![NEC has big plans for India, aims to double its revenue to $1 billion NEC has big plans for India, aims to double its revenue to $1 billion](https://varindia.com/storage/news/uploads/2018/02/5df4b4293be98.jpg)
NEC Corporation is planning to double its revenue to $1 billion within five years in India. This will be led by offshore support centers, smart city project, and 5G. The Japanese technology major also aims to hire 14,000 employees to support growth in India and the US, European and Asian countries. It is aiming to develop products and solutions around the safe city, logistics, healthcare, and digital ID in India not just for the Indian market, but for the Middle East and Africa.
“Right now, we are at $400 million and look forward to increasing to $1 billion in five years… India is one of the focus areas and a key strategic market,” said Takashi Niino, President and CEO, NEC Corporation.
On asked about the company’s performance over the last few years, Takashi said that NEC is going on the right path but needs to speed up. “We are expanding manpower to enable the growth journey,” he said.
The company is looking to utilize India as the hub for its offshore support and product development for global markets. Adding the manpower expansion will include research and development (R&D) expansion.
The company currently has 6000 employees in India.
NEC is also participating in the Aadhar project, according to Takashi and has provided its biometric and IRIS-based solutions. It has just bagged a contract from the Airport Authority of India to implement a biometric-based boarding platform across four airports in India by the end of 2020.
He believes that this is a kind of business model and it becomes necessary to promote these type of solutions in developing countries. It is also actively looking at forming alliances with IT companies and telcos for India’s smart city project, especially the safer city segment as it can't cover everything on its own and need partners.
NEC had last year established a research lab in Bangalore last year, and is now planning to double the headcount by the end of this year.
The company also plans to develop 5G use cases in collaboration with telecom operators and gear vendors in India. It has joined hands with Korea’s Samsung for 5G field trials in India.
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