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 December 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.

Haleon plc (HLN, $47.4 billion)

The consumer health major reported strong momentum in India driven by distribution expansion and execution.

“India delivered double-digit growth, supported by expanded distribution and excellent in-market execution. The performance also benefited from macro changes, including GST.”

First Solar, Inc. (FSLR, $21.5 billion)

The solar module manufacturer emphasised strong domestic demand in India.

“India production of around 3 gigawatts this year is expected to be sold into the domestic market. Demand remains strong, with a solid Q4 and continued momentum into Q1.”

Allison Transmission Holdings, Inc. (ALSN, $10.3 billion)

The commercial vehicle transmission manufacturer highlighted expanding defence and manufacturing investments in India.

“We signed an MoU with Armoured Vehicles Nigam to establish a maintenance, repair and overhaul centre in India for Allison cross-drive transmission programs. With four manufacturing plants and around 4,000 employees in India, we see significant opportunity across multiple sectors.”

Payoneer Global Inc. (PAYO, $1.5 billion)

The cross-border payments platform outlined product and infrastructure expansion in India.

“We plan to expand product offerings in India following our in-principle license authorisation. We’ve opened a new tech hub in Gurugram and are expanding our operations and compliance hub in Bengaluru.”

Sandoz Group AG (SDZ, CHF 30.3 billion)

The generics and biosimilars company discussed evolving pricing dynamics and strong early demand in India.

“Minimum import prices in India for certain penicillin APIs may redirect low-priced supply toward Europe. From an India perspective, the key question is patient willingness to pay and volume elasticity. Demand is running significantly higher than the originator’s historical sales, particularly as price-points adjust.”

Bonesupport Holding AB (publ) (BONEX, Skr12.9 billion)

The orthobiologics company identified India as a large long-term healthcare opportunity.

“India is strategically attractive given its large population and growing willingness to pay for advanced care. We are nearing launch, targeting entry in the first half of 2026 despite a complex regulatory process.”

Schneider Electric S.E. (SU, €153.4 billion)

The energy management and automation leader expanded its India manufacturing and AI-linked capacity.

“We completed the acquisition of Lauritz Knudsen, strengthening India as a hub for international markets. India grew double-digit, and we are investing in a new liquid cooling factory to support rising AI data centre demand.”

Glanbia plc (GLB, €4.2 billion)

The nutrition company highlighted strong online growth and manufacturing expansion in India.

“We’ve seen strong growth through online and quick-commerce channels in India. Following the acquisition of Scicore, we now have in-market manufacturing supporting both Performance Nutrition and Health & Nutrition, strengthening our local scale.”

SEB SA (SK, €2.9 billion)

The small domestic appliances group acknowledged India as a long-term opportunity but not an immediate priority.

“We are almost inexistent in India today. While India represents a future opportunity, it is not part of our three-fiive-year roadmap. Our focus remains on strengthening and innovating within our existing core geographies.”

Published on February 28, 2026