IMQ Group sets up JV in India to test medical devices, electrical products

European conformity assessment firm says it will bring in 'rigorous quality and safety standards'

IMQ Group, a European company, has entered India by launching Elettra Tech Labs as a joint venture (JV) that will provide testing and inspection services for medical devices and electrical and electronic products.

 

The JV is with IMQ India, an operating company of the group that has other such units abroad. “IMQ India combines the IMQ Group’s 75 years of experience in conformity assessment with the deep market knowledge of its Indian partners. This collaboration aims to support Indian businesses in meeting rigorous quality and safety standards while enabling them to access international markets confidently,” said a company statement.

 

 

“This JV marks a significant step in our internationalisation strategy,” said Vincenzo de Martino, president and chief executive officer of IMQ Group. “Through IMQ India, we will deliver world-class services while fostering local expertise and market growth".

 

M N Sridhar, director of Drugs Control and Controlling Authority, Tamil Nadu, said a laboratory analysing medical devices would be established in Coimbatore for Rs. 29.67 crore. The central government and Tamil Nadu will share the cost 60:40 and the laboratory will generate jobs for analysts, he said at an event announcing the JV.

 

IMQ India is led by Stefano Ferretti, chief executive officer (CEO); Kiran Raju Narayan, chief operating officer; and Sarvanan Ramamurthy, chief technology officer. IMQ India will initially prioritise the medical device sector, where Indian exports exceeded Rs 9,000 crore in 2023. The company also plans to expand its focus to other sectors, leveraging its investments in advanced testing technologies.

 

“India's economic growth, bolstered by initiatives like the [government’s] production linked incentive (PLI) Scheme, positions it as a key global player in electronics and medical devices. IMQ India’s launch aligns with the nation’s drive for innovation and sustainability, contributing to the development of a skilled workforce and advanced industrial capabilities,” said the statement.

 

“IMQ India is the result of a strategic vision that combines the IMQ technical expertise with the deep market knowledge of our Indian team” said Ferretti. IMQ Group has existing businesses in China, the United Arab Emirates, Turkey, Poland, Germany, the United Kingdom and Spain.

 

“This launch not only strengthens our laboratory network but also empowers Indian businesses to access global markets confidently” said Fulvio Giorgi, CEO of IMQ.