ANAND Group has recently unveiled an investment amounting to INR 987 crore in the state of Tamil Nadu during the Global Investors Meet of 2024. The Memorandum of Understanding (MoU) inked between ANAND Group and its collaborative partners in the Joint Venture reflects the company’s aims to augment its manufacturing abilities within the geographical expanse of the region.
The ANAND Group is an automotive component manufacturing conglomerate. With a legacy spanning several decades, the group has established itself as one of the global players in the automotive industry. With its headquarter in India, ANAND operates across diverse sectors, including automotive systems and components, providing cutting-edge solutions to renowned automobile manufacturers worldwide.
The allocated investment proposed by ANAND is slated for the advancement of manufacturing facilities dedicated to cutting-edge technological products catering to both Electric Vehicles (EVs) and Internal Combustion Engine (ICE) Vehicles. The collaborative efforts in this project involve esteemed Joint Venture Partners, namely Inalfa Gabriel Sunroof Systems Private Limited, HL Mando Private Limited, Gabriel India Limited, HL Klemove, and ANAND Mando E-Mobility Private Limited.
In the presence of Tamil Nadu’s Chief Minister, Thiru M K Stalin, a Memorandum of Understanding (MoU) has been formalized, marking a pivotal step in ANAND Group’s strategic approach to harness cutting-edge technology in response to the escalating demand for both Electric Vehicles (EVs) and Internal Combustion Engine (ICE) Vehicles across India.
This collaborative effort is distinctly aimed at enhancing manufacturing capabilities to cater to the burgeoning market needs, with a primary focus on the production of vital automotive components. These components include but are not limited to, Sunroof Systems, Electronic Power Steering, Integrated Dynamic Brake Systems, and E-Motors tailored specifically for two-wheeler applications.
ANAND Group’s Executive Chairperson, Anjali Singh, has reiterated the company’s enduring dedication to Tamil Nadu, underscoring the advantageous business climate, well-established infrastructure, and a highly skilled talent pool within the state as pivotal elements. This strategic decision aligns with ANAND Group’s overarching pledge to actively contribute to the realization of the Central government’s Atmanirbhar Bharat initiative, aimed at fostering self-reliance in the manufacturing sector.
The company’s sustained focus to Tamil Nadu reflects its recognition of the state’s conducive environment for business operations, fortified by robust infrastructure and a rich pool of skilled professionals. The investment initiatives also contributes a lot in solidifying ANAND Group’s role as a proactive participant in the national self-reliance agenda.
ANAND Group, a key supplier of technological components to leading Original Equipment Manufacturers (OEMs) such as Hyundai, Tata Motors, Mahindra, TVS Motors, and OLA Electric, holds a history of fostering employment opportunities in Tamil Nadu. The infusion of their latest investment is anticipated to yield more than 2,000 job openings within the region over the span of seven years, thereby making a substantial contribution to the economic advancement of Tamil Nadu.
S Sarathi, the Group President and Chief Assurance Officer at ANAND, expressed contentment with the positive industrial environment and the business-friendly atmosphere fostered by the Tamil Nadu government. The company is pleased with the favorable conditions that have made conducting business more seamless.