Luxembourg based ArcelorMittal, the world’s largest steel making company, is planning to set up a research and development center in India according to its CEO,Laxmi Mittal. ArcelorMittal has twelve R&D centers across the world with a budget of $250 million. India will be the thirteenth location and the company has yet to choose the city, see video below.
Mittal CEO on India’s New Delhi Television
Western companies are driven to setup captive R&D centers in India such as this one, not only because of low-cost labor, but also because of the need for flexibility and for access to local and regional markets in India and neighboring countries. It is not an easy task, in fact my company holds webinars on the subject of setting up captive R&D centers in India.
