Midas AltaTech LLP
Crafting World-class ISBM Solutions in India
Midas AltaTech LLP
Crafting World-class ISBM Solutions in India
As global manufacturing evolves toward smarter, faster, and cleaner production, India’s engineering ecosystem is quietly building its own success stories—ones driven by ingenuity rather than imitation. Among them, Midas AltaTech LLP has carved a niche in high-precision ISBM (Injection Stretch Blow Moulding) machinery, blending decades of polymer expertise with a vision for self-reliant innovation. From designing energy-efficient, high-output systems to redefining the benchmarks of reliability, Midas AltaTech exemplifies how Indian craftsmanship can compete on a global scale.
At the heart of this transformation is Rakesh Hada, Managing Director, whose leadership has turned a homegrown venture into a world-class manufacturer. We spoke with him to understand how Midas AltaTech is advancing India’s Make in India mission.
You’ve had a long journey from a trainee operator to Managing Director at Midas AltaTech LLP. How has that journey been?
It has been a long and fulfilling journey. I began in 1987 at a company in Silvassa as a trainee operator, learning about extrusion, blow molding, and lamination machines. In 1990, I joined Savola in Saudi Arabia, where I started again from the basics and later became plant in charge. After four years, I returned to India and worked as factory manager at Clair Packaging. In 1997, I joined Aoki as a service engineer and over two decades grew to general manager and then director. Around eight years ago, I took charge of Midas AltaTech LLP to lead its next phase of growth. We initially had a joint venture with a Chinese manufacturer, but we ended it because their quality standards did not align with ours. Since 2020, we have been manufacturing our own machines that are almost entirely made in India, and we take pride in not using even a single component from China.
ISBM is a niche market with a limited number of players. What challenges did Midas AltaTech face while establishing itself?
ISBM is indeed a highly specialised segment, with only a handful of players globally, mainly from Japan and China. The initial challenge for Midas AltaTech was acceptance. Customers wanted proven installations before they could trust a new Indian manufacturer. Our first few orders came from Kenya, Tanzania, and the United States, long before we were recognised at home. It was only in our third year that we secured Indian clients. Today, we have five customers in India and several overseas, and we continue to strengthen our credibility through consistent performance and service.
What new projects is the company currently working on, and how do they align with the Make in India vision?
We are currently developing a compact liquor-bottle machine designed for higher productivity and a smaller footprint. The goal is to provide our clients with higher output at lower investment and energy costs. Over the next three years, we plan to introduce two more models with larger cavitation in smaller designs, enhancing efficiency and cost-effectiveness. We also believe in growing alongside our customers. If we sell a machine to one client, we do not sell the same model to his direct competitor for at least three years. This approach allows both us and our customers to expand sustainably.
What has been one of the toughest decisions you’ve made at Midas AltaTech that changed its direction?
One of the toughest but most defining decisions was related to our machine design. In the ISBM segment, most manufacturers use four tie bars. We decided to develop a new design with six tie bars—four for closing and two for clamping. It was not an easy decision because many within our team preferred the conventional approach, but I believed that innovation required us to take a different path. That decision transformed our product line. The six-tie-rod system made our machines faster, smoother, and more energy-efficient. Today, our power consumption is lower, our running costs are reduced, and our output performance exceeds that of many established competitors.
How did Midas AltaTech manage to expand internationally while remaining cost-effective and high-performing?
When we entered the market, we knew we had to compete on both quality and value. Our margins were tight, so we focused on delivering greater productivity and reliability for customers. Every design improvement was aimed at achieving faster cycles, higher cavity handling, and lower operational costs. The results have been remarkable. One of our machines can now deliver the performance of three machines made by a competitor that has been in this industry for more than four decades, and yet our machines operate at nearly one-third the cost. This efficiency is what drives our global demand.
How do you see Midas AltaTech contributing to India’s Make in India mission, and what gaps do you still observe in the industry?
At Midas AltaTech, our mission is to prove that Indian engineering can match the best in the world. We aim to make Indian-built machines globally trusted for their quality, performance, and innovation. However, one major gap that continues to hold back small and mid-sized manufacturers is access to affordable financing. While companies in Japan or China can obtain loans at rates of 1.5% to 3%, in India, the rate often exceeds 12%. Despite strong government initiatives, most funding systems still evaluate past balance sheets rather than future potential. If financial policies could be restructured to support genuine innovators, India’s manufacturing ecosystem would grow much faster.
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