Piyush Goyal meets Schneider Electric CEO in Riyadh; discusses firm's investment plans for India

Commerce and Industry Minister Piyush Goyal on Wednesday held a meeting with Peter Herweck, CEO of energy management and automation major Schneider Electric, in Riyadh and discussed the company's investment plans for India. The minister is in Saudi Arabia to discuss ways to further deepen the strategic partnership between the two countries and explore new avenues of trade, investment and economic cooperation.

"Held a meeting with Mr Peter Herweck, CEO of @SchneiderElec, a global company specialising in energy management and digital automation with a strong presence in our country. Discussed the company's investment plans for India and how it can leverage the nation's talent pool and government support to provide high-tech, sustainable, and energy-efficient solutions to the world," Goyal said in a post on social media platform X.

In March this year, Schneider Electric said that it will invest Rs 3,200 crore by 2026 to make India its manufacturing hub for domestic sales as well as exports.


As part of this, the company will set up manufacturing facilities for its various products and solutions across India.

Presently, the company has 30 factories across India.

The minister also held a bilateral meeting with William E Ford, Chairman and CEO of the global growth investment firm, General Atlantic.

"Discussed the company's potential to collaborate with India's healthcare sector, especially in consumer-focused health enterprises. Additionally, explored potential for expansion of their investment in Global Capability Centres (GCCs), as well as various other sectors, in the country," Goyal said in another post.