Cemtrex, a world leading industrial and manufacturing solutions company, announced that the company is planning to set up a state of the art instruments & electronics manufacturing facility inIndia in order to serve the growing demand for process instrumentation in Asia and other parts of the world. Cemtrex believes that with access to low cost manufacturing the Company will be able to increase its market share, and maintain its competitive advantage as a low cost provider in the market.
Cemtrex plans to establish this facility in the next 12 months. The Company is also looking forward to taking advantage of the government incentives offered by the “Make in India” program which will offset some of the upfront costs for the Company. The Indian government has announced scheme of incentives for manufacturing of electronics including 25 per cent capital subsidy for 10 years on capital expenditure, reimbursement of central and state duties, and income tax exemptions on setting up in special economic zones, assistance in skill development etc.
Cemtrex’s Chairman and CEO, Saagar Govil, commented, “This new manufacturing facility will allow us to improve our profit margins on our IS 2500 emission monitor and increase market share through in-stock deliveries.” Mr. Govil continued, “We have long term plans of building a suite of products and this manufacturing plant will set the stage for our long term success in markets globally.”
By Baishakhi Dutta
