India’s leading consumer electrical and lighting company Bajaj Electricals is investing about Rs 12 crore to expand the capacity of its plant at Kosi, Mathura in Uttar Pradesh.
The company has two units at Kosi and Shikohabad (Firozabad district) to manufacture lighting products.
“The capacity expansion would materialise by the next month,” Bajaj Electricals Chairman and Managing Director Shekhar Bajaj told Business Standard here.
While the Kosi unit is spread over 13 acres, the Shikohabad plant spans over 85 acres and has been up and running since 1951.
“We are willing to invest more in our Uttar Pradesh plants to manufacture other products as well if the state government offers sops to match the incentives given by other states,” he added.
The turnover achieved by the two UP units is likely to touch Rs 100 crore in the current financial year.
“UP has huge potential for investment given its large consumer base. But, the state government must inspire confidence about its investment climate by providing better law and order, power, infrastructure and faster clearances,” Bajaj said.
Referring to Gujarat, he said that in practice, the single window system existed only in Gujarat, where fresh investment applications got cleared in three-four months as compared to much longer time-frame in other states.
“Today, states are competing among themselves to secure greater investment pie. Investment would always tend to flow to the most viable option,” he said.
Meanwhile, he inaugurated the company’s new office in Lucknow. Bajaj Electricals is eyeing a turnover of Rs 4,300 crore in the current financial year.
“The consumer electrical and lighting segments are growing by 15 per cent and 20-23 per cent respectively,” he added.
