Nagpur (Maharashtra) [India], July 6 : In a further boost to the Make in India initiative of the government, Nitin Gadkari Union Minister of Road and Transport inaugurated one of India's largest medical equipment and haematology reagent manufacturing unit by HORIBA India in Butibori, Nagpur on Saturday.
The facility is India's largest medical equipment and consumables (reagents) manufacturing unit by Japan-headquartered conglomerate HORIBA Group, which already has two manufacturing units in India, launched its third facility.
"The futuristic vision with a futuristic technology, India is the fastest growing economy in the World and that is the reason whatever new technology is available in world, we want to take it to India. India is appropriate land for development, the trained manpower and young talent is available here" said Gadkari during the inauguration event.
According to a statement by the company with an investment of Rs 200 crore, in a phased manner, the Nagpur facility is poised to serve over 30,000 diagnostic labs and hospitals across India.
Deputy Chief Minister of Maharashtra, Devendra Fadnavis also joined the inauguration event.
Fadnavis said "The medical devices sector is growing rapidly in India and also globally. India which was a net importer of medical devices is now a big exporter. Our entire export in the sector is touching around USD 10 billion with an annual growth rate of around 10 per cent. India is also becoming a medical tourism destination and now out of world's 27 medical tourism destinations, India is at tenth medical tourism destination"
During the inauguration the company stated that this manufacturing facility in Nagpur, covering 50,000 square meters, includes a medical equipment production unit for blood diagnostics, clinical chemistry equipment, and medical consumables (reagents).
It also houses the HORIBA India Technical Institute, offering biomedical learning programs through a partnership with Nagpur University, and the HORIBA Experience Zone, which showcases the full range of HORIBA healthcare equipment.
Additionally, the facility features an international training center and a central warehouse. The facility currently has 100 employees and is expected to increase to almost double in the next 5 years.
The company also added that this facility will serve as the export hub to neighbouring countries starting with the target of 50 per cent localization and later the company is looking at around 80-90 per cent of localization of products.
"The facility will play a crucial role in reducing turnaround time and minimizing costs by promoting local production, thus supporting the Government's initiative to enhance Make in India and Self-Reliance. It also aims to evolve into a one-stop solution for India, initially catering to the Bio & Healthcare segment, with future plans to expand into the Materials & Semiconductor and Energy & Environment sectors" said Jai Hakhu, Board of Directors, HORIBA Ltd., Japan and Chairman, HORIBA India.
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