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Birla Precision to ramp up capacity to tap emerging opportunities in India

To start with, the company plans to invest up to Rs 30 crore in the next one year to ramp up its drill manufacturing capacity under its cutting tools division.

February 28, 2021 / 11:25 AM IST
Representative Image

Representative Image

With a shift in the global supply chain amid the pandemic and companies looking beyond China for sourcing, auto component firm Birla Precision Technologies Ltd is ramping up its capacity to tap emerging opportunities in India, according to a top company official.

To start with, the company plans to invest up to Rs 30 crore in the next one year to ramp up its drill manufacturing capacity under its cutting tools division.

"India is going to become quite a big player in the automotive supply chain globally. People are wanting to switch their supply chain more and more to India as time progresses, immediately coming out of COVID scenario," Birla Precision Technologies Chairman and MD Vedant Birla told PTI.

The anti-China sentiment in the wake of the pandemic, supply constraints faced during the peak of the health crisis and trade tension between China and the US have contributed to a shift in the global supply chain.