''At present, we plan to invest Rs 300-400 crore in India for servicing our clients in the automotive market. We may increase the number of plants we will set up in India if we see more potential,'' the Caparo Group's Chief Executive Officer and Swraj Pa ul's son, Angad Paul said.

''India can be a quality manufacturing base for the world. Later, we may start making engineering goods for the aerospace industry. Right now, we are not ruling out any other sector that requires our engineering expertise,'' he said.

The plants will come up in Uttar Pradesh, Madhya Pradesh, Rajasthan and Haryana.

The $750 million Caparo group, chaired by the London-based NRI industrialist, is setting up the new plants at Chipanki (Rajasthan), Bawal (Haryana), Greater Noida (UP) and at Indore where it already has a similar manufacturing unit.

The Bawal plant is a joint venture with India's leading car manufacturer Maruti like the existing manufacturing unit at Gurgaon (Haryana).

For the remaining two plants, the company is still scouting for sites, he said.