According to Yamaha Music India (YMI), the company would produce 4 lakh acoustic guitars and 3 lakh portable keyboards per year in the coming decades.
“YMI is leading Japan’s Yamaha group in the 720 million Singapore dollars investment for two-phase development of a factory that would produce the acoustic guitars and portable keyboards,” said YMI managing director Takashi Haga on Friday.
Yamaha investment is proceeding smoothly with good support from the Tamil Nadu government, said Haga while addressing a seminar on promotion of Global Investors Meet 2019 that will be hosted by Tamil Nadu on January 23 and 24, 2019.
The Japanese company invested 380 million Singapore dollars in the first phase of the factory that is coming up at an industrial hub near Chennai. The development has been given all clearances with Phase I construction that started in July last year. Preparations are under way to commence production from early next year.
Most of the Yamaha Music India production will be for the Indian market, though Haga expects to initially export about 20-30 per cent from first year production of 1 lakh sets. Exports volume will decrease as Yamaha expects strong demand for its products in the years ahead, said Haga, adding that the market has been surveyed.
“We have started a music school which is collaborating with private schools across the country,” Haga added.
Fine tuning to serve musicians
Yamaha Music India gearing up to commence production in its Chennai factory.
- Plans to produce 4 lakh acoustic guitars and 3 lakh portable keyboards
- Company is expected to export 20-30 per cent from the first year’s production
- The Japanese company invested 380 million Singapore dollars in the first phase
- Most of the Yamaha Music India production will be for the Indian market in years ahead