Philips looks to expand in India and beyond

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Royal Philips Electronics is looking at mergers and acquisitions in India and abroad in conjunction with plans to register an overall growth of 17 to 18 percent by 2010, according to Murali Sivaraman, CEO of Philips Electronics India, which is a subsidiary of Royal Philips Electronics.

Sivaraman said the company plans to concentrate on the emerging markets of India, Latin America and China with its medical equipment and consumer electronics.

"We expect a 30 to 40 percent growth from the proposed acquisitions," Sivaraman noted.

Sivaraman also added that the company's medical equipment division is likely to register a growth of 15 to 20 percent and will double in the next two years.