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'India target of my firm's expansion'

NRI industrialist Lord Swraj Paul says India is the target for future expansion of Caparo group of industries.

india Updated: Dec 12, 2006 12:09 IST

NRI industrialist Lord Swraj Paul, Chairman of the $1.5 bn Caparo group of industries, has said India is the target for future expansion of the company and its operation will expand there from current five per cent to around one third of the total business.

"Sixty per cent of my business is in Britain, thirty five per cent in the US and, so far, less than five per cent is in India. However, India is the target for future expansion," Lord Paul, British Ambassador for Overseas Business said in an interview published in the latest issue of 'Manufacturer'.

The reputed monthly, promoting best practice in manufacturing, carried the article with his photograph on the cover, with a title 'Empire building' - Lord Paul talks on Caparo, Cars and Cultures.'

Lord Paul, 74, said seven plants have been built in India in the last three years and nine more are under construction. "The Indian operation will expand to around one third of the company's total business," he said.

Describing him as an Indian born Brit, the magazine narrates how Jalandhar-born Swraj Paul built his family empire brick by brick, currently employing over 5,000 people worldwide. Its size in the UK has grown from 2,000 to around 3,000 in the last three years alone.

The magazine observed that Lord Paul's enthusiasm for the company's newest project, the Caparo TI, is infectious. "It's a racing car, but also designed for the roads. It will be a two-seater, with a little place in the back, like the Aston Martin," Lord Paul said. And it will retail at around 200,000 pounds.