The investment of Rs 38 crore has been made as a part of an initiative to help accelerate the company's business and support R&D to respond faster to local product development needs, a company statement said here.
"These initial steps are first in a broader strategy to invest and develop our capabilities in India in order to better serve our customers and provide them with the high quality products and superior technical support they need to be successful in growing their business," CCIL Managing Director & Vice Chairman Deepak Parikh said.