NRI business tycoon Lord Swraj Paul has suggested that industrialisation is key to improving economic prosperity of locals. Singur was a good beginning for the industrialisation process of West Bengal. The car project will be beneficial for the local people as it would generate employment. Caparo Engineering India, the Indian subsidiary of Caparo Group UK, is putting up an auto component plant near the main plant of Tata Motors. It will make the body structure for Tata Nano.
Vendors are ready to pull out of Singur and follow Tata Motors, said some of them, a day after Ratan Tata threatened to do so.
Lord Swraj Paul promoted Caparo Engineering India has entered into a joint venture with Japan-based Marubeni Itochu Steel Inc to set up an automotive blank manufacturing unit near New Delhi.
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