New Delhi, Feb 2: German engineering major Siemens has announced that it will be adding 8,000 jobs in India by 2012, besides investing 346 million dollars in the country over the next three years.
On Tuesday, Feb 2, Europe's biggest engineering group said that it would mostly to make wind turbines to gain from the expanding market for renewable energy.
The company has, however, clarified that its decision to increase its head count in India was not taken with an intention of shifting production to low-cost countries.
"Not at all. It doesn't mean that," Chief Executive Peter Loescher told reporters here.
"It means exactly the opposite. We're taking advantage of the Indian growth opportunity, we're adding specifically tailored products," he added.
Loescher was in the capital as part of a delegation with visiting German President Horst Kohler.
Earlier, Siemen's had decided to axe 2,000 jobs in Germany apart from mulling reductions in other locations as well. The company had said that it would thread cautiously before taking the production to peaks of 2007-08 before the global economic slump hit the markets.
Loescher refused to comment on the job cuts in Germany.