India remains one of Honeywell’s fastest-growing markets, and the company is targeting double-digit growth with $1 billion in domestic revenue this year. Chairman and CEO Vimal Kapur expects strong performance across key segments such as aerospace, energy, and infrastructure, which align closely with the country’s needs.

The significant increase in investments in infrastructure, hospitals, data centres, and energy, are boosting demand for the company’s automation and energy solutions.

In an interview with CNBC-TV18 at the World Economic Forum (WEF) in Davos, Kapur said, “Our investment in energy sector is growing even more; in electronic segment new investments are coming. We absolutely see rate of change has grown more compared to what it was and I don’t see any reason why companies like us should not grow double digit here for next several years.”

This multinational conglomerate corporation expects 2025 to be slightly better, with a positive outlook supported by improving economic indicators like GDP and inflation.Read Here | WEF 2025 | Human role will stay important despite AI growth: Tech Mahindra CEO

Kapur also pointed out a shift in client spending towards AI and data centers in the US and a focus on electronics and semiconductor manufacturing in India.

“So the themes change where you go, but overall basis, I remain optimistic that world is going to spend more money in 2025 versus 2024,” he added.

The company sees potential in sourcing complex mechanical components from India, especially for the aerospace industry. Over the last two years, the “Made in India” initiative has proven successful, and India is now viewed as a serious option for sourcing.

This involves focusing on more complicated mechanical components used in their products, which is seen as the next step for companies like Honeywell.

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