NRI industrialist Lord Swraj Paul-founded Caparo Group announced on Thursday the appointment of Arun Purwar, former chairman of State Bank of India, as a non-executive director.
Purwar was chairman of SBI between 2002 and 2006. During his career at India's largest bank, Purwar held several senior positions including managing director of the State Bank of Patiala and Chief Executive Officer for Tokyo.
He was responsible for computerising all 13,400 branches of the State Bank Group and for exploring alternative channels such as internet banking.
Angad Paul, Caparo's CEO, said Purwar's appointment 'demonstrates the importance of Caparo's Indian operations in the group's future
growth strategy'.
Lord Swraj Paul adds: "His passion to transform and develop, and his reputation for innovative thinking, will be invaluable as Caparo make significant new investments in India and South East Asia".
Focussed on four regional centres in India, Caparo currently operates on 15 sites and plans to develop a further 16. Caparo's activities in India are focused on the automotive components sector and products include pressings, fasteners, aluminium castings, forgings, tubing and tubular components.
Caparo India has also begun the manufacture of suspension and chassis components and is investing heavily in a Research and Development facility, including tool and die design manufacture.
