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Coherent's first global manufacturing center in India will focus on the development, production and service of lasers, optical networking components and systems

505
2023-09-07 14:58:26
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Coherent, a global laser giant, has signed a tripartite cooperation agreement (MoU) with the Indian Institute of Technology Madras Research Park (IIT MRP) and Guidance Tamil Nadu Investment Promotion Centre.

Coherent will establish its first global Manufacturing Centre (CoE) for laser applications at IIT Madras Research Park, which will focus on R&D, production and services for lasers, optical networking components and systems, electric vehicle batteries and semiconductor devices to meet the fast-growing market based on mobile, intelligent and electrical applications.

Representatives of Coherent, IIT Madras and Guidance Tamil Nadu reached a tripartite agreement on the establishment of the CoE

T.R.B.Rajaa, Minister of Commerce at the Tamil Nadu Promotion Centre, said this is Coherent's first direct investment in laser applications in India. Tamil Nadu's vibrant business ecosystem, unrivalled talent pool and pioneering academic institutions make it a prime location for companies such as Coherent.

Professor Ashok Jhunjunwala, President of IITMRP Research Park, said, "We had hoped Coherent would set up manufacturing in Tamil Nadu and now we have made it possible." From R&D innovation to large-scale commercialization and training of young people is the goal of IITMRP. The collaboration with Coherent will greatly benefit the Indian Institute of Technology Madras (IIT-M) and the Madras Research Park (IIT MRP).

Giovanni Barbarossa, Coherent's chief strategy officer and president of the Materials division, said Coherent has growth opportunities in many areas in India. India is a Coherent fast-growing market that will grow at a compound annual growth rate of 40% over the next five years to reach an addrestable market of nearly $2 billion (TAM). "India is an important base for our manufacturing industry and a hub for our research and development activities. With this significant investment, CoE demonstrates our commitment to working with India, investing in Indian talent, and building and developing cutting-edge technologies in the country."

Source: Sohu

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