Yudo India Expands Operations in Maharashtra

Mumbai, Mar 24 (PTI) Yudo India, a subsidiary of South Korea-based Yudo Group, on Monday, said it is expanding its operations in Maharashtra with a two-phase investment strategy to capitalise on India's growing injection moulding market.

Yudo India, which has been recording 18-20 per cent year-on-year growth, also said it is ramping up local production to reduce import dependence and improve supply chain efficiency.

In the first phase, the company is setting up a new manufacturing facility for the hot runner system in the Mumbai Metropolitan Region, which is expected to be operational in the first half of this calendar year. It is also expanding its warehousing capacity in the state, the company said.

A hot runner system is a molten plastic delivery unit used in an injection mold.

The second phase will focus on increasing production capacity and localising key components to meet rising demand across industries, including automotive, packaging, white goods and electronics, it stated.

The expansion comes at a time when India's plastics industry is projected to reach USD 100 billion by 2027, it said.

"The domestic injection moulding market is witnessing strong demand, with manufacturers seeking advanced technology solutions. By increasing our local footprint, we aim to reduce delivery lead times and enhance service capabilities," said Vishal Agarwal, President, Yudo Hot Runner India Pvt Ltd.

Yudo India has been operating in the country for over two decades and sees Maharashtra as a key market for its future growth.