Horiba targets 20 bln yen India revenue by 2028

Japanese precision instruments and testing systems company Horiba aims to generate 20 billion yen in revenue from its India operations by 2028, as the nation becomes a pivotal hub for the group's global manufacturing and research initiatives. This year marks the company's 20th anniversary in India, where it recorded a sales figure of roughly 15 billion yen in FY 2025, growing at an average annual rate of over 15 percent.

Horiba's executives consider India as the most promising and dynamic market for the Horiba Group, evolving from a mere consumer of its technology to a manufacturing and development base. Dan Horiba, Executive Director of Horiba Ltd, emphasized the company's enduring commitment to India and its potential role in the group's global expansion.

With over 600 employees scattered across eight facilities, the Kyoto-based company has transitioned its operations from mere sales and services to manufacturing and is now concentrating on expanding local research and development to contribute directly to Horiba's global technology pipeline. Approximately 40 percent of Horiba India's revenue stems from domestically produced or assembled items.

In terms of sectoral contributions, the Bio & Healthcare and Energy & Environment sectors account for 40 percent each, while the Materials & Semiconductor segment constitutes the remaining 20 percent. In January 2026, Horiba acquired Gujarat-based Pristine Deeptech, marking the first acquisition by the Horiba Group in India. Pristine Deeptech specializes in lab-grown diamond research for semiconductor and quantum applications.

Horiba, which commands an estimated 60 percent global market share in Mass Flow Controllers (MFCs) utilized in semiconductor manufacturing processes, began local MFC production at its Pune facility in 2024. The company anticipates a surge in semiconductor-related demand over the next three to five years as domestic commercial fabs and assembly units come online.

As Horiba India embarks on its next phase, the company aims to bolster local R&D, enhance advanced manufacturing capabilities, and fortify collaborations across industry, academia, and the innovation ecosystem, with the goal of not only witnessing India's growth but actively shaping new markets and technologies as part of that expansion.