DELHI, INDIA – Syrma Technology is spending $10 million to set up its fifth manufacturing unit, this one in the Delhi-Mumbai corridor. The new plant is expected to come online later this year.

The EMS company said the new unit will focus on products for automotive, industrial, aerospace and defense and healthcare.

Syrma’s business grew at a CAGR of 27% in the last three years.

“Syrma has an excellent track record of over a decade in working with leading global customers and in adding intelligence to their products,” said CEO Sreeram Srinivasan. “We are very excited about the opportunities in the electronics space in India. This domain is growing at a very healthy pace and is expected to touch $230 billion by 2020. To service the increasing demands from the national market, we are investing $10 million in the country and will be setting up a new manufacturing plant in the Delhi-Mumbai corridor. This plant will be operational in the later part of 2018.”