Our India R&D team is poised to cross 1,000: AVEVA’s Rashesh Mody

Industrial software provider AVEVA which considers India as an innovation hub, on Monday, introduced its enterprise cloud platform, ‘Connect’, for the domestic market.

This platform offers a wide array of industrial Software-as-a-Service (SaaS) solutions designed to boost digital transformation for industrial operators, engineers, and IT enterprises. The company currently employs 950 R&D personnel in India and plans to increase this workforce by 5% annually.

Speaking to TechCircle on the sidelines of AVEVA Day India 2024 in Mumbai, Rashesh Mody, EVP of Business Strategy and Technology, said, “Our software supports various industries, including energy, mining, and pharmaceuticals, covering the full lifecycle of renewable energy — from design to operations. We provide tools for modelling solar and wind systems, performance management, forecasting, and IT integration.”

After French industrial giant Schneider Electric acquired AVEVA for $11 billion in January last year, it now owns nearly 60% of the company. While part of Schneider, AVEVA retains its business autonomy, continues R&D investment, and has expanded its solution portfolio. This partnership facilitates digital transformation, enhances efficiency, and sustains a reduction in energy consumption and carbon emissions, especially focusing on the Indian market. AVEVA serves over 20,000 customers worldwide and aims to be the largest SaaS provider as it transitions to a subscription-only model.

Mody highlighted India’s importance for AVEVA, especially with new offices opening in Hyderabad this year. He noted, “With over 16% of revenue dedicated to R&D, AVEVA operates 10 specialised centres globally, 43% of which are in India."

“The R&D workforce in India consists of 950, with 800 in Hyderabad and 150 in Bangalore, with plans for a 5% annual increase. The delivery teams focus on smart city and renewable solutions, bringing substantial industrial expertise to the global market,” he explained.

AVEVA's global client base includes big names like BASF, Starbucks, and Shell, alongside significant Indian firms such as TATA Power and Dr. Reddy’s Laboratories. In April, AVEVA partnered with Tech Mahindra to establish a Center of Excellence (CoE) in Pune, dedicated to developing industry-specific digital transformation solutions utilising Tech Mahindra’s process manufacturing knowledge and AVEVA’s software.

Mody outlined that AVEVA collaborates with strategic partners like Cognizant and is exploring partnerships with other major entities for innovative industrial solutions. The primary revenue-generating sectors in India are chemicals, power and energy, with pharmaceuticals following closely, along with infrastructure, including water management and smart cities.

Artificial Intelligence (AI) is integral to the company’s growth and innovation. Mody explained, “AI is embedded in our solutions for predictive analytics, enabling predictive maintenance. For example, if a wind turbine exhibits abnormal vibrations or temperatures, our system alerts users.”

He also noted that GenAI simplifies operations, especially regarding Internet of Things (IoT) integration, enhancing insights, and performance analytics, and requiring no programming, which is supported by a community of 5,000 systems integrators.

AVEVA is also engaged with multiple smart city initiatives in India, including those in Gangtok and Gandhinagar. Mody concluded the company’s commitment to long-term sustainability, offering solutions for carbon capture and responsible resource management while collaborating with Microsoft to ensure compliance with local regulations in Europe, India, and the US. “We are proactive in adhering to all standards,” he added.