General Motors India, the Indian arm of the American automobile manufacturer General Motors is planning to increase its focus on its export operations in India. The carmaker is betting big on its exports from India on the back of a combined production capacity of 2,82,000 units annually.
The carmaker is planning to commence its export operations in India by the end of the year 2014. Commenting on the development, Mr. Lowell Paddock President and MD GM India stated that export operations in India is attractive to the carmaker due to the easy access to skilled labor and a strong supplier base. He added that it is yet to be decided which global auto markets the automaker will be exporting its car models to.
Currently, General Motors manages its global exports from a production plant in South Korea.
Apart from its export operations, the carmaker is also planning to boost its presence in the domestic market. With this in mind, the automaker plans to increase the level of localization in order to reduce its dependence on component imports and safeguard its interests against fluctuations in foreign currency.