Japan's Omron Healthcare To Set Up Medical Devices Manufacturing Plant In Tamil Nadu With Investment Of Rs 128 Crores

Omron Healthcare, a Japan-based manufacturer and distributor of personal healthcare products, will set up a medical devices manufacturing plant in Tamil Nadu at a cost of ₹128 crore. 

A Memorandum of Understanding (MoU) was signed in the presence of Tamil Nadu Chief Minister MK Stalin in Osaka, Japan on Tuesday (30 May), according to a press release from the State government.

As per reports, the Kyoto-based manufacturer will begin work for the manufacturing unit, on a site of roughly 24,000 sq. meters in Tamil Nadu, as early as August this year. The plant is expected to be operational by March 2025 with 60 workers and produce about 3 million monitors in its first three years, with plans to increase production capacity as per demand.

Omron sees Indian demand growing to 14 million monitors by 2030, making the country the world's second-largest market, after China. The company estimates a spend of about 2 billion yen ($14.3 million) to build a factory for blood pressure monitors, enabling it to sell locally made devices in a growing market.

The OMRON Group has a diversified business presence, including in fields such as industrial automation, healthcare devices, and electronic components manufacturing. It has export business with over 120 countries.

Under its healthcare healthcare business, the company is into the manufacturing of home blood pressure monitoring kits, portable main management devices, fitness devices including wearables and respiratory devices such as table-top nebulizer systems, amongst others.

Previously, Omron has exported Chinese- and Vietnamese-made devices to India. The company also holds almost half of the global market for blood pressure monitors.

Tamil Nadu CM Stalin has been touring Singapore and Japan over the last week to attract investments to the State and to invite business communities to the Global Investor Meet (GIM) to be held in January 2024.

Notably, on Monday, Tamil Nadu signed six MoUs worth ₹818.9 crore with Japanese companies to set up various manufacturing facilities across the State. Tamil Nadu inked six MoUs valued at ₹818.9 crore with Japanese firms to establish manufacturing facilities across the state.