Siemens Financial Services, which started its Indian operations in May this year, will focus on sectors like healthcare, infrastructure, energy and industry.
The non-banking financial company has been set up with an initial investment of $50 million from its parent company, Siemens AG.
Roland Chalons-Browne, CEO of Siemens Financial Services, said the commercial finance business would make it possible for Siemens to combine technology with financial solutions. Going ahead, the NBFC would also target financing third party products.
The initial investment should suffice for about a couple of years after which the company would look at other methods of raising resources, he added.
Sunil Kapoor, CEO, Siemens Financial Services India, said the company has presence in seven locations and has financed 50 clients in the healthcare space, so far. It would also look at machine tools and auto ancillary industries, he added.