Swraj Paul plans six new ancillary plants in India
NRI industrialist Lord Swraj Paul said he is "very bullish" about India and his Caparo group is planning to add six new auto ancillary plants in the country in the coming months.
"At the moment the opportunities in India are fantastic and the best thing about this country is that it has a Prime Minister now who is of high integrity and most importantly someone who maintains his integrity," Paul said in an interview to fortnightly magazine Business & Economy.
"I think India can be a competitive manufacturing country, a sector which the country ignored after its success in the financial and IT sector," he said.
The Caparo Group is already running four plants in India, Paul said adding six plants are coming up. The plants here cater to the needs of Honda, Maruti, General Motors, Ford and Volvo amongst others.
With business interests in steel, auto components and ancillary and movies of late, the Caparo Group is today a 1.3 billion dollar group spread across Britain, Spain, US, Canada and India.
Justifying his investment plans in India, especially in comparison to China, Paul said, "India can surely be a competitor to China as well as supplement that country."
In UK, his plants are into a much larger variety of steel production facility employing 4,500 people. The group is the largest single-owner business in Britain.
The group, in UK, is into hotels, IT and high value designer furniture.