AP Gets a ₹1,000 Cr Boost: Raymond Group Enters Aerospace

Raymond Group is set to invest approximately ₹1,000 crore to establish two global manufacturing units in Andhra Pradesh’s Anantapur district, marking a significant expansion into high-precision engineering.

The two projects—an aerospace facility in Gudipalli and an automotive components unit in Tekulodu—have received approval from the State Investment Promotion Board (SIPB) and are expected to generate around 5,400 jobs in the region.

This strategic move follows Raymond’s 2023 acquisition of a controlling stake in Maini Precision Products (MPPL), signalling the group’s formal entry into the aerospace sector.

JK Maini Global Aerospace, Raymond’s aerospace arm, will invest ₹510 crore in a 47-acre facility at Gudipalli, backed by ₹380 crore in government incentives.

JK Maini Precision Technology, the automotive division, will see an investment of ₹430 crore, with ₹314 crore in state incentives, and is projected to create over 4,096 jobs.

Both ventures will benefit from a total of ₹695 crore in state government support, reinforcing Andhra Pradesh’s position as an emerging hub for advanced manufacturing and aerospace engineering.

This expansion marks a major milestone in Raymond’s diversification strategy, as the group leverages its legacy and new acquisitions to tap into global precision engineering markets.

News by Rahul Yelligetti.