San Jose and Chennai based Syrma Technology, a leading electronic products and solutions provider, today announced its foray into the Indian market and its plans to set up its fifth manufacturing unit in the Delhi-Mumbai corridor. This unit will service the opportunities in the burgeoning National market and will focus especially on the Auto, Industrial, Aero & Defence and Healthcare sectors where the company has proven expertise.
Syrma Technology, a part of the four-decade old Tandon Group, has 1800 employees across its four facilities in India. 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.
The company helps its customers add intelligence to products by providing solutions around design, build and innovate. An Export-oriented Unit based in Madras Export Processing Zone (MEPZ), Syrma designs and manufactures RFID tags, Magnetic products, Printed Circuit Boards Assembly (PCBAs) and box builds for a wide range of applications. The company has more than 100 customers in over 20 countries and has produced & distributed over 200 mn OEM products. Syrma is arguably the largest producer of IoT based products in India today.
Sharing details about its plans to foray into the domestic market, Dr. Sreeram Srinivasan, CEO, Syrma Technology, said, “Syrma has an excellent track record of over a decade in working with leading global customers and in adding intelligence to their products. We are very excited about the opportunities in the electronics space in India. This domain is growing at a very healthy pace and is expected to touch US$ 230 bn by 2020. Combined with four decades of experience of Tandon Group, Syrma is nicely positioned to leverage these opportunities. To service the increasing demands from the National market, we are investing US$ 10 mn in the country and will be setting up a new manufacturing plant in the DelhiMumbai corridor. This plant will be operational in the later part of 2018.”