IDEX Corporation, based in the United States, has announced plans to invest Rs 500 crore in its India business over the next three to five years.
The company is building a new factory in Sanand, Gujarat, as part of this strategy, for which it has already purchased 17 acres of land.
Rajesh Prasad, President Emerging Markets at IDEX Corporation said “India is a big market for us and we have grown here at a CAGR of 25 per cent in the last five years. Our India turnover now stands at Rs 500 crore.”
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