With India being the fastest growing large economy, ‘what is your India plan?’ is a common topic in boardrooms of most global corporations. One important source to distil their India plans is from their quarterly earnings calls. With the March quarter earnings season in progress, this column will present what CXOs of global corporations are saying about India, along with their perspectives and plans during the current earnings season. Here are some from companies that reported their earnings last week.

Siemens Aktiengesellschaft (SIE, m-cap €210.25 billion)

The German industrial giant highlighted India as a key manufacturing and engineering hub for its global rail operations.

“We have ramped up production of components, bogies and drive systems in India, with the first locally-manufactured locomotives already in operation. India now provides Siemens with strong supply-chain visibility and a globally-scalable manufacturing base.”

Eutelsat Communications S.A. (ETL, €3.56 billion)

The satellite communications provider is expanding its India-linked maritime connectivity business while awaiting regulatory approvals for broader broadband services.

“Eutelsat signed an expanded multi-year agreement with India’s Station Satcom to scale LEO connectivity services for maritime customers. While broader broadband approvals are still pending in India, the company continues to grow its India-related business activities.”

CIE Automotive, S.A. (CIE, €3.43 billion)

The Spanish auto components maker said India continues to stand out as one of the strongest global automotive growth markets.

“India’s automotive market is showing broad-based structural growth, with passenger vehicles up 9 per cent, two-wheelers over 20 per cent, tractors above 30 per cent and trucks over 25 per cent. Despite high acquisition valuations, we continue to see strong long-term growth opportunities in the market.”

ICL Group (ICL, ILS24.25 billion)

The specialty minerals and agricultural solutions company expanded its India operations with a new specialty water-soluble fertilizer manufacturing facility.

“ICL opened its first specialty fertilizer production facility in India with 30,000 metric tonnes of annual capacity, strengthening local manufacturing capabilities, supporting growing market demand and improving supply chain resilience.”

Cambi ASA (CAMBI, Nkr3.38 billion)

The Norwegian wastewater treatment technology company highlighted India as a key manufacturing and infrastructure growth market for its future competitiveness.

“India is essential to maintaining cost competitiveness, while wastewater infrastructure opportunities are expanding beyond Mumbai into additional cities. The Mumbai plants will be critical in supporting future growth in the country”

Gilat Satellite Networks (GILT, $1.22 billion)

The satellite communications technology company identified India as a major growth market within its Asia-Pacific expansion strategy through a new partnership with Nelco.

“Gilat announced a multi-million-dollar partnership in India to deploy SkyEdge IV for the country’s first Ka-band service rollout using the JSAT-N2 HTS satellite. India is a central growth market, with the deployment supporting high-performance connectivity across aviation, cellular backhaul and enterprise services.”

Published on May 16, 2026