Indian media sources have reported that Indo-US MIM Tec, a leading global supplier of precision-engineered products by Metal Injection Moulding, plans to invest Rs 100 crore in India. The company will make this investment for manufacturing indigenous medical devices. The reports also state that an additional investment of Rs 1,000 crore is also planned globally over the next five years. This is expected to double the company’s turnover and manpower.
Indo-MIM designs, manufactures and supplies MIM products for the automotive, medical, consumer, aerospace, oil and gas and industrial sectors to customers in more than thirty countries around the world. The company employs about 3,000 people, of which 500 are reported to be graduate engineers.
According to Krishna Chivukula, Chairman and Founder of Indo-US MIM Tec, “The future of Indian job industry lies with India’s manufacturing companies and new generation entrepreneurs.”
“The new mantra of ‘Make in India’ will bear fruits only if we are serious about innovation and indigenisation. During 2015 fiscal year and ensuing five years, Indo-MIM plans to aggressively build its capacity,” Chivukula is reported to have stated.