Honeywell, a global leader in industrial technology, is bullish on the Indian market and sees growth opportunities across segments such as infrastructure development, energy transition projects, automation, and more. The company is also looking for potential acquisitions in India to expand its presence and offerings in the country.
Honeywell’s mission to drive sustainability
Honeywell has emerged as a major international player in energy and climate transition solutions and counts sustainability as one of its key focus areas in India. The company has a business of around USD 1 billion in India, which includes the sales generated from the Indian market and excludes export services.
Honeywell’s mission is to help customers reduce their carbon footprint and achieve their environmental, social, and governance (ESG) goals. The company has developed innovative technologies and solutions that enable the production and use of renewable fuels, such as sustainable aviation fuel (SAF), biodiesel, and hydrogen.
Honeywell is one of the global leaders in sustainable fuel technologies, with more than 36 units worldwide using its Ecofining technology that can convert bio-based feedstock, such as vegetable oil, agricultural waste, etc., into renewable fuels, including SAF. The company is optimistic about India’s potential in this area and is in talks with a number of companies in the country for SAF partnerships, among others.
Honeywell’s focus on India-centric solutions
Honeywell understands that India has its own unique challenges and opportunities when it comes to energy transition and sustainability. The company is focused on developing and offering solutions that are tailored to the Indian context and leverage the country’s strengths and resources.
For example, Honeywell believes that India should focus on using agricultural waste as a feedstock for converting into renewable fuels, rather than food-based inputs, as it would not disrupt the food chain and would also address the problem of crop burning. The company has the technology to manufacture ethanol from agricultural waste, which can then be used for blending with petrol, manufacturing SAF, or even converting to biodiesel.
Honeywell is also working on industrial automation solutions that can help customers optimize their operations, reduce energy consumption, and improve safety and efficiency. The company is excited about the rollout of 5G networks in India, as it will enable the deployment of sensors across large plants and facilities to collect data and provide insights that can prevent accidents, losses, or downtime.
Honeywell’s growth prospects and plans in India
Honeywell is bullish on the Indian market and sees it as a brighter spot in the global economic landscape, based on the GDP data and projections from experts. The company expects to see significant growth in India driven by the industry-wide shift towards digitalisation and sustainability.
Honeywell is also looking for opportunities to expand its presence and offerings in India through organic and inorganic means. The company is open to acquisitions in India that can complement its existing portfolio and capabilities, especially in the areas of energy transition, automation, and software.
Honeywell has a strong presence in India, with around 14,000 employees and eight manufacturing facilities. The company also has a large engineering and R&D workforce in India, which develops solutions for India and the global market. Honeywell recently announced that it will be setting up a sustainability centre of excellence in Madurai in the January-March 2023 quarter, which will focus on developing and showcasing its green transition solutions.
Honeywell is confident that India has the opportunity to become a new energy hub, with its abundant resources, talent, and ambition. The company is committed to supporting India’s vision of becoming a sustainable, self-reliant, and prosperous nation.
