Just as the the VIII BRICS Summit came to a closure, Brazil inaugurated its first “Make in India” initiative. The Brazilian Perto S. A., a Digicon Group company, a high technology and IT company and the world’s leading manufacturer of Automatic Teller Machines (ATMs) and Cash Dispenser Machines (CDMs), inaugurated its first plant in India, in the Mahindra World City in Jaipur on October 19.
“As we launch the Perto factory in Jaipur, we undoubtedly take another significant step towards a solid commercial and investment relationship, based on high technological content and added value, setting a model to be followed”, said Brazilian Ambassador Tovar da Silva Nunes at the inauguration.
Rajasthan Minister of Industries Gajendra Singh Khimsar, Founder of Group Perto/Digicon, Joseph Elbling; the CEO of the group, Thomas J. Elbling and the CEO of Perto India, Roberto Baur were also present on the occasion.
The factory in Rajasthan, which has international regional export potential, was entirely built with green field direct investments, on a 100.000 square metre plot. According to Perto’s research, the potential for the Indian Market is estimated at over 500,000 ATMs. India today has only 195,000 ATMs, only 40 per cent of its potential. The manufacturing facility in Rajasthan required an initial investment worth $3.1 crore, that may exceed $6.5 crore. The investment is expected to generate direct employment for highly skilled and skilled labour, and generate demand for local quality services and suppliers.
“The VIII BRICS Summit and its related events in the economic area set the tone for the new trade and investment relations between Brazil and India. Without neglecting traditional sectors of Indian economy, the investment represents a new look ahead, with diversification of actions. The mutually beneficial partnership is getting out of the treaties, agreements and projects and landing on the factory floor,” according to Ambassador Nunes.
Source: Economic Times
