Corning’s Bullish Growth in India Across Multiple Sectors
Corning, a high-tech glass company, is optimistic about its growth prospects in India, particularly in the mobile consumer electronics and life sciences sectors, according to a senior company official. Currently, the automotive and optical fibre businesses are Corning’s largest revenue sources in the country.
The company, which started by providing glass covers for Thomas Edison’s bulb, now offers glass technology for various uses including mobile displays, television screens, semiconductor manufacturing, and laboratory packaging.
Gokhan Doran, VP and General Manager at Corning International, noted that with the growing presence of global smartphone manufacturers in India, the company aims to integrate into the supply chain and capitalize on the country’s rising prominence in the industry.
Corning has announced an investment exceeding Rs 1,000 crore to establish a joint venture in Tamil Nadu with Optiemus Infracom, called Bharat Innovative Glass (BIG) Technologies, to produce cover-glass parts for mobile electronics. Additionally, it plans to invest Rs 500 crore in a borosilicate glass unit in Hyderabad to produce vials and tubes for the life sciences sector.
Sudhir N Pillai, Managing Director and President for India, Middle East, and Africa at Corning, revealed that the Hyderabad plant will be operational in the first half of 2025, while BIG Technologies will start in the second half of the year. The BIG Technologies plant, dedicated to Gorilla Glass finishing, is expected to create 500-1000 jobs, and the Hyderabad facility will employ around 500 people.
Furthermore, Corning’s Global Capability Centre in Pune currently accommodates 100 people, with plans to reach full capacity by the end of next year. While automotive and optical fibre remain the major business contributors, mobile consumer electronics and life sciences sectors are expected to be the fastest growing verticals for Corning in India.
First Published: Sep 12 2024 | 11:54 PM IST
Original Story https://www.business-standard.com/companies/news/corning-bullish-on-biz-growth-in-india-to-employ-1-600-people-at-new-units-124091201255_1.html
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