PTC's Expansion in India: A Strategic Move Amid Automotive Industry Challenges

Neil Barua, CEO of software company PTC, emphasizes India's strategic importance for the company despite challenges in the automotive industry. During his visit, Barua highlights PTC's role in the development of software-defined vehicles and stresses the importance of India in supporting the global economy.

Neil Barua, recently appointed CEO of global software firm PTC, has affirmed India's strategic importance despite current challenges in the automotive sector. Barua's visit marks his first trip to India since taking over as CEO in February.

During his tour, which included stops in Bengaluru, Pune, Chennai, and Gurgaon, Barua highlighted PTC's growth from an R&D centre in Pune to a major player in the automotive industry's shift towards software-defined vehicles. He stressed the significant future role India will play in the global economy.

The strategy for PTC in India focuses on key verticals like aerospace and defense, aiming for depth in offerings rather than rapid expansion. Barua praised India's openness to global collaboration, contrasting it with China's more isolated stance, and emphasized the importance of educational advancements in fostering global connections.

(With inputs from agencies.)