Mahindra & Mahindra is exploring the possibility of setting up a production plant in Sri Lanka which would cater to the markets in Sri Lanka, Pakistan and Bangladesh.
Mahindra and Mahindra’s Vice Chairman, Mr. Anand Mahindra stated that outside India, Sri Lanka is the company’s largest market and its automobile market is expected to achieve a 700 percent growth in 2011. The authorized dealer for Sri Lanka, Ideal Group of Companies, has sold of more than 10,000 Mahindra vehicles in Sri Lanka.
According to Ideal Group Chairman, Mr. Nalin Welgama, Mahindra Group had shown great interest in setting up a new plant in Sri Lanka to cater to its domestic market and the markets of Pakistan and Bangladesh. Mr. Welgama also stated that the company’s projected sales of 12,500 vehicles for the 2011-2012 fiscal year would also help in opening the doors for Mahindra to set up its plant in Sri Lanka.