Chennai based Syrma Technology, an exporter of electronic products and solutions announced its foray into the domestic market with a $10 million investment in its fifth manufacturing unit in the Delhi-Mumbai corridor.
ET reported that the new unit will service the opportunities in the Indian market and will focus on the Auto, Industrial, Aerospace & Defence and Healthcare sectors which the company already makes products for.
Syrma designs and manufactures RFID tags, Magnetic products, Printed Circuit Boards Assembly (PCBAs) and box builds for a range of applications. In addition to two units in the Madras Export Processing Zone (MEPZ), Chennai the company has two manufacturing units located in Tamil Nadu and Maharashtra.
Sharing details about its plans to foray into the domestic market with the English Daily, Sreeram Srinivasan, CEO, Syrma Technology, said that Syrma is very excited about the opportunities in the electronics space in India. He further informed that to service the increasing demands from the national market, the organisation is investing US$ 10 million in India and will be setting up a new manufacturing plant in the Delhi-Mumbai corridor which will be operational in the later part of 2018.
