Italian auto major Fiat, which plans to bring in a slew of products such as the Ferrari, Alfa Romeo and Maserati to India, is increasing component sourcing from the country expects to touch 150 million euros this year.
"Till three years back component sourcing from India for Fiat's global operations was nill. In the last few years it has increased a lot and this year it will cross the 150 million euro mark," Alfredo Altavilla, chief executive officer of Fiat Powertrain Technologies SPA, told PTI.
Fiat has been sourcing a wide range of components and expects it to grow by five per cent on a conservative estimate, he added. The company, which produces 1.3-litre multijet and a new five-speed transmission from its Ranjangaon unit in Maharashtra, is scouting for more customers in India.
"By introducing our small diesel engines, we are also looking for more customers in India," Altavilla said.
Tata Motors' new Indica will be driven on its multijet engines, while Maruti Suzuki manufactures this on its own under a license from the company at the Manesar plant.
On possibility of exporting these engines, he said Fiat would initially focus on India and overseas sales would depend on how much Indian partner Tata Motors sources from it.
He, however, added that since the same engine was also produced from Poland, exports to Europe could be minimal.