where we think our growth is coming from. When we look at horizon of next five years, clearly we see a large percentage of our growth coming from these regions. India would be in this ranking. China is also part of that. There are growth opportunities in the US. But certainly, the condition of the economy in the US today, has impacted our ability to grow.
Did you prefer India than China for setting up technology centres?
We choose India because talent pool is here. And also, it is closer to where most of our business is happening these days such as India, China and South East Asia. We made a conscious decision not to be in China. Frankly, we feel that India is a better environment to protect the intellectual property assets, which is important to our business.
In India, which sectors do you expect to offer you maximum growth in the coming years?
I would say energy would be number one. There are lots of investments around energy that also includes management, reduction of usage, efficiency in buildings, efficiency of diesel engines, among others. Also, security would be getting to see more activity in India.
We look at India as a very strong market for us in defence
