igus has announced the setup of a new facility at Bengaluru in India to further strengthen and grow its successful operations in the country for over two decades, since it established as a subsidiary in 2000. igus India, a subsidiary of the German motion plastics company igus GmbH, announced that the company plans to invest Rs 100 crore to increase the availability of items and establish value adding processes at its new plant. igus India has taken up a new four-acre facility in Bengaluru, which will be spread over 84,000 sq feet with world-class equipment and infrastructure in motion plastic production. igus has already invested around Rs 15 crore in the first phase of construction of the facility, which is expected to be operational in the coming months.
igus India currently is the 6th largest among 38 subsidiaries and the company's growth plans in the country has gained momentum after doubling its growth in the market in the last two years. igus India revenues have grown from Rs 118 crore in 2020-21to Rs 199 crore in 2021-22 and to Rs 284 crore in 2022-23.
igus India's growth plan is coupled with a continued quest for innovation within the space that Igus is globally recognised for. The company launched 190 new products in 2023 for the India market and several digital services and solutions under its global program, "Enjoyneering", advocating fun with innovation in engineering. "Enjoyneering" aims to make an engineer's job fun, helping them unleash their engineering power with innovation for better productivity and success at work.
Deepak Paul, Managing Director, igus (India) elaborated, "Igus has a global focus on cost-sensitive and sustainable solutions, designed to meet customer demands, in line with our motto ‘Tech up, cost down', which is also the Indian approach to technology and innovation, a key factor that has led to our significant growth in the country. With the economy looking buoyant and with our continued commitment to invest in growth, we are looking to further double our current revenues in a shorter span of the next 3-4 years."
Santhosh Jacob, Country Manager and Director, Igus India added, "Along with the 190 new innovations, we have launched the iguverse, an igus metaverse and an efficient user-friendly platform that empowers sales and engineering with virtual reality. This enables companies to save time, money, and resources in product development, optimisation, and maintenance and virtually simplifies engineering. The digital twin in iguverse can also be used for training."
Stephen Moreno Simpson, International Group Development, Igus GmbH said, "We have initiated ‘Chainge', a recycling program, wherein customers can send their discarded energy chains to igus for recycling, irrespective of the company they purchased from and this will be recycled responsibly. The igus-bike is the world's first robust and durable fully-designed bicycle using recycled plastic. ‘Reguse' is another initiative we run, that turns electrical devices into functional devices. Besides, we have our tree planting projects, wherein we have planted over 9000 trees in India and over 30,300 trees globally."
