Indian company eyeing to capitalize on UK's low interest rates

London, Oct 3(ANI): An Indian company which makes wing parts for the Airbus A320 is planning to expand its operations in Britain because of the low interest rates in the country.

Dynamatic Technologies, which has its headquarters in Bangalore, employs 250 workers in Swindon and Bristol.

"Labour is cheaper in India, but capital costs are lower in the UK because of the interest rates. In India, interest rates are 12 per cent," The Daily Express quoted Toby Malhotra, Dynamatic Technologies' owner, as saying.

The company makes beams, which support the wing flaps on the A320.alhotra further said that the strength of the team working on the project in Swindon would be increased from 50 people to 100 or even 150.

Dynamatic Technologies had earlier taken over some of BAE Systems' work for the European aircraft consortium after the British defence giant pulled out. (ANI)