Honeywell Technologies anticipates its revenue in India will surpass $1 billion in 2027 or shortly after, according to Chairman and CEO Vimal Kapur. Speaking with CNBC-TV18, Kapur noted that the company's typical growth rate of 15% could push it to hit the milestone next year, with a 20% growth rate accelerating the timeline. He highlighted that Honeywell's portfolio aligns well with India's economic priorities, including energy security, advanced manufacturing, and infrastructure development.
Kapur pointed to opportunities in battery manufacturing, semiconductors, solar panels, data centers, and artificial intelligence (AI) as key drivers of growth. The company's capabilities in energy infrastructure and automation are particularly well-suited to India's needs, he said. This growth target comes as Honeywell enters its first full year as a standalone automation company in 2027, following the separation of its aerospace business.
Honeywell has had a presence in India for nearly 90 years and established a Global Capability Centre (GCC) in the mid-1990s. The center now employs thousands of people across engineering, product development, and solutions development for Honeywell's global operations. Kapur emphasized that the company's India strategy is evolving beyond serving domestic demand to sourcing components and sub-assemblies from the country for its global manufacturing operations.
Kapur described Honeywell's restructuring as a long-term exercise aimed at creating value over the next 15 to 20 years. The separation allows the automation business to pursue different strategies and investment priorities. He noted that the company had a strong third quarter globally, with a backlog of $19 billion, and raised its fourth-quarter guidance. Kapur expressed optimism about 2027, provided economic conditions remain stable.