Upholding innovation as a cornerstone for development, Gunnebo Security Group plans to launch a Global R&D center in India. The centre to be established at Halol in Gujarat, will develop products and solutions for national and international markets. In addition, Gunnebo also aims to increase the investments in its Halol plant by Rs30 crore.
The capacity expansion is aimed not just towards enhancing the existing production capacity of traditional physical security products but will be also extended to the special ATM-line T. The centre is expected to open new prospects for utilizing India’s unmatched engineering talent and substantially reduce the speed to market while introducing new solutions.
The company apart from focusing on boosting production capacities will also focus on securing investments to meet the increased demands of customers, informed Per Borgvall President and CEO of Gunnebo Group. He further added, “. “We would also need to move our business into new business verticals, bringing the best from our global product portfolio into the Indian market.”
Eyeing the rapidly expanding urbanization, Gunnebo views its fresh investments infused in the Indian market to enhance the manufacturing capacity by another 30% CAGR over next three years. Gunnebo foresees this opportunity to consolidate its presence in India by creating an export market, which can fuel the growing demand on a global scale.