Honeywell eyes $1 bn in Indian revenues by 2010

BANGALORE: Technology company Honeywell, which has a significant presence in India, is aiming to hit the revenue target of $500 million in India in a year's time and $1 billion by 2010.

Announcing this at the company's technology showcase event here today, Ash Gupta, country manager and MD, Honeywell India said that the around 20 percent of the $ 1 billion revenues in 2010 would come through exports.

Honeywell's current revenues in India are around $300 million. The company, which has four business entities in India including Honeywell Turbo Technologies, Honeywell International, Honeywell Automation and Honeywell Technology solutions lab, together employ over 6500 people in India. Honeywell's largest lab for automation solutions employing over 800 engineers is also in India.

The company provides solutions in mission critical control technologies, safety and security, micro and nano scale technologies and green technologies. In India, Honeywell's products and solutions have been implemented in Electronic Voting machines, hotels, hospitals, Euro III compliant vehicle engines, NTPC, Reserve Bank of India, the National Stock Exchange and the Bombay Stock Exchange.

Honeywell plans to introduce five applications for Tata Motors next year. The company's automation business, which is seeing good growth clocked $120 million in revenues last fiscal.

Besides the main research center in Bangalore, Honeywell has two centers in Madurai and in Pune. As part of Honeywell's global acquisitions of specialty materials company UOV and NOVAR, the company has taken over the capabilities in India as well.