October 31, 2007 -- Japanese textile machine maker Murata Machinery Ltd today announced the setting up of its subsidiary - Murata Machinery India Pvt Ltd - in India and said it would start operations from November this year.
To begin with, the company would base its operations in Mumbai, Delhi and Coimbatore, eyeing the major textile belts of the region, Murata Machinery senior managing director Hidetoshi Kimura told reporters here.
The company has grown its business by 800 per cent in India in the last 10 years. From the $80 million in 2006-07, the company expected to generate business worth $100 million this financial year. Having increased more than ten-fold over the past five years, sales of textile machinery in India accounts for nearly 30 per cent of the global sales, he said.
Murata Machinery will further enhance the operations of market support, installation and follow-up services for its textile machines, which have traditionally been handled by its authorized service partner MMI services Private Ltd, he said.
Asked about plans to start an assembling unit in India, Hidetoshi said the company has taken a first step, and future plans would be decided in due course.
With the remarkable growth of the Indian economy, Murata expected that together with its textile machinery, its markets for machine tools, logistics and automation equipment would also grow significantly, he said.
Source: The Press Trust of India Limited
