Atsushi Takase Outlines Mitsubishi Electric's PLI, India Plans

Mitsubishi Electric India celebrated its fifteenth anniversary in India, the Managing Director, Atsushi Takase, stated that India has an enormous potential to be the next global manufacturing hub.

He further mentioned that, MEI will leverage the Make in India initiatives, Semiconductor and Digital transformation and also Sustainability to achieve new heights of success in India. “The next few years will be dedicated to work that will establish India as a leader in the domain of innovation, smart manufacturing, and energy efficiency. MEI is indeed fortunate to be a major player in this journey,” said Takase.

MEI’s revenue for the financial year of 2023-2024 has grown to Rs 3,700 crores, which is 21% higher than the last financial year. The profit has recorded a two-fold increase of 94% year-on-year. The company has a paid-up share capital of Rs 699 crores, and as of 621 employees.

MEI has extended its presence in India with the establishment of the Pune Factory Automation Systems facility and the upcoming air conditioner and compressor plant in Chennai. These two investments indicate the firm’s strategy of local manufacturing and Research and Development capabilities.

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Mitsubishi Electric India is one of the factory automation industries' major players who compete with Siemens, ABB, and Schneider Electric. While in the air conditioning segment, it is nicely positioned against Daikin, LG, and Blue Star.

MEI serves major clients in the automobile, infrastructure, and convertible energy sectors. e-F@ctory, MELSOFT MaiLab, and MELSOFT Gemini, are some of the solutions with the help of which the company is providing smart and digital factory technologies to Indian manufacturers.