Raymond Group to invest ₹1,000 crore in aerospace, auto units in Andhra

The Raymond Group will set up two global manufacturing units in Anantapur district in Andhra Pradesh at a cumulative investment of around ₹1,000 crore. This strategic move is set to significantly strengthen the company’s foothold in the aerospace and automotive sectors.

The aerospace manufacturing unit is slated for Gudipalli, while the automotive facility will be established at Tekulodu within the same district. These ventures are expected to generate approximately 5,400 jobs, supported by government incentives totaling ₹695 crore.

The State Investment Promotion Board (SIPB) has already cleared the proposals, marking a high-precision engineering expansion into auto and aerospace components.

For the automotive business unit at Tekulodu, the state has cleared specific incentives worth ₹314 crore for JK Maini Precision Technology, part of a total investment of ₹430 crore. This specific project alone is anticipated to provide direct employment to over 4,096 people.

The Raymond Group's entry into this high-tech space follows its 2023 acquisition of a controlling stake in Maini Precision Products (MPPL), signaling a long-term commitment to high-precision engineering in the region.