Russia’s Sistema group to enter Indian electronics sectorMarch 27th, 2009 - 7:43 pm ICT by IANS
By Pupul Dutta
Chennai, March 27 (IANS) Sistema Corp, a diversified Russian industrial group with interests ranging from telecom and real estate to pharmaceutical and defence equipment, will enter the Indian electronics market through its subsidiary JSC Sitronics, a senior company official has said.
“Sitronics is looking to participate in the Indian market. We are opening an office in New Delhi,” Sistema senior vice-president and head of external relations Sergey Cheremin told reporters here Thursday.
Sitronics boasts of more than 3,500 customers in more than 62 countries and offices and subsidiaries in 32 countries.
The company carries out different research activities in different countries: microelectronics in Russia, telecommunications in Greece and the Czech Republic, and information technologies in Ukraine.
According to Cheremin, the Russian group - a large player in medical clinics space - is also mulling to set up operations here so as to take advantage of the booming medical tourism in India.
Cheremin said the group planned to set up a pharmaceutical plant in Russia, and look at partnering with Indian drug companies, apart from venturing into the Indian travel business.
In India, Sistema is present in the mobile telecom segment through is 74 percent stake in Sistema Shyam Teleservices that has plans to roll out services across the country.
Tags: defence equipment, electronics market, indian electronics, indian travel, industrial group, information technologies, jsc, medical clinics, medical tourism, microelectronics, mobile telecom, New Delhi, percent stake, pharmaceutical plant, russian group, senior vice president, sitronics, teleservices, tourism in india, travel business