Igus, a leading German Tier-1 motion plastics company with a substantial customer base of over 19,000 in India, is projecting revenues of Rs 340 crore in 2024. As part of its strategy to solidify its presence in the Indian market, Igus has inaugurated a new state-of-the-art manufacturing facility in Mandur near Budigere, Bengaluru. Spanning 92,000 square feet, this facility marks a significant milestone in Igus’s expansion efforts, particularly as the company gears up to focus on the semiconductor and renewable energy sectors, which are poised for significant growth.
Igus India, a wholly-owned subsidiary of Germany-based Igus GmbH, has been a key player in the motion plastics industry since its establishment in 2000. With an extensive catalogue of 125,000 parts, the company has built a strong presence in India, catering to a wide range of customer demands with locally assembled products. On average, Igus introduces over 200 new products annually, reflecting its commitment to innovation and customer satisfaction.
The new Bengaluru facility represents a significant investment of over Rs 100 crore (approximately 12 million euros), underscoring Igus’s dedication to the Indian market. This investment includes Rs 20 crore for setting up the factory, Rs 40 crore for advanced injection molding machines, and Rs 20 crore for the manufacturing process. Equipped with cutting-edge technology and infrastructure, the plant is designed to meet the high standards of motion plastics production, ensuring that Igus India continues to deliver world-class products. The company is also exploring the purchase of additional land for further expansion.
Deepak Paul, Managing Director of Igus India, highlighted the strategic importance of this expansion, stating, “The Indian market presents tremendous potential for Igus, as demonstrated by our continued growth and investment here. Our objective is to deliver cutting-edge products and solutions not only to our customers in India but also on a global scale. Igus’s global focus on cost-sensitive and sustainable solutions, encapsulated in our motto ‘Tech up, cost down,’ aligns perfectly with India’s approach to technology and innovation. This alignment has been a key driver of our significant growth in the country. Looking ahead, we plan to expand beyond Bengaluru, with logistics and assembly centers set to be established in Pune, Gurugram, and Noida.”
Currently, Igus India ranks as the sixth largest subsidiary among Igus’s 38 global subsidiaries, reflecting its strong performance and growth potential. Over the past two years, the company has doubled its market growth, with revenues increasing from Rs 199 crore to Rs 313 crore. This upward trajectory is expected to continue, with projected revenues of Rs 340 crore for 2024.
Igus India has also invested in a clean room testing facility in Germany and plans to establish a similar setup in India to further enhance product development and quality assurance capabilities.
Santhosh Jacob, Country Manager and Director of Igus India, emphasized, “Technology and innovation are at the core of everything we do at Igus. With a catalogue of 125,000 parts and 247 new products introduced this year, we are constantly inspired by our customers’ needs to push the boundaries of what is possible. Our ongoing expansion of the motion plastics product world, coupled with the integration of digitalization and AI, is a testament to our long-term corporate strategy. We are making significant progress in embedding digitalization as a key technology at Igus, which will play a crucial role in our future growth and success.”
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