Philips targets 20 pc growth in India in five years

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Philips targets 20 pc growth in India in five yearsMar 27 (PTI) Mobor (Goa), Dutch diversified consumer electronics and healthcare products firm Philips is looking at growing around 20 per cent in India over the next five years as part of a global aim to get 40 per cent of its revenues from emerging markets.

The company’s Indian arm, Philips Electronics India, had clocked a sales growth of 20 per cent in 2010, while its parent posted growth of 10 per cent with a total global revenue of 25.4 billion euros.

“Yes, we need to be growing fast in India than the firm’s overall global growth in the coming years to achieve the global targets,” Philips India Vice Chairman and Managing Director, Senior Vice President Indian Subcontinent Rajeev Chopra told PTI.

While he declined to comment on how the contribution from India in the global sales would be like by 2015, Chopra said it would be significant.

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