UFI Filters Doubles Down on India Investment Plans
UFI Filters, an Italian leader in filtration technology and thermal management, plans to significantly increase its investments in India. Chairman Giorgio Girondi confirmed the expansion strategy, citing strong performance in the Indian market, where current revenues hover around 50 million Euros.
- Country:
- Italy
In a bold move to consolidate its presence in the Indian market, Italian filtration and thermal management giant UFI Filters is set to double its investments in the country. Chairman Giorgio Girondi revealed this strategic plan during a meeting with reporters on Wednesday, amid discussions with Commerce and Industry Minister Piyush Goyal.
The announcement comes as Goyal embarks on a two-day visit aimed at fostering trade and investment ties between India and Italy. UFI Filters CEO Stefano Gava disclosed that the current revenues from the Indian operations are approximately 50 million euros, supported by investments in the range of 25-30 million euros.
UFI Filters serves diverse sectors, from automotive and aerospace to marine and custom industrial applications, hinting at vast growth potential that the company seeks to capitalize on in the thriving Indian market.
(With inputs from agencies.)
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