Caparo Group to invest Rs 1,000 cr in India

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NRI industrialist Swraj Paul-led Caparo India said it plans to invest Rs 1,000 crore in the Indian market over the next three years to become the largest automotive technology company in the country.

"The company will invest Rs 1,000 crore over the next two to three years time. We plan to rake in USD 500 million sales from the country by then," Caparo India CEO Angad Paul told reporters at the 9th Auto Expo.

The company has already invested Rs 1,000 crore in the country toward setting up 22 manufacturing facilities, including in Pune, Chennai and Singur in West Bengal.

Paul said the company would review the investment figures as and when required. The investment would be made in setting up manufacturing units near the existing ones in Chennai and Singur as also in expanding capacity at the Pune unit.

A major portion of the USD 1.5 billion revenues of Caparo Group comes from the UK and US. India accounts for about USD 150 million. "In future, we would like that all the three regions contribute equally to our revenues," Paul said.

Asked about its planned compact car concept, he said the group is open to bringing it to the Indian market. The group is in the process of introducing a ‘city car’ concept in Europe by this year-end, where Caparo would provide the design and assembling services to carmakers.