Emerging reports says British motorcycle manufacturer Triumph's plans to set up a manufacturing unit in Narsapura, Karnataka with an investment of Rs. 850 crore have been called off due to the state government's uncooperative approach.
The iconic British motorcycle brand, Triumph Motorcycles India, has decided to pull back its investments in the state and is now looking to shift to Haryana, reports Bangalore Mirror. The bike maker entered India in 2013 and proposed a bike manufacturing plant on a 30-acre plot at Narasapura industrial area in Kolar district. About 2.5 lakh motorcycles were planned to be produced annually at the plant.
The company also paid advance amount for the land acquisition to the Karnataka Industrial Areas Development Board (KIADB). However, issues with land acquisition reportedly delayed the project and led to the exit of Triumph from the state.
The company is expecting to clock 20-25 percent sales growth in the country in 2017, according to Livemint. With sales of over 3,000 unit motorcycles in the past 30 months, Triumph Motorcycles is second in the domestic superbike market, after the American cruise bike maker Harley Davidson at present. To attain better results, the company has reportedly decided to strengthen its assembling base at Manesar in Haryana.