UK-based manufacturer of cables and connectors PEI-Genesis has opened a new office in Bangalore, India.
The new office will enable PEI-Genesis to better serve and expand its client network in India. The company established its presence in the Asia-Pacific (APAC) region in 2015 and now has more than 30 Sales Trusted Advisors in 12 countries: Australia, China, Hong Kong, India, Indonesia, Japan, Malaysia, Singapore, South Korea, Taiwan, Thailand and Vietnam.
“Our decision to open a sales office in Bangalore aligns with our long-term growth strategy and represents our commitment to providing exceptional sales service,” Alex Tsui, vice-president and managing director of APAC at PEI-Genesis, said on Thursday. “We are excited about the opportunities this expansion brings and are confident that the new sales office will enable us to further accelerate our business growth in India.”
The Indian state of Karnataka has seen a recent surge in foreign direct investment (FDI) projects in the manufacturing sector. According to the GlobalData FDI Database, in 2023, the region recorded 23 greenfield investments, up from 13 a year before and just eight in 2021. However, the number of newly announced FDI projects is still below pre-pandemic levels – in 2019 alone, Karnataka registered 26 FDI manufacturing projects.
Overall, India is quickly becoming an attractive FDI destination for investors looking to step away from China but continue to maintain a business footprint in the APAC region. In 2022, the country ranked as the third-largest investment destination, surpassing China in terms of FDI projects.
“India is a growth market for us, and we are dedicated to providing the best support and services to our customers in India,” added Steven Fisher, PEI-Genesis CEO.
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