Syrma plans USD 10 million investment in 2 years

This unit will service the opportunities in the burgeoning national market and focus especially on the auto, industrial, aero & defence and healthcare sectors where the company has proven expertise. Syrma Technology is a part of the four-decade old Tandon Group. 

The company currently focuses primarily on the export market and its core business has been growing at a CAGR of over 27% in the last three years. In addition to two units in MEPZ, it has two other manufacturing units located in Tamil Nadu and Maharashtra.

Dr Sreeram Srinivasan, CEO, Syrma Technology, said, “We have over a decade worth experience of working with leading global customers and in adding intelligence to their products. We are excited about the opportunities in the Indian electronics space. This domain is growing at a healthy pace and is expected to touch $230 bn by 2020. To service the increasing demands from the national market, we are investing $10 mn in the country over the next 2 years and will be setting up a new manufacturing plant in the Delhi-Mumbai corridor. This plant will be operational late in 2018.”

The company has more than 100 customers in over 20 countries and has produced & distributed over 200 mn OEM products. Syrma is among the largest producers of IoT based products in India currently.