The company said cooperation between businesses in South Korea and India is strengthening following a recent summit between the two countries’ leaders, which it expects will help accelerate expansion. Global market research firms forecast India’s video security market will grow by more than 10% annually through 2029, it said.
Hanwha Vision said it recently obtained India’s cybersecurity-related STQC certification, a requirement for suppliers of security equipment in the country. STQC is issued by an agency under the Indian government.
After securing the certification, Hanwha Vision said it won a series of contracts in the first quarter (January-March) to build video security systems for major global companies in India across finance, retail and logistics. It said it expects additional orders from other industries.
To raise brand awareness and promote its technology, Hanwha Vision said it has been holding roadshows nationwide. It cited briefings for potential customers in Mumbai, Bengaluru and Delhi in January.
The company said many local business officials showed strong interest in products based on its in-house system-on-chip and Wisenet 9 platform, and that multiple deals were signed on site.
Hanwha Vision said it plans to significantly expand its product lineup and technical support staff in India. Starting in Bengaluru this year, it also plans to add more “HITE” technology experience centers where customers can try its latest technologies.
Other affiliates in the tech solutions unit are also moving into India. Hanwha Momentum said it secured multiple local projects related to secondary batteries and automation equipment, winning equipment supply contracts worth several tens of billions of won.
The tech solutions unit’s activity in India is expected to become more pronounced after Hanwha Group completes its planned split-off and the establishment of a new holding company, the company said. It said support from the new holding company, increased investment and synergies among affiliates could strengthen competitiveness in new markets, including India.
“As India emerges as a global technology hub, demand for video security is rising sharply,” a Hanwha Vision official said. “Based on our advanced technology and trust built in global markets, we will actively expand in India.”
* This article has been translated by AI.
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