Xylem expands Indian operations with new tech center in Bengaluru
Global water technology company Xylem Inc. is expanding its operations in India with the creation of a dedicated India technology and customer experience center in Bengaluru. The center, which opened last week, will be followed by a similar technology hub in Vadodara, Gujarat, as Xylem looks to tighten up its business in one of the regions most likely to provide growth for the company in coming years.
Xylem’s share price is up by 14% so far this year
SOURCE: Yahoo Finance
India is already a huge driver of global growth, but it hasn’t modernized as quickly as China. As the latter country faces demographic difficulties, India is forecast to become the star of the developing world within years. At the beginning of this month, news broke that India had finally eclipsed its Asian rival to become the world’s fastest growing major economy.
For Xylem and similar companies, the potential is huge: India is in desperate need of the kinds of technology that Xylem produces, water filtration systems, pumps to clear deluged areas following the annual monsoon season, and more. At present, an enormous amount of the country exists without access to clean water, and without reliable water infrastructure.
The center in Bengaluru will house a number of competencies designed to “accelerate the development of critical water and infrastructure solutions for its customers in India and around the world.” It will develop products with “a focus on software and advanced infrastructure analytics,” and employ 400 engineers to create these innovative solutions.
Dominion holds Xylem Inc. in its Global Trends Managed Fund.
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