NMB-Minebea India Private Limited(NMB- Minebea India), a wholly-owned subsidiary of Minebea Co., Ltd.(Minebea), a world leading manufacturer of miniature and small sized bearings and precision components, announced commencement of its operations in Gurgaon, India. The company will focus on strengthening Minebea’s business operations and expanding its sales activities for the new clients in Indian market, where government too is placing increased emphasis on manufacturing activity.
Until now, Minebea’s marketing activities had been carried out through its representative office in Chennai. However, going forward, upon the establishment of its subsidiary NMB- Minebea India, the company will start its full-fledged business operations. NMB-Minebea India will be head quartered in Gurgaon, with branch offices in Chennai and Pune.
On the occasion, Mr. Ashok Ashta , Managing Director & CEO of NMB- Minebea India said, “Our objective in entering the Indian market is to leverage the growth potential in the automobile, aerospace, medical and textile market which are fast emerging sectors. For established part makers like Minebea, India offers us the added advantage of a broad producer canvas to choose from. We will also be hiring more manpower, with the expansion of our operations in India. “
NMB-Minebea India strives to boost its sales activities, tailored to the needs of local users and customers hence, enhancing recognition and visibility of Minebea products in Indian market, starting with the automotive sector etc. The company will also proactively focus on strengthening its sales promotion in collaboration with its distributors, agencies and subcontractors by creating a robust network. The component maker foresees large market potential for its products range that includes ball bearings, stepping motors and small DC motors, micro actuators, load cells and sensors with volumes based on customers demand. It plans to serve the local market mainly through imports from its manufacturing facilities in Singapore and Thailand. Some electronic components will also be sourced from its production unit in China.
As a next step, NMB-Minebea India plans to grow in the Indian market, which is one of the fastest growing automotive markets in the world. Minebea’s high quality precision components serve as a fundamental building block for manufacturing superior products. Thus, the company sees a clear and active role in contributing to Indian government’s goal of raising the contribution of manufacturing to GDP to 25%. In order to make this contribution, the company will also consider the prospects of a local alliance that will involve a factory set up for assembling products and simultaneously setting off a chain reaction that will lead to better quality exports in the long run.