The Caparo Group, led by UK-based business magnate Lord Swaraj Paul, is investing in a car and aerospace components manufacturing facility in Andhra Pradesh. The emerging Indian car market has been luring many foreign car component manufacturers.
The group is set to invest Rs. 3,500 Crore to lay down a Special Economic Zone (SEZ) in a small district near Andhra Pradesh. They have already singed the MoU (Memorandum of Understanding) with the state government.
Good news for the country as work is expected to start by March this year and the new venture promises to create as many as 10,000 job opportunities.