Nagpur (Maharashtra) [India], in a further boost to the government's Make in India initiative, Nitin Gadkari, Union Minister for Highways and Transport, inaugurated one of the largest hematology reagents and medical equipment manufacturing units in India through HORIBA India in Butibori, Nagpur, on Saturday.
The facility is India's largest medical equipment and consumables (reagents) manufacturing unit by Japan-based conglomerate HORIBA Group, which already has two manufacturing units in India and 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 why any new technology available in the world, we want to bring it to India. India is a suitable land for the development, trained manpower and young talents are available here," said Gadkari during the inauguration ceremony.
According to a company statement, with an investment of Rs 200 crore, the Nagpur facility is gradually set to serve over 30,000 diagnostic laboratories and hospitals across India.
Maharashtra Deputy Chief Minister 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 large exporter. Our total exports in the sector are reaching around 10 billion of dollars with an annual growth rate of approximately 10 percent is also becoming a medical tourism destination and now among the 27 medical tourism destinations in the world, India ranks 10th medical tourism destination."
During the inauguration, the company said that this manufacturing facility in Nagpur, spread over 50,000 square meters, includes a production unit for blood diagnostic medical equipment, clinical chemistry equipment and medical consumables (reagents).
It is also home to the HORIBA India Technical Institute, which offers biomedical learning programs through a partnership with Nagpur University, and the HORIBA Experience Zone, which showcases the full range of HORIBA healthcare equipment.
In addition, the facilities have an international training center and a central warehouse. The facility currently has 100 employees and is expected to nearly double over the next 5 years.
The company also added that this facility will serve as an export hub to neighboring countries starting with the target of 50 percent localization and then the company is looking at around 80-90 percent localization of products.
"The facility will play a crucial role in reducing turnaround time and minimizing costs by promoting local production, thereby supporting the Government's initiative to enhance Make in India and Self-Reliance. It also aims to evolve into a comprehensive solution for India, initially catering to the Bio and Health segment, with future plans to expand into the Materials & Semiconductors and Energy & Environment sectors," said Jai Hakhu, Board of Directors, HORIBA Ltd., Japan and President, HORIBA India.
The facility is India's largest medical equipment and consumables (reagents) manufacturing unit by Japan-based conglomerate HORIBA Group, which already has two manufacturing units in India and 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 why any new technology available in the world, we want to bring it to India. India is a suitable land for the development, trained manpower and young talents are available here," said Gadkari during the inauguration ceremony.
According to a company statement, with an investment of Rs 200 crore, the Nagpur facility is gradually set to serve over 30,000 diagnostic laboratories and hospitals across India.
Maharashtra Deputy Chief Minister 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 large exporter. Our total exports in the sector are reaching around 10 billion of dollars with an annual growth rate of approximately 10 percent is also becoming a medical tourism destination and now among the 27 medical tourism destinations in the world, India ranks 10th medical tourism destination."
During the inauguration, the company said that this manufacturing facility in Nagpur, spread over 50,000 square meters, includes a production unit for blood diagnostic medical equipment, clinical chemistry equipment and medical consumables (reagents).
It is also home to the HORIBA India Technical Institute, which offers biomedical learning programs through a partnership with Nagpur University, and the HORIBA Experience Zone, which showcases the full range of HORIBA healthcare equipment.
In addition, the facilities have an international training center and a central warehouse. The facility currently has 100 employees and is expected to nearly double over the next 5 years.
The company also added that this facility will serve as an export hub to neighboring countries starting with the target of 50 percent localization and then the company is looking at around 80-90 percent localization of products.
"The facility will play a crucial role in reducing turnaround time and minimizing costs by promoting local production, thereby supporting the Government's initiative to enhance Make in India and Self-Reliance. It also aims to evolve into a comprehensive solution for India, initially catering to the Bio and Health segment, with future plans to expand into the Materials & Semiconductors and Energy & Environment sectors," said Jai Hakhu, Board of Directors, HORIBA Ltd., Japan and President, HORIBA India.
