Triumph Motorcycles India, a completely owned subsidiary of iconic British brand, Triumph Motorcycles has decided not to go ahead with their plans of setting up a plant in the state of Karnataka.
Triumph Motorcycles India had planned a new bike manufacturing plant in Kolar district in Karnataka with investments to the tune of INR 850 crores in two phases. Uncooperative approach from the government has resulted in the company moving its plans to set up base in Manesar, Haryana.
The British bike maker had planned a 30 acre plot at Naraspura Industrial Area in Kolar and plans were on track to set up a manufacturing plant with capacity to produce 250,000 high-performance bikes per annum while it would create job opportunities for a host of people in the region.
An advance of a certain sum of money was paid for this purpose to Karnataka Industrial Areas Development Board. Even as the project had received clearance in 2012, it had been stuck in red tape causing much delay in getting the project off the ground and a hardship to the bike maker. Annoyed with the state government’s apathy in dealing with these issues in a timely manner, Triumph Motorcycles has asked for a refund of investments and will be moving to Manesar, Karnataka.
Karanata is home to some automotive manufacturing plants. Scania and Volvo are few of them.Besides Triumph Motorcycles India, sources also state that there are as many as four other investors who have withdrawn investments from Karnataka all for the same reason.
At the same time, states like Andhra Pradesh and Telangana are wooing investors with an aggressive approach. Amazon has moved its investment project from Bengaluru to Hyderabad while Microsoft has also chosen the same state to establish its major operational base.
Triumph Bonneville Street Twin
via economictimes
