 "trade deficit")
US-based Carr Lane Manufacturing and Chennai-based Rialto Enterprises Pvt Ltd, part of the Rs 600 crore Rayala Group, have entered into a joint venture to produce specialised aerospace components, initially to export products to Carr Lane's international market.
"Carr Lane Manufacturing has recognised an opportunity to not only control production costs through product sourcing from India, but also a market within India for India products," said Colin Frost, COO of the $50 million tooling company, Carr Lane Manufacturing. He added that during the first three years, most of the production from India will cater to exports.
The new 70:30 JV will start
