Caparo group plans to set up manufacturing plant in India
New Delhi: Acting on Prime Minister Narendra Modi's ‘Make in India' campaign, Lord Swaraj Paul's Caparo group plans to set up a manufacturing facility in India to produce its range of luxury mattresses by end of next fiscal.
“We plan to set up a manufacturing facility for mattresses in Bawal in Haryana by end of year 2015. We want to build the plant that has the right scale and right skill,” Caparo India Chairman Angad Paul told PTI.
Paul did not share details of investment the company will be making in the new plant.
At present, Caparo's luxury mattress range ‘Dream Catcher' priced between Rs. 1 lakh to Rs. 20 lakh, is imported from UK.
The company, which has opened an exclusive showroom in Gurgaon, plans to open more showrooms in metros and mini metros in the coming months, the company said in a statement.
When asked if the company is looking at launching cheaper version of the mattresses, Paul said that it will not compromise with quality to sell a lower priced product.
Caparo, which has a business partnership with UK's Harrison Spinks to make mattresses, also plans to export made in India mattresses across the world.
Praising PM Modi, Paul said: “This government is following a path of being much more fair, which is what I consider important. It is, at least right now, looking at making a proper stab at corruption and patronage, which is essential for this country's progress.”
Caparo Group designs and manufactures value-added steel and engineering products for the automotive, aerospace, transport, infrastructure and defence sectors.