SKF to increase investments in India to double global revenues
ECONOMY & POLICY

SKF to increase investments in India to double global revenues

Swedish auto component major SKF Group is looking at increasing investments throughout its features in India as a technique to double global revenues, on improved margins, by the end of the last decade.

SKF Group Global President & CEO Rickard Gustafson told the media that India is a big market and a significant one for SKF. Given the group's attention to increasing regionalisation in Asia to greater than 85% from about 60% according to its not too long back outlined strategic framework, there will probably be alternatives for investments in property, plant and tools in the nation to help development objectives.

He added the group has strong technical capabilities, and there is a selection of several industries comparable to excessive velocity equipment, agriculture, railways and electrical motors that are of high interest.

The Rs 25,938-crore Production Linked Incentive (PLI) Scheme approved by the federal government to promote indigenous production of eco-friendly autos and parts with superior auto applied sciences particularly augurs nicely for the native trade.

Gustafon told the media that the three global megatrends – electrification, automation, sustainability – will boost development options in India.

SKF Group registered a turnover of Rs 69,811 crore in 2021. India at present accounts for approximately 5% of global revenues.

Separately, Gustafon told the media that there may be challenges in the global supply chain due to the battle between Russia and Ukraine.

Image Source

Also read: Auto PLI attracts investment of Rs 74,850 cr for five years

Swedish auto component major SKF Group is looking at increasing investments throughout its features in India as a technique to double global revenues, on improved margins, by the end of the last decade. SKF Group Global President & CEO Rickard Gustafson told the media that India is a big market and a significant one for SKF. Given the group's attention to increasing regionalisation in Asia to greater than 85% from about 60% according to its not too long back outlined strategic framework, there will probably be alternatives for investments in property, plant and tools in the nation to help development objectives. He added the group has strong technical capabilities, and there is a selection of several industries comparable to excessive velocity equipment, agriculture, railways and electrical motors that are of high interest. The Rs 25,938-crore Production Linked Incentive (PLI) Scheme approved by the federal government to promote indigenous production of eco-friendly autos and parts with superior auto applied sciences particularly augurs nicely for the native trade. Gustafon told the media that the three global megatrends – electrification, automation, sustainability – will boost development options in India. SKF Group registered a turnover of Rs 69,811 crore in 2021. India at present accounts for approximately 5% of global revenues. Separately, Gustafon told the media that there may be challenges in the global supply chain due to the battle between Russia and Ukraine. Image Source Also read: Auto PLI attracts investment of Rs 74,850 cr for five years

Next Story
Infrastructure Urban

Coal Ministry Achieves Milestones under Special Campaign 5.0

The Ministry of Coal and its Public Sector Undertakings (PSUs) have achieved notable milestones under the Special Campaign 5.0, focusing on cleanliness, operational efficiency, and sustainability across the coal sector. During the implementation phase from 2–31 October 2025, over 1,205 sites were cleaned, covering 68,04,087 sq ft, nearing the target of 82,51,511 sq ft. Scrap disposal of 5,813 MT against a target of 8,678 MT generated Rs 228.7 million in revenue. In addition, 1,11,248 physical and 30,331 electronic files were reviewed, with 74,123 weeded out or closed. Key initiatives showc..

Next Story
Infrastructure Energy

Vesting Orders Issued for Three Coal Blocks under Commercial Auctions

The Ministry of Coal’s Nominated Authority has issued vesting orders for three coal blocks under commercial coal block auctions on 23 October 2025. The Coal Mine Development and Production Agreements (CMDPAs) for these mines were earlier signed on 21 August 2025. The three blocks include Rajgamar Dipside (Deavnara), Tangardihi North, and Mahuagarhi. Of these, two are partially explored while one is fully explored, with a combined peak rated capacity of around 1 MTPA and geological reserves of approximately 1,484.41 million tonnes. These mines are expected to generate annual revenue of abou..

Next Story
Infrastructure Urban

TEC, IIT-Hyderabad Partner to Boost 6G and Telecom Standards

The Telecommunication Engineering Centre (TEC), technical arm of the Department of Telecommunications (DoT), has signed a Memorandum of Understanding (MoU) with the Indian Institute of Technology Hyderabad (IIT Hyderabad) for joint research and technical collaboration in advanced telecom technologies and standardisation. The partnership focuses on developing India-specific standards and test frameworks for next-generation networks, including 6G, Artificial Intelligence (AI), and Non-Terrestrial Networks (NTNs). It also aims to enhance India’s participation in international standardisation f..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?