CHENNAI: One of the world’s largest musical instruments manufacturers, Yamaha, is planning to set up shop in Chennai. According to a statement from the firm on Tuesday, a new 28-acre factory in OneHub Chennai is being built to produce portable keyboards, acoustic guitars, and other professional audio equipment to be sold at mass-market prices.
The factory will help the company crack the expanding Indian market and make it easier to expand in other emerging markets. The Indian western musical instruments market is predicted to cross Rs 542 crore by 2017, according to a report by TechSci Research.
The plant, scheduled to go into operation in January 2019, is the first from Yamaha in India. “Locating our operations in OneHub Chennai aligns well with Yamaha’s vision to expand in India. With this new facility, we will be able to serve both international and domestic markets, providing high-quality musical instruments that cater to the growing market at competitive prices,” pointed out Takashi Haga, Chairman, Yamaha Music India.
The firm is also the fifth
Japanese company to set up shop in the OneHub Industrial township in the city, after Ajinomoto, Hitachi Automotive Systems, Maruchan Ajinomoto and Takasago International.
“This is an important milestone for the development and we hope this will encourage other organisations to partner with us,” stated Anurag Bhargava, Chairman, IREO and Director, OneHub Chennai.