Meenu Singhal is the regional managing director of Socomec India. Over the past three decades, he has held key positions in his previous roles in the industrial automation and electrical industry. He spent more than two decades at Rockwell Automation, where he was general manager, Services and Support (CSM), India. He also served as vice president and head of Global Industry Automation Distribution at Schneider Electric prior to joining Socomec.
“At Socomec we recognise the potential to support India’s power sector by providing innovative power management solutions,” Singhal says. “Leveraging our expertise in critical power applications and digital solutions, we aim to tackle challenges related to power availability, quality and energy efficiency, thereby facilitating sustainable growth in the sector.”
He says, “We have invested Euro 5 million in the Indian market to enhance manufacturing capacity to meet local demand and also export to the Sri Lankan and Bangladesh markets. Currently, 50 per cent of our products are localised in India, and we plan to raise this to 65 per cent within two years. Our revenue in India reached approximately Rs 5 billion in 2023, and we are set to sustain a compound annual growth rate of over 20 per cent for the next three years.”
According to Singhal, India’s power sector has undergone a notable shift towards renewable energy, particularly solar and wind power, driven by initiatives such as the National Solar Mission and the Green Energy Corridors initiative. Yet, challenges persist, including distribution losses, grid reliability issues, and limited electricity access in remote areas due to ageing infrastructure and underinvestment in transmission networks.
The energy sector has been facing several challenges, especially after the pandemic. “Geopolitical events have been disrupting the supply chain, but we have been able to mitigate that by using our products, powered by the government’s Make in India initiative. The government must drive this initiative more vigorously to reap better results for the economy and the nation,” he observes.
In terms of management style, Singhal believes in building meaningful relationships at work. He works collaboratively with his teams, and aims to provide customers with long-term solutions. “Socomec values talent and aims to foster a skilled workforce that aligns with our commitment to excellence and customer satisfaction. This ethos aligns with my approach as well,” he adds.