Pricol Technologies ties up with U.S. firm The Hindu at 2nd June 2005 Pricol enters IT consultancy The Economic Times at 17th August 2005 The global manufacturing chain Pricol Tech ties up with Blue Ridge The Economic Times at 3rd June 2005 Pumpset Sector goes in for IT Design The Hindu at 22nd December 2005 Pricol Tech forays into product development The Hindu at 13th June 2006 The global manufacturing chain MAHINDRA & Mahindra has just cleared a $100-million investment in a first-of-its-kind Mahindra Research Valley Project. It could come up in either Chennai or in the Mumbai-Pune cluster. There will be several research centers in this hub-engines, transmission, chassis, body & hydraulics, fuel labs, etc. The plan is to fill this research hub with 1,500-2,000 automotive research professionals and engineers. There will even be efforts to attract global automotive research and engineering talent to live and work in this valley. Hemant Luthra, president, Mahindra Systems & Automotive Technologies, believes this investment is the key towards unlocking the full potential of the global acquisitions he plans to make. A bulk of the offshorable R&D work in the acquired companies will be moved to the research valley. But, the front-end and client interface of the acquired companies will remain intact. He is following a simple logic: a billion-dollar global auto components business (that he hopes to build) will be held together by cutting-edge research that will be done in the Mahindra Research Valley. How well the global acquisitions synergies with the Indian research investments may well determine how successful the Mahindras are going to be. This is a point that is often missed-global acquisitions have to be backed by matching investments within India. For every dollar spent in global acquisitions, Indian companies will probably have to spend at least 50 cents in upgrading their capabilities in India. The Mahindras are not the only ones doing that. The Amtek Group has spent over $120 million in global acquisitions. But it is matching it with a $70-million investment in its India operations.