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From Campodarsego to Bombay Stock Exchange: The Carraro India Story
As the Italy-based Carraro family raises Rs 1,250 crore from the Indian equity market, Shahkar Abidi traces the growth of the eponymously named auto components manufacturer.
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Sometime in 1997-1998, Carraro S.p.A., the Italian manufacturer of tractor and construction equipment components, planted its roots near Pune, India through a joint venture with Escorts Ltd. This marked the company’s first foray into the subcontinent.
Back then, the assembly plant operated on a single shift, wrapping up by 5 p.m., and a peculiar nightly ritual followed: the emergency exit was locked the moment the last worker left the floor. The rationale for this seemingly paradoxical practice: Inside the assembly area lay a treasure trove of valuables—copper seals and brushes among others—prized for their value in the scrap market. ...
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