Anand Group to Invest INR 987 Crore in Tamil Nadu for Auto Manufacturing Expansion, India

Date:

Updated: 1:49 PM, Mon January 15, 2024

New Delhi: Anand Group, in collaboration with its joint venture partners, is set to invest INR 987 crore in the state of Tamil Nadu to expand its manufacturing capabilities. The investment was announced through the signing of a Memorandum of Understanding (MoU) with the state government, at the recently concluded Tamil Nadu Global Investors Meet 2024 in Chennai.

Under the MoU, Anand Group and its joint venture partners, including Inalfa Gabriel Sunroof Systems Private Limited, HL Mando Anand India Private Limited, Gabriel India Limited, HL Klemove, and Anand Mando E-Mobility Private Limited, will focus on expanding manufacturing capacities for various auto components. This includes sunroof systems, electronic power steering, integrated dynamic brake systems, and e-motors for two-wheeler applications.

The signing of the MoU took place in the presence of Tamil Nadu’s Chief Minister, M K Stalin. This strategic move aligns with Anand Group’s commitment to utilizing advanced technology to meet the growing demand for electric vehicles (EVs) as well as internal combustion engine (ICE) vehicles in the country.

Anjali Singh, Executive Chairperson of Anand Group, expressed the group’s longstanding commitment to Tamil Nadu and commended the favorable business environment, strong infrastructure, and skilled talent pool offered by the state. Singh also emphasized the group’s intention to leverage the strengths of its partners to provide cutting-edge manufacturing capabilities to Original Equipment Manufacturers (OEMs).

Anand Group is a key supplier of technology-driven parts to renowned OEMs such as Hyundai, Tata Motors, Mahindra, TVS Motors, and OLA Electric. The current MoU reaffirms the group’s dedication to supporting the government’s Atmanirbhar Bharat initiative by focusing on the localization of critical components.

S Sarathi, Group President and Chief Assurance Officer of Anand, expressed delight in announcing these new projects in Tamil Nadu, often referred to as the Detroit of India. This collaboration marks the fourth time that Anand Group has signed an MoU with the Tamil Nadu State Government, showcasing the government’s proactive approach to foster a favorable industrial climate and ease of doing business.

Over the years, the Anand Group, through its joint ventures, has created more than 6,000 job opportunities in Tamil Nadu. The latest investment is expected to generate over 2,000 additional job opportunities over the next seven years. The successful execution of earlier MoUs signed in 2019 and 2020 has already resulted in the investment of approximately INR 1,000 crore and the creation of employment opportunities for more than 500 people in the region.

In summary, Anand Group’s significant investment in Tamil Nadu reflects its commitment to leveraging advanced technology and meeting the increasing demand for auto components in the country. The collaboration with joint venture partners aligns with the government’s focus on self-reliance in manufacturing. This strategic move not only strengthens Anand Group’s position as a leading manufacturer of auto components but also contributes to job creation and economic growth in the region.

Frequently Asked Questions (FAQs) Related to the Above News

What is Anand Group's plan for investment in Tamil Nadu?

Anand Group, in collaboration with its joint venture partners, plans to invest INR 987 crore in Tamil Nadu to expand its manufacturing capabilities for auto components.

Which auto components will Anand Group focus on manufacturing?

Anand Group will focus on manufacturing sunroof systems, electronic power steering, integrated dynamic brake systems, and e-motors for two-wheeler applications.

Who are the joint venture partners of Anand Group?

Anand Group's joint venture partners include Inalfa Gabriel Sunroof Systems Private Limited, HL Mando Anand India Private Limited, Gabriel India Limited, HL Klemove, and Anand Mando E-Mobility Private Limited.

When was the investment announced?

The investment was announced through the signing of a Memorandum of Understanding (MoU) at the recently concluded Tamil Nadu Global Investors Meet 2024 in Chennai.

Who was present during the MoU signing?

The MoU signing took place in the presence of Tamil Nadu's Chief Minister, M K Stalin.

Which OEMs does Anand Group supply its auto components to?

Anand Group is a key supplier of technology-driven parts to OEMs such as Hyundai, Tata Motors, Mahindra, TVS Motors, and OLA Electric.

How does this investment align with the government's initiatives?

This investment aligns with the government's Atmanirbhar Bharat initiative by focusing on the localization of critical components and supporting the growth of the auto manufacturing industry in India.

How many job opportunities are expected to be generated by the investment?

The investment is expected to generate over 2,000 additional job opportunities over the next seven years, building upon the 6,000 job opportunities already created by the Anand Group in Tamil Nadu.

How has Anand Group previously invested in Tamil Nadu?

This collaboration marks the fourth time that Anand Group has signed an MoU with the Tamil Nadu State Government. Earlier MoUs signed in 2019 and 2020 have already resulted in investment of approximately INR 1,000 crore and the creation of employment opportunities for more than 500 people in the region.

Please note that the FAQs provided on this page are based on the news article published. While we strive to provide accurate and up-to-date information, it is always recommended to consult relevant authorities or professionals before making any decisions or taking action based on the FAQs or the news article.

Shreya Gupta
Shreya Gupta
Shreya Gupta is an insightful author at The Reportify who dives into the realm of business. With a keen understanding of industry trends, market developments, and entrepreneurship, Shreya brings you the latest news and analysis in the Business She can be reached at shreya@thereportify.com for any inquiries or further information.

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