Dublin-based Magnet Networks which deals in IoT solutions is now expanding to India. Isha Saraf, Regional VP South East Asia and India, will be heading Magnet's business in India. In addition to Ireland, the company has offices in London, United States, Australia, Singapore.
By locating in India, Magnet Networks is able to provide ‘in-country' technical and support services to its largest global clients. Since 2016, along with providing connectivity solutions throughout Europe, US and India for some of the world's largest brands, Magnet Networks have provided professional services to many organizations and government agencies seeking to understand, develop and deliver on a Smart City projects, said the company.
“Indian market's success is fundamental to Magnet Networks global growth strategy and with support from organizations such as Enterprise Ireland and key partners such as TATA, we believe Magnet Networks India will be one of the Irish success stories that will be talked about for some time,” stated Magnet Networks Group CEO Mark Kellett.
“Having a presence in Mumbai allows us to service both our Indian clients and our local multinational clients more effectively. This is an exciting time for Magnet Networks as we continue to expand globally, and we look forward to seeing the potential of the Indian market unfold,” he said.
The Government of India's policy think-tank, the National Institution for Transforming India (NITI Aayog), predicts that the urbanization rate in India would increase to over 60% in the next 30 years, assuming the rate of economic growth at 7%-9%. With such market potential and experience gained from projects within Europe – in particular, working on one of Europe's largest Smart City developments ‘Wembley Park', London – Magnet Networks has substantially increased its investment to grow in the Asian market by establishing a permanent commercial and sales presence in Mumbai and Pune.
Director, India & South Asia – Enterprise Ireland, David Flood, said “Enterprise Ireland is delighted to support Magnet Networks as they expand their award winning business in India. The Irish Government is supporting companies that put innovation first and Magnet is a company that is both innovative and one that is thinking globally. We call that the ‘Irish Advantage' and it's going to bring benefits to all of Magnet's partners in India.”