Siemens Financial Services said it has obtained a non-banking financial company license from the Reserve Bank of India. Siemens noted that the expansion of its presence in the Indian market represents a significant milestone for SFS, and is expected to become a significant part in the company’s strategic growth plans.

The unit is globally aiming to strengthen its asset base over the medium terms, based on ambitions to become a leading player in its chosen markets and the vendor financing sector. This initiative will help empower Siemens customers in India, and clients of third party technology vendors, with comprehensive solutions in the energy, industry, infrastructure & cities and healthcare areas.

Roland W. Chalons-Browne, CEO of Siemens Financial Services said, “Financing becomes more and more important in this dynamic and challenging environment, where organizations are looking for access to efficient financing in order to grasp the huge growth opportunities even in difficult economic times. Our financing operations in India allow us to better align with the Siemens sectors. We provide a perfect combination of technologies and financing solutions to customers. We also strengthen our presence in key growth markets, including the financing of third party technology and sales.”

Sunil Kapoor, CEO for the SFS Commercial Finance business in India, said, “Financing plays an important role in speeding up decision-making, facilitating cash flows and helping bring innovative solutions to market faster. By having our own NBFC license and company, we are in a position to offer loans, leasing and other financial products from India as part of our offering to all sorts and sizes of organization, and as a result, we can provide essential support for Siemens and other B2B vendor financing requirements.”