Italian car maker Fiat plans to increase the level of component sourcing from India to US$10 million in 2006 and expects the figure to continue rising, according to local press.
Fiat India managing director De Filippis Giovanni told the Hindu Business Line: “We have been sourcing components from India for some time now and expect to increase this.”
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He said the components are being sourced for the Fiat’s Palio model in South Africa. The company had to shut down production at its plant at Kurla, which produces Palio parts, due to severe rains. Giovanni said operations in Kurla should resume from January.
“Fiat has plans to introduce new models in India, as the company works on a revival strategy in the market, our parent company will be investing in India.” he told the business line.
