Husky Injection Molding Systems Ltd. sees India as a strategic market, with sectors like packaging, medical and automotive driving growth of more than 10% a year, a company executive said at the recent Plastindia 2018 show, held in February in Gandhinagar, India.
"The per capita consumption of plastic [in India] is still very low compared to other economies and its adaptability continues to grow in future," said Dinesh Budapanahaili, vice president (South Asia), with Husky Injection Molding Systems (India) Pvt. Ltd.
He said Husky, based in Bolton, Ontario, continues to expand its plant in the city of Chennai, although he declined to offer specifics.
"We see a bright future in this region of the world," he said, adding that the plant's production is currently split about evenly between domestic and export markets, including Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia and the United Arab Emirates.
"We see growth in both the domestic and export markets in the range of 10 to 15%," he said.
Husky entered the Indian market in 1999, opened an office in Mumbai in 2001 and opened the factory in Chennai in 2009. The facility supports Husky's hot runner and mould refurbishing business in the region.
At the show, it exhibited co-injection multi-layer technology and PET tooling self-cleaning and integrated mould alignment technology.