Embassy of India

Belgrade

Press Release

India’s Excel Industries Limited  buys manufacturing company Blok Signal doo, Nis

          The Indian company Excel Industries Limited, part of Excel Group with headquarters in United Arab Emirates, has bought the Nis-based factory Blok Signal d.o.o.  With an initial investment of Euro 1 million, the company is said to manufacture railway equipment  such as railway posts, light signals, railway signs etc. and waste management equipment, namely garbage containers, truck containers, conveyor belt etc. The company which was earlier part of Serbian MIN Holding (Machine Industry Nis), was privatized in 2003 and had closed down two years ago. The laid off technical staff has been re-employed.

2. H.E. Mrs. Narinder Chauhan, Ambassador of India to the Republic of Serbia attended the official opening of company on 28^th May 2017. 
3. Another Indian company based in UAE, namely M/s Mulk Holdings have invested in aluminum panel manufacturing facility “Alubond Europe” based in the town Banatski Karlovac.
4. Among the first Indian investments in Serbia is the USD 20 million IT Park in Indjija by Embassy Group.  Indian tractor manufacturers TAFE, Mahindra, Sonalika have invested in export/assembly of Indian tractors in Serbia through local partnerships. Indian pharma companies Ranbaxy (Medico Uno, Belgrade), Panacea Biotec (UTI Ltd. Co., Belgrade) and Himalaya Herbal Co. (A-Lek, Belgrade) have their representative offices in Serbia. Other major pharma companies such as Cipla, Jubilant Life Science, Biocon Ltd, Dr Reddy’s, Glenmark Generics, Lupin, Torrent Pharma, Orchid Chemicals and other are exporting readymade products and pharma formulation to Serbia. All major Serbian manufacturers of medicines are importing raw materials and formulation from India.

Place: Belgrade
Date: June 05, 2017