Omron Healthcare is looking forward at two-fold increase in its revenues in India to US$ 40 million (approximately Rs 265 crore) by 2018-2019 on the back of sales network expansion across the country.
In the current fiscal the company is expecting to clock sales of US$ 18.8 million. Also, it is planning to open a factory in India depending on the demand of its products here.
As per media reports, Hisao Masuda, Omron Healthcare India Managing Director said that the company is targeting to achieve sales of US$ 40 million for the fiscal year 2018-19.
The target would be achieved as there is a huge market in India for Omron products due to increasing burden of non-communicable diseases such as cardiovascular, diabetes and respiratory ailments, he added.
As part of the expansion plans by the end of the next fiscal the company will increase number of retail outlets from Rs 45,000 to 55,000.
Presently, Omron Healthcare imports its products which are sold in India from its facilities in Japan, China and Vietnam.
Omron Healthcare India’s product line in the country includes blood pressure monitors, blood glucose monitors, nebulisers and body composition monitors.