Omron to establish first Indian medical devices factory in Tamil Nadu.

Japan's Omron will open its first medical device factory in India in the southern state of Tamil Nadu, two local government sources with direct knowledge said on Monday, the latest foreign manufacturer to set up operations in the region.

 Omron will make devices including blood pressure monitors and will invest nearly 1.3 billion Indian rupees (about $15.7 million) to set up the plant, the sources said, declining to be identified ahead of an official announcement later recently.

The company did not respond to a request for comment from Reuters.

 The Japanese company makes electrical equipment ranging from blood pressure monitors to industrial switches and will become the latest global manufacturer to enter or ramp up production in Tamil Nadu, which has in recent months attracted investments from Hyundai Motor, Nike shoemaker Pou Chen and SoftBank Group-backed Ola Electric.

Omron last month forecast sales of its cardiovascular equipment to gradually recover on the easing of COVID-19 curbs in China and the peaking out of inflation mainly in the United States and Europe.

It also said it would focus on "capturing demand in India," where it expects sales of blood pressure monitors to soar in the coming years, spurred by an aging population and lifestyle changes.

BS