Japanese group says its Indian auto, pharma and textile markets expand 8%/annually
Mitsubishi Electric Corporation (TOKYO: 6503) is investing Rs.2.2 billion (Yen3.1 billion) in a new facility in Pune to manufacture inverters and other factory automation (FA) control system products, expanding the company’s capabilities to meet the growing demand in India.
The rapidly growing Indian market is expanding at an annual rate of about 8%, mainly in industries such as automobiles, food & beverage, pharmaceuticals, data centers and textiles, with further market expansion expected in the future, Mitsubishi said in a release on 7 June 2022.
The Pune factory, by subsidiary Mitsubishi Electric India Pvt Ltd, is to be operational by December 2023, is for development, manufacture, sales and after-sales service of FA control system products.
It will also offer sales and after-sales services for air conditioners, semiconductors as well as manufacture, sales and after-sales service of electrical products for railway vehicles.
The new two-floor, 15,400 square-meter factory will be built on 40,000 square meters of land near Pune, expanding production capabilities to meet local demand for products.
In addition, the new factory will incorporate various features aiming to achieve carbon neutrality by reducing carbon dioxide emissions through the use of highly efficient air conditioning systems and LED lighting equipment, and meet sustainable development goals (SDGs) by reusing wastewater through underground filtration treatment and greening.
Mitsubishi Electric’s FA control systems business in India began in the mid-1990s, and since acquiring a local manufacturer of FA control systems in 2012, the company has continued to strengthen its local business structure by establishing a local engineering team, expanding service and support capabilities. In 2013, it started local manufacturing of products.
Headquartered in Gurugram, Mitsubishi Electric India is led by Managing Director Kazuhiko Tamura. fiinews.com
