Japanese company to open medical device factory in India

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Japanese company to open medical device factory in India

Omron, a Japanese electrical equipment company, will open its first medical device factory in India in Tamil Nadu. This comes after Tamil Nadu signed Memorandums of Understanding MoUs with six Japanese companies on Monday.

According to a report in Reuters, Omron will make devices including blood pressure monitors and will invest nearly $15.7 million to set up the plant. The company is yet to issue a comment on the same.

The Japanese company that makes equipment such as blood pressure monitors and industrial switches will be the latest global firm to enter Tamil Nadu, which has seen a surge of investment recently, including Hyundai Motor, Nike Shoemaker Pou Chen, and Ola Electric.

The company has recently said that it would concentrate on capturing demand in India, where it expects sales of blood pressure monitors to soar in the next few years due to a change in lifestyle and the aging population.

The MoUs also signed agreements with six Japanese companies and Guidance Tamil Nadu, the state's nodal agency for investment promotion. CM MK Stalin signed the MoUs in Tokyo.

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