1. Could you shed light on the new expansion plans for India?
Igus, the global leader in motion plastics, has unveiled a cutting-edge, 92,000 sq ft manufacturing facility near Budigere in Bengaluru. This represents a significant milestone for Igus India as we prepare to introduce new divisions specifically focusing on the semiconductor and renewable energy sectors, both of which are poised for substantial growth. This expansion forms an integral part of Igus’s long-term strategy to augment its operational capabilities and cater to its extensive customer base in India.
The Indian market offers immense potential for Igus, as evidenced by our sustained growth and continued investments in the region. Our primary objective is to provide advanced products and solutions not only to our Indian clientele but also on a global scale. Igus’s global emphasis on cost-effective and sustainable solutions encapsulated in our motto ‘Tech up, cost down,’ harmonises seamlessly with the Indian approach to technology and innovation. This alignment has been a pivotal driver of our remarkable growth in the country. Looking ahead, our plans encompass expansion beyond Bengaluru, with the establishment of logistics and assembly centres in Pune, Gurugram, and Noida.
2. What is the current strength of the India subsidiary?
Igus India, a wholly-owned subsidiary of the German-based Igus GmbH, has been a significant contributor to the motion plastics industry since its inception as a subsidiary in 2000. With a customer base exceeding 19,000 in India, Igus India has established a robust local manufacturing presence, producing 99% of its products within the country. The company's extensive inventory comprises 125,000 parts, with an annual introduction of 2,497 new products, underscoring its dedication to pioneering solutions and customer contentment.
3. Could you elaborate on the Bengaluru facility?
The establishment of the new Bengaluru facility reflects a substantial investment exceeding ₹100 crores (approximately 12 million euros), emphasizing Igus’s steadfast commitment to the Indian market. This financial commitment encompasses ₹20 crores for the establishment of the factory, ₹10 crores for the acquisition of advanced injection moulding machines, and ₹20 crores allocated for the manufacturing process. The facility is equipped with state-of-the-art technology and infrastructure meticulously crafted to meet the exacting standards of motion plastics production, ensuring Igus India's continued delivery of premier products to its clientele. Moreover, our ongoing expansion of the motion plastics product portfolio, coupled with the assimilation of digitalization and AI, serves as a testament to our enduring corporate strategy. Substantial strides are being made to entrench digitalization as a pivotal technology at Igus, destined to play a pivotal role in our forthcoming growth and triumph.
4. How does Igus India plan to strengthen its India presence?
In 2024, Igus will prioritise the development of more efficient solutions for lubrication-free movements, low-cost automation, and products that contribute to CO2 reduction, in line with global sustainability objectives. This expansion of product offerings is a key component of Igus's overarching strategy to maintain a leading position in the rapidly evolving motion plastics industry. Our commitment to technology and innovation forms the foundation of Igus's operations. With a comprehensive catalogue comprising 125,000 parts and the introduction of 2,497 new products annually, we are continually driven by the evolving needs of our customers to redefine the boundaries of what is achievable.
