Global motion plastics leader Igus aims to double revenues to Rs 300 cr in India

  • Industry News
  • Nov 27,21
Germany-based Igus announced the launch of over 180 new products from its innovative virtual product expo - titled Igus Motion Plastic Show (IMPS) - to support growth in India.
Global motion plastics leader Igus aims to double revenues to Rs 300 cr in India

Bengaluru

In the backdrop of 20 successful years of operations in India, igus - the global leader in motion plastics - has announced an aggressive growth plan and strategy for the country. As the 9th largest market globally and the 3rd largest market in the APAC region, igus India has consistently been recording double digit growth over the last many years (except the pandemic year) and in the current year is growing at 30% above the previous record year on average. Igus India hopes to double its revenues to Rs 300 crores in the next 3-4 years.

The German firm on November 24 hosted the virtual product expo titled Igus Motion Plastic Show (IMPS). During IMPS, among a host of plans to drive growth in the next phase, igus India announced the introduction of a “virtual show booth” replete with its entire set of products which is available for customers to be viewed, tried and tested both via virtually and physically. 

The innovative virtual booth was aimed to give customers an immersive experience similar to a face-to-face expo with an option to interact with product experts. The first such innovative virtual trade show was set up at igus’ global headquarters in Cologne (Germany). After the great success of the virtual expo spanning 400 sq m in Germany, which hosted more than 100,000 visitors from across the globe, igus India created its own IMPS virtual show booth exclusively for its customers in the Indian Sub-continent.
    
Deepak Paul, Managing Director, igus India, said, “India is one of the key markets in the world for igus, occupying one among the top 10 positions, globally. Having achieved an impressive double-digit growth for the last 20 years in India, igus India’s range of motion plastics with its motto ‘tech up; cost down’ has been widely accepted across all manufacturing industries. With businesses chugging back to normalcy and the buoyancy in the economy on its way to returning it to the hey days, the path ahead looks promising as manufacturers look for cost effective ways to drive their businesses. To support them, Igus India has chalked out a multi-pronged strategy to drive growth and support businesses achieve their growth objectives, one of them being an immediate addition of 10,000 sq ft with the intention of starting injection moulding in India which has been a longstanding wish from the Indian customers.”



Santhosh Jacob, Country Manager and Director, igus India, said, “As a technology focused organisation, innovation has always been igus’ cornerstone and prime focus. Igus India’s investment of nearly Rs 2 million into the Igus Motion Plastic Show (IMPS) is yet another innovative offering to enable customers visiting the virtual stall to not only witness new products, product extensions and new service offerings, but also interact with an igus’ product experts who can share more insights, global experience and also directly discuss their relevant applications of interest virtually. Coupled with the possibility of on-line lifetime calculations and option to order and pay on-line and get delivery starting from 24 hours, igus truly would like to work towards being the easiest company to work with.” 

Stephen Moreno Simpson, International Group Development, Igus GmbH added, “igus products are manufactured in accordance with its guiding principle – plastics for longer life. Our products are designed with passion to extend the service life of machines and applications, eliminate maintenance and reduce costs. Our investment in the virtual trade show comes at a time when buoyancy to the manufacturing segment is returning and augurs well with the plans that we have envisioned for India.”

Igus India Pvt Ltd - the wholly owned subsidiary of igus GmbH - has successfully completed the assessment conducted by Great Place to Work Institute, India, and is certified as a great workplace as well. Igus’s products are used across 50 industries ranging from 3D printers to construction machinery to automotive industry to medical technology.   

Igus is the global leader in motion plastics founded in the year 1964 by Gunter Blasé developing the first iglidur part for Pierburg in 1965. Since then, Igus has built an impressive portfolio of motion plastics catering to over 50 industries around the world. The Euro 764 million transnational has 35 subsidiaries and more than 200,000 customers worldwide. Igus has more than 234,000 products from stock like energy chains, cables, plain bearings, linear technology, bar stock, 3D printing and low-cost automation. Over the last 5 decades, igus has grown as an outstanding brand providing solutions over conventional metallic components with specific advantages.

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