Raymond to invest ₹1,000 crore in Andhra Pradesh
Raymond Group is pumping ₹1,000 crore into Andhra Pradesh to build new aerospace and automotive manufacturing units in Sri Satya Sai district.
The move is set to bring over 5,400 direct jobs for locals, with the state government backing the projects and offering ₹700 crore in incentives under its latest industrial and aerospace policies.
Subsidiaries spearheading the projects
Raymond's subsidiaries are leading the charge: JK Maini Global Aerospace Limited will set up an aerospace facility (₹510 crore, 1,400 jobs), while JK Maini Precision Technology Ltd. is launching an automotive components unit in Gudipalli (₹430 crore, 4,096 jobs).
Both are aiming to start operations by May 2027.
This is also Andhra Pradesh's first big step into aerospace manufacturing under its new policy, with project approvals already in place.