Advantech sets up shop in New Delhi for South Asian strategy

Advantech Co., Ltd. announced the formation of its new office in New Delhi, making the total number offices headquartered in India to four, a move to cement its presence in the world's sixth largest economy.

The firm has already set up offices in southern India's Bangalore, western India's Pune and Ahmedabad.

India is currently ranked the world's sixth largest economy and boasts the world's second largest population. The industry leader has pointed to the country's ambition, as laid out by India's Prime Minister Narendra Modi, to see double growth of their economy growth by 2025, as a lucrative incentive. Having become a US$5 trillion economy and the fastest growing economy out of the four BRIC countries, the International Monetary Fund (IMF) offered a forecast that India could easily become the fastest growing economy this year, estimating that the country's GDP growth could reach 7.4%.

IMF also suggested that India could quickly break away from the U.S. and China's shadows and become the world's largest economy in 2050.

Advantech Executive Director of Board Chaney Ho said their firm had already set its eyes on turning India into its most important strategic location in South Asia, having begun their investment into the country in 2002 by setting up their headquarters there in Bangalore, coined as “India's Silicon Valley.” The firm opened its first local factory in 2012, enabling them to be certified under the “Make in India” policy. Such measures that the firm had undertaken, as well as their localization approach, has blessed Advantech with double-digit growth in the past years, with 2018 seeing a record high.

Advantech Embedded IoT President Miller Chang said aside from the cities where they have based offices in, the firm is also looking at Kolkata in eastern India as well. They were able to complete their strategy blueprint in India through joining forces with Taiwan External Trade Development Council, allowing Advantech to hold fort in northern India in New Delhi as well.

The firm has invested years of resources into understanding India's complex language, cultures and ethnic groups, enabling them to gradually earn the trust for mutual beneficial partnerships with local clients.

Advantech will be targeting India's industrial Internet of Things, but also expand its reach into steel plants, power plants, mining and automotive industries, helping clients develop a smart manufacturing system to tap into, as well as accelerate the development of smart cities through teaming up with local companies to develop IoT solutions and cloud-based services and applications.