Ford Motor Pvt Ltd has got the government’s green signal to set up a global technology and business centre in an IT/ITES Special Economic Zone (SEZ) in Tamil Nadu which will include a research and development unit and a latest product testing centre.

The Centre has given permission to the company to be a co-developer in the IT/ITES SEZ being developed by the Electronics Corporation of Tamil Nadu Ltd, a wholly-owned government of Tamil Nadu undertaking, at Sholinganallur near Chennai, where the proposed centre will come up.

“The company’s intention to set up a technology and business centre is in line with its expansion plans in India. It seeks to provide global business services in the areas of IT, product engineering, finance and accounting, data analytics and manufacture at the technology and business centre to be developed,” a government official told BusinessLine .

The US-based Ford Motor’s CEO Mark Fields, during his India visit last year, had said that the company’s vision is to make India its export hub. “We want India to become a global centre of excellence for small vehicles, small cars and small displacement engines,” he said.

“After deliberations, the Board approved the proposal of Ford Motor Pvt Ltd as co-developer for developing IT/ITES services related to automotive, finance and allied sectors for setting up of Ford’s global technology and business centre….over an area of 28 acres,” according to the minutes of the Board of Approval for SEZs recent meeting.

Developing the centre as part of a SEZ will make the company eligible for all tax concessions available for investments in the zones.

Ford Motor provides support services to Ford offices around the world, while Ford India Pvt Ltd, makes and sells Ford vehicles in the country.

Ford has invested over $2 billion in India to set up two plants, one in Chennai and a recent one in Sanand, Gujarat. It exports cars manufactured in these two plants to over 50 countries.

Related Topics
comment COMMENT NOW