Horiba India is planning to use the Nagpur facility as an export hub. Credit: mkfilm / Shutterstock.

Horiba India has inaugurated its medical equipment and haematology reagent manufacturing unit in Butibori, Nagpur, Maharashtra, reported ANI News.

With a phase-wise investment of Rs2bn ($23.96m), the facility aims to cater to over 30,000 diagnostic labs and hospitals in India.

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The new 50,000m² facility includes a production unit for blood diagnostics, clinical chemistry equipment, and medical consumables.

The Nagpur facility features the Horiba India Technical Institute and Experience Zone and will offer biomedical learning programmes and showcase healthcare equipment.

Horiba India aims to use the facility as an export hub to neighbouring countries, with a focus on localising production up to 90%.

Maharashtra’s deputy chief minister Devendra Fadnavis said: “The medical devices sector is growing rapidly in India and also globally. India which was a net importer of medical devices is now a big exporter.

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“Our entire export in the sector is touching around $10bn with an annual growth rate of around 10%. India is also becoming a medical tourism destination and now, out of the world’s top 27 medical tourism destinations, India is at tenth top medical tourism destination.”

The site currently employs 100 employees and plans to double the workforce in the next five years.

Horiba India chairman Jai Hakhu said: “The facility will play a crucial role in reducing turnaround time and minimising costs by promoting local production, thus supporting the government’s initiative to enhance ‘Make in India’ and ‘Self-Reliance’.

“It also aims to evolve into a one-stop solution for India, initially catering to the bio and healthcare segment, with plans to expand into the materials and semiconductor and energy and environment sectors.”