Yudo India, a subsidiary of South Korea’s Yudo Group, is enhancing its presence in Maharashtra through a two-phase investment strategy aimed at tapping into India’s expanding injection molding market. Experiencing an annual growth rate of 18-20%, the company is increasing local production to decrease reliance on imports and improve supply chain efficiency.
In the initial phase, Yudo India is establishing a new manufacturing facility for hot runner systems in the Mumbai Metropolitan Region, anticipated to commence operations in the first half of this year. Additionally, the company is expanding its warehousing capacity within the state.
The subsequent phase will focus on boosting production capacity and localizing essential components to cater to the growing demand across sectors such as automotive, packaging, white goods, and electronics. This expansion aligns with projections that India’s plastics industry will reach USD 100 billion by 2027.
Vishal Agarwal, President of Yudo Hot Runner India Pvt Ltd, stated that the domestic injection molding market is experiencing robust demand, with manufacturers seeking advanced technological solutions. By expanding their local footprint, Yudo India aims to reduce delivery lead times and enhance service capabilities.
Operating in India for over two decades, Yudo India views Maharashtra as a pivotal market for its future growth.
