The company, which has grown inorganically through a slew of acquisitions, is just two years away from achieving its $18 billion annual revenue target.
These acquisitions will be in addition to the recently announced deal of Reydel Automotive, a supplier of interior parts.
India is a strategic market and we will continue to invest. However, currently the tax structure is very unfavourable, said Ansari.
The company collectively owes about Rs 650 crore (including interest) to a group of lenders including Oriental Bank of Commerce, Central Bank of India, Saraswat Co-operative Bank.
The biggest threat to Make in India could well be China as it threatens to dominate both the local market and where India traditionally exports cars.
Jaitley’s budget proposal to increase customs duty on specified auto parts is expected to hurt several German companies operating in India.
Bosch operates its second biggest R&D centre in India, employing more than 18,000 engineers at the Bengaluru facility.
With a slew of over 370 companies spread across 37 countries, and 25 joint ventures under its belt, the Samvardhana Motherson Group ranks among the largest auto component players in the world. And the company is aiming to become the world’s top 10 till 2020.
Earlier this year, the PSA Group signed two joint ventures in the automotive space with an initial investment of Rs 700 crore with the CK Birla Group.
The government and the Indian automakers have been working simultaneously towards reducing the emission by adopting electric vehicles and other alternate clean fuel
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