Parts-maker Carraro India to invest €20m in Pune plant

Auto component-maker Carraro India plans to invest around 20 million euros to upgrade its operations and expand capacity in India, which accounts for 17 per cent of its total business, over the next four years.

The Italy-based Carraro Group is a leader in transmission systems for off-highway vehicles and specialised tractors and has plants across the world, including in Italy, India (Ranjangaon), Argentina, China, South Africa and Brazil.

In the past 20 years, the group has invested a little over 101 million euros in the country.

"Between now and 2023, we intend to invest around 20 million euros to upgrade our operations and expand capacity," group vice-chairman Enrico Mario told reporters here on the occasion of its two decades of operations in the country.

Carraro is also setting up a second plant within the existing facility, which will allow it to enhance the current capacity, he said, adding the second unit, spread over an area of 7,300 sqm is expected to be completed by 2022.

"The capacity expansion will allow us to expand our capabilities towards new products such as portal axles, specifically designed for India," he added.

He said India is, and will remain, an essential point of reference for the entire group. India contributes 17 percent of the group revenue now, making it their first destination market.