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South Korean auto-parts makers are looking for Indian companies to launch an Indian joint venture, a senior official said at the Confederation of Indian Industry’s Gujarat Auto Show 2014 that began here on Friday.
Edward Chang, Secretary General, Indian Chamber of Commerce in Korea, said Korean auto companies are “very eager” to grab the opportunities available in the Indian market. Till now, no Korean company has established its presence in this market. “Now, when three Korean auto parts manufacturers and a marketing firm are taking part in this event, companies from Korea are looking for Indian companies to launch an Indian JV and we are very excited about it.”
About 70 companies are participating in the three-day event with Korea as the partner country.
An MoU was signed between marketing arm of the Ministry of Korea, WEVIO, and National Automotive Testing and R&D Infrastructure Project (NATRIP) to promote and develop business relations between Korean auto companies and their counterparts in India.
RS Kalsi, Executive Director, Maruti Suzuki India Ltd (MSIL), said the Indian auto industry is passing through a difficult phase, as the demand is not encouraging. The trend is likely to continue for the next few months. But considering the steps being taken by the Government, including launching new projects, the demand is expected to go up. He also informed that Maruti will soon start production in its upcoming plant at Bechraji, Hansalpur, in Gujarat, in 2017.
Hemant Kulkarni, Plant Head, Tata Motors, said: “As of now, production at our Sanand plant is being kept limited in line with the demand and the capacity is not being completely utilised. We may consider production of other models at this plant in future. Recently, we have launched some new models in the market and may come up with other new models.”
Companies participating in the event include Maruti Suzuki, Hyundai, Mahindra & Mahindra, Tata Motors, Ford India, Renault, Rolls Royce, BMW Bikes, BMW Cars, Harley-Davidson, and key sectoral companies like Philips, Indian Oil, Inductotherm.
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