India continues to attract hordes of
car manufacturers; another Italian firm VM Motori has joined the bandwagon. The company is planning to establish an engine manufacturing facility in
India. The total production is estimated to be 40,000 engines annually.
VM Motori would cater to car manufacturers and other vehicle segments as well. The initial investment is expected to be Rs 88 Crore. Presently the company is scouting for an Indian partner and trying to finalize a partnership deal. The company wants to have an equal presence in north and south India. Another step forward in India’s evolution of turning into a car manufacturing hub.
Labels: Foreign Investment, Italian
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.
Labels: Car-components, Foreign Investment, Jobs, UK-based
