French firm Socomec to invest $10M in a new Indian manufacturing plant. Targeting data centers, EVs & renewables to boost local production to 70%.
In a strong endorsement of India’s industrial growth Socomec a leading French power solutions company has announced plans to invest between USD 7 to 10 million to establish a new manufacturing facility in the country. This strategic expansion comes as the company’s two existing factories in Gurugram are operating at full capacity.
To optimize costs, the company is likely to lease the new facility rather than purchase land minimizing upfront investment. Potential locations in southern and western India are currently being evaluated, with a focus on states that offer a conducive regulatory environment and ease of doing business.
Riding a Wave of Strong Growth
The investment is driven by Socomec’s remarkable performance in the Indian market. The company’s Indian operations have been growing at an impressive rate of over 20 percent annually, with revenues projected to cross ₹1,000 crore this fiscal year.
A key focus of this expansion is to deepen its commitment to the Indian government’s ‘Make in India’ initiative. Currently, about 50 percent of its local sales are met through domestic production. With the new plant, Socomec aims to increase this proportion to 70 percent, strengthening supply chain resilience and reducing dependency on imports.
Targeting High-Growth Sectors
Socomec’s expansion is strategically aligned with India’s infrastructure boom. The company specializes in critical power solutions, including:
- Power Conversion
- Switching and Monitoring
- Backup Power Services
These products are essential for several high-demand sectors, which form the core of Socomec’s growth strategy in India:
- Data Centers
- Healthcare
- Renewable Energy
- Industry & Manufacturing
- EV Charging Infrastructure
The company is already a market leader in India’s solar DC switchgear segment, holding a 55% market share. It also identifies significant growth potential in Battery Energy Storage Systems (BESS), a critical technology for supporting India’s renewable energy expansion and stabilizing the power grid for electric vehicle charging networks.
This new facility will not only help Socomec meet rising domestic demand but also solidify its position as a key enabler of India’s clean energy and digital transformation.
