With India being the fastest growing large economy, ‘what is your India plan?’ is a common topic in boardrooms of most global corporations. One important source to distil their India plans is from their quarterly earnings calls. With the December quarter earnings season in progress, this column will present what CXOs of global corporations are saying about India, along with their perspectives and plans during the current earnings season. Here are some from companies that reported their earnings last week.
Amazon.com, Inc. (AMZN, $2380.1 billion)
The e-commerce giant said India is responding strongly to its rapid expansion in quick commerce.
“In India, customer response to Amazon Now exceeded our expectations, with Prime members tripling their shopping frequency after adopting quick commerce. India is the fastest market where we’ve rolled out this service.”
Linde plc (LIN, $214.7 billion)
The industrial gases company said India delivered strong growth, with improving conditions across most end-markets.
“India continues to grow strongly, with nearly all end-markets improving. Expected progress on free trade agreements and tariff resolution should further support manufacturing activity and industrial growth in the coming years.”
Intercontinental Exchange, Inc. (ICE, $95.6 billion)
The exchange operator highlighted India as a significant opportunity amid shifting global crude trade flows.
“India’s trade deal could reduce imports of Russian crude, increasing demand for Middle Eastern and US grades priced off Brent. This creates a strong opportunity for our Brent benchmark and our HOU contract linked to US exports to India.”
ArcelorMittal S.A. (MT, $43.9 billion)
The global steelmaker said India remains one of its most attractive growth markets, supported by strong demand and expanding capacity.
“India continues to grow at 6-8 per cent and remains a profitable market for steel. We are expanding our Hazira facility toward 15 million tonnes and are actively working on a new greenfield project on the eastern coast to support long-term growth.”
Cognizant Technology Solutions Corporation (CTSH, $36.8 billion)
The IT services firm highlighted India as central to its talent strategy and long-term growth plans.
“We added over 16,000 associates in India in 2025 and plan to hire around 20,000 more in 2026. We also continue to evaluate a potential primary offering and secondary listing in India as part of our long-term strategy.”
Aptiv PLC (APTV, $17.3 billion)
The automotive technology supplier is expanding its engineering and manufacturing footprint in India as the market drives strong new business momentum.
“We opened a new engineering technical centre in Chennai to support our growing software and services business. New business bookings in India increased significantly to over $800 million, driven by multiple EV and vehicle platform launches.”
Match Group, Inc. (MTCH, $7.2 billion)
The online dating company said India has emerged as a fast-growing market for its Hinge app.
“Hinge has built a meaningful organic presence in India with over one million monthly active users in 2025, growing 40 per cent year-over-year without marketing spend.”
Power Integrations, Inc. (POWI, $2.6 billion)
The US power semiconductor company said India is a key driver of growth across rail, power grid and smart metering applications.
“We had double-digit growth, driven by electric rail and power grid projects in India. Our strong position in locomotives and smart meters, along with growing adoption of high-voltage GaN products, is supporting continued growth in the market.”
ASGN Incorporated (ASGN, $2.3 billion)
The US IT services and staffing firm said its Quinnox acquisition significantly strengthens its India delivery capabilities.
“Quinnox expands our global capability centres in India, enhancing our ability to scale resources and accelerate revenue synergies as clients increase demand for delivery from India.”
Carlsberg A/S (CARL, €17.4 billion)
The Danish brewer reported another strong year in India and said it is evaluating strategic options for the business.
“India delivered high single-digit volume growth following a strong finish to the year. We are exploring options to increase shareholder value, which may include a potential IPO of our India business.”
Akzo Nobel N.V. (AKZA, €10.3 billion)
The Dutch coatings major highlighted value creation from its India portfolio actions while retaining exposure to high-margin segments.
“We completed the sale of Akzo Nobel India at an attractive 25x EBITDA multiple, generating around €900 million in proceeds. At the same time, we retained full ownership of our Powder Coatings business in India and secured a recurring royalty stream.”
Melexis NV (MELE, €2.2 billion)
The Belgian semiconductor company said India is a key focus market, delivering strong double-digit growth across automotive and alternative mobility applications.
“We are increasing our efforts in India, where we enjoy strong double-digit growth. We are finalising the set-up of a Melexis entity in India to better serve customers locally and support further expansion in this fast-growing market.”
Rockwool A/S (ROCK-A, Dkr 46.0 billion)
The Danish insulation maker said India remains a key growth market, with demand exceeding current capacity.
“Our India business continues to grow despite factories being in a sold-out situation. We plan to invest in additional capacity in India as part of our major 2026 expansion program.”
Published on February 7, 2026
