With India being the fastest growing large economy, ‘what is your India plan?’ is a common topic in boardrooms of most global corporations. One important source to distil their India plans is from their quarterly earnings calls. This column will present what CXOs of global corporations are saying about India, along with their perspectives and plans during the current earnings season. With the September quarter earnings season in progress, here are some from companies that reported their earnings last week.

Toledo International Inc: (MTD, m-cap $34.4 billion)

The maker of precision weighing and analytical instruments for laboratories, industry and food retail sees India as a strong growth story in its own right, helped by China Plus One and near-shoring trends.

“But outside of China, all the China Plus One opportunities, near-shoring opportunities, India has a tremendous story in and of itself.”

CSX Corporation: (CSX, $96.6 billion)

The US freight railroad operator carrying coal, intermodal and merchandise cargo says India remains an important demand market for its exports through its terminals.

“The company’s strong export network, particularly across eastern markets, supported by access to four major terminals that facilitate exports to key international destinations. India continues to remain an important demand market, alongside other regions, with the company benefiting from its established distribution capabilities.”

Ball Corporation: (BALL, $17.2 billion)

The maker of recyclable aluminium beverage packaging calls India one of its most exciting growth markets, backed by a fresh investment in the country.

“India continues to be one of Ball’s most exciting growth markets, and this investment reflects our confidence in the country’s long-term economic potential and the continued growth of aluminum packaging.”

Flex Ltd: (FLEX, $28.9 billion)

The global electronics manufacturing and supply chain solutions provider is scaling up in India, with an additional facility in Chennai.

“expansion of operations in Chennai, India, through the establishment of an additional facility. Since its inception, it has scaled output by more than 30 times while maintaining strong quality standards and delivery performance, demonstrating its ability to significantly increase operational capacity without compromising execution.”

Bakkt, Inc: (BKKT, $0.2 billion)

The US digital asset platform, offering custody, trading and settlement, is building a presence in India’s financial services market through a brokerage platform expansion with Transchem.

“In India, Transchem is expanding its brokerage platform through acquisitions and partnerships. We expect the platform to serve more than 250,000 customers by the first half of 2027.”

Munters Group AB: (MTRS, €26.1 billion)

The maker of climate control and air treatment solutions, including data centre cooling, says a recent acquisition in India has brought it closer to customers in a fast-growing market.

“One example, one great example actually is that the recent acquisition that we’ve made in India. And it brought us capabilities closer to the customer. It’s very important markets and growing markets.”

Siemens Energy AG: (ENR, €112.4 billion)

The global energy technology company (gas turbines, grid technology and wind power) says India, along with Europe and other regions, makes up most of its addressable market.

“The opportunity is geographically broad. The US is a major growth market, but Europe, India and other regions together represent the majority of the addressable market.”

JOST Werke SE: (JST, €0.9 billion)

The maker of truck and trailer components such as fifth wheels, axles and coupling systems says India’s local market is growing and demand is up sharply.

“But in India, also the local market has been growing. The India demand is up sharply.”

Verbio SE: (VBK, €1.5 billion)

The German producer of biofuels, biogas and biomethane says India’s biogas market is taking off, with new plants planned alongside GAIL in a joint venture.

“We have still one plant in India, which is still the biggest plant. And together with GAIL in the joint venture, we are planning to build up to two new plants. So India is — the biogas market is taking off.”

FACC AG: (FACC, €0.6 billion)

An Austrian maker of aerospace composites and aircraft components is strengthening its manufacturing network in India with a second large Airbus work package.

“Our global manufacturing network is also further improving, especially in India. We have a second large Airbus work package agreed to move into India.”

Safilo Group S.p.A: (SFL, €1.0 billion)

An Italian eyewear maker (Carrera, BOSS and Fossil among its brands) says its business in India is recovering, with all three brands performing positively.

“Despite the continued challenges in West Asia, the positive trend was supported in particular by the ongoing recovery of our business in India, where Carrera, BOSS and Fossil all delivered positive performances.”

Published on November 14, 2026