India Pulls in Global Brand ‘Cepsa’, Thanks to Another ‘Make in India’ Initiative

The International Monetary Fund (IMF) has recorded India as the fastest-growing major economy. The nation’s growth rate has been projected above 7% till 2020.

India Pulls in Global Brand ‘Cepsa’, Thanks to Another ‘Make in India’ Initiative

India has pulled in Cepsa and Global Energy Private Limited (CPL) to manufacture and market Cepsa branded marine lubricants through its ‘Make in India’ initiative. Another global conglomerate to its expanding kitty. GP Global Group, India’s head M Prabakaran said this exclusive partnership will strengthen Cepsa’s international brand.

“India is a huge market for port modernization and coastal shipping development. This partnership is our contribution to the governments ‘Make in India’ vision and the vibrancy of the sector is a clear sign of resurgent interest in its potential.”

Carlos Giner, Cepsa’s Director of Lubricants, Base Oils and Paraffin Waxes said the partnership will strengthen their in-house R&D facilities at GP Global and develop technologically advanced products in India.

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Currently, Cepsa marine and power generation lubricants and other lubricants are exported from Spain to different countries. Giner said the partnership with GP Global will provide the necessary framework to enter into the Indian market.

“GP Global Energy will be manufacturing the marine and power generation lubricants through a contract with its group company GP Petroleum Limited at their plant in Vasai, Mumbai. This plant has state of the art R&D and QC facility for product development and consistency.”

Make in India’ is the present India government’s baby, so to say. This initiative was launched by Prime Minister Narendra Modi in 2014. It is designed to facilitate investment, foster innovation, enhance skill development and build the best in class manufacturing infrastructure in India. Undoubted, the initiative has imprinted a positive image of the Indian economy on the global platform.

It has attracted smartphone giant Samsung. In 2015, Spice Group announced a Rs500 crore investment to set up a manufacturing plant in Uttar Pradesh. And more are global brands are showing keen interest. A plus for India’s growing economy.