Indo MIM to invest ₹100 cr in India to make medical devices

Our Bureau Bangalore | Updated on January 23, 2018 Published on April 21, 2015

Indo US MIM Tec, a supplier of precision-engineered products using metal injection moulding technique, plans to invest ₹100 crore in India.

The company will make this investment for manufacturing indigenous medical devices. Additionally, an investment of ₹1,000 crore is also planned globally over the next five years. This is expected to double its turnover and manpower.

Indo MIM designs, manufactures and supplies metal injection moulding products for automotive, medical, consumer, aero space, consumer, oil and gas and industrial sectors to customers in 33 countries around the world. The company employs about 3,000 people of which 500 are graduate engineers.

According to Krishna Chivukula, Chairman and Founder 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,” he added.

Chivukula received the distinguished alumnus award, 2015 from IIT Madras, in recognition of his entrepreneurial skills and philanthropic activities. Globally, MIM has $1 billion in sales, which grows at about 10–15 per cent a year.

Published on April 21, 2015
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