British medical device conglomerate Smiths Medical said Monday it will launch a subsidiary in Mumbai, India.

The new branch will invest in developing and promoting products geared toward the Indian market, the company said.

"India is one of the most dynamic health care markets in the world," said Smiths' president Srini Seshadri, in a statement.

Smiths' Indian operations will be run by Ashwin Benegal, who joined Smiths two years ago.

The device company said it has had a presence on the subcontinent for more than two decades, through its distributor network. Its global headquarters are in Kent, U.K.

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