JAPAN'S OMRON TO OPEN ITS FIRST MEDICAL DEVICE FACTORY IN INDIA IN TAMIL NADU: REPORT

Japan’s electrical equipment company, Omron, will reportedly open its first medical device factory in India in Tamil Nadu. This comes after Tamil Nadu signed Memorandums of Understanding (MoUs) with six Japanese companies for Rs 820 crore on Monday. 

According to a report in Reuters that quoted people in the know, Omron will make devices including blood pressure monitors and will invest nearly $15.7 million to set up the plant. The company is yet to issue a comment on the same. 

The Japanese company that makes equipment ranging from blood pressure monitors to industrial switches will be the latest global company to enter Tamil Nadu that saw a spate of investments recently, including Hyundai Motor, Nike shoemaker Pou Chen, and Ola Electric. 

Omron had recently said that it would focus on ‘capturing demand in India’, where it expects sales of blood pressure monitors to soar in the coming years due to a change in lifestyle as well as the aging population. 

Meanwhile, the MoUs signed on Monday were between six Japanese companies and the state’s nodal agency for investment promotion, Guidance Tamil Nadu. CM MK Stalin signed the MoUs in Tokyo. 

An MoU was signed with KyoKuto Satrac for Rs 113.90 crore for the establishment of a 13-acre plant at Mambakkam, with Mistuba for Rs 155 crore to expand its plant at SIPCOT Gummidipoondi, with Kohyei for Rs 200 crore to build a  polycarbonate sheet manufacturing plant, with Sato Shoji Metal works for Rs 200 crore to set up a plant to manufacture high-quality steel components, with Tofle for Rs 150 crore to set up a stainless steel plant, and with Shimizu Corporation to promote construction, civil engineering and allied industries in Tamil Nadu.

Also read: Hyundai Motor to invest $2.45 bn in Tamil Nadu over 10 yrs; to install 100 EV charging stations

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2023-05-30T06:42:34Z dg43tfdfdgfd