General Motors India has announced its plans to source auto parts from India for next two years with an indicative total value of a billion dollars. We had earlier reported on GM's India expansion plans - the company has announced that it is to triple its production capacity by 2013. Clearly, increasing its auto parts manufacturing is imperative in that aim.
General Motors India is expected to set up a new plant in Gujarat which will produce one lac units, as stated by company’s officials earlier. The growing clout of GM in India has made them plan ambitiously now. Indeed, GM has performed impressively in a much needed time with the company emerging from its struggles in the United States also. The year 2010 turned out to be the most profitable year for the company in India, in which it recorded 59 percent of growth, with still a month left to take it higher.
In an international press meet, Tim Lee - President Operations, International for GM, expressed company’s interest towards the growing markets, especially India. He said “We are working hard to hold a better grip on growing markets like China, Brazil, India and Russia, now the company’s approach has changed and we are in no mood to ignore the rising economies.”
He also added that GM is working on bringing the best available technologies locally, to keep up the high profitability.
