Major Indian suppliers to invest USD745 million in capacity expansion – report
Companies investing in both capacity expansion as well as capability building
On the back of recent improvement in the vehicle demand outlook in India, many Indian automotive suppliers now plan to revive investment plans that they held back in the past. According to The Economic Times, major tier-1 suppliers such as Varroc, JBM, NBC Bearings, Rico Auto and Vikas Group, have lined up fresh investments to the tune of over INR50 billion (USD745 million) to meet the expected surge in demand for their products.
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