Honeywell expects its India operations to surpass $1 billion in revenue by 2025, rising from the current $900 million, driven by strong growth fueled by the integration of 5G, cloud computing, and artificial intelligence.
“India provides an opportunity to grow at double digits over the next several years for companies like us. It’s one of our fastest-growing markets globally. We plan to be a $1-billion company in 2025,” said Ashish Modi, president of Honeywell India.
Honeywell has maintained a presence in India for over 90 years, starting in the 1930s by licensing technology for the country’s first refinery in Digboi, Assam. Over the decades, the company has played a vital role in various national initiatives, including its contributions to India’s 100 Smart Cities project.
Modi stated that Honeywell’s operations in India now align with three major megatrends: automation, aviation, and the energy transition. The company provides a diverse portfolio of products and services spanning aerospace, industrial and building automation, and energy systems.
He also mentioned a recent development from the company. “We recently announced what we call the airport ground lighting system,” he said, without providing further details.
Honeywell’s deep-rooted presence in India, combined with its alignment to transformative megatrends such as automation, aviation, and energy transition, positions it strongly for sustained double-digit growth. Planning to surpass $1 billion in revenue by 2025, the company aims to drive India’s technological and infrastructure advancements, further solidifying its legacy in the region.
