General Motors (GM) India would enhance the capacity of its manufacturing plant in Vadodara, Gujarat from 65,000 to 85,000 units to meet the increasing demands, a top company official said .
Terming GM as the fastest growing brand in India, GM India's President-cum-Managing Director Rajeev Chaba said the enhancement would add to the employment capacity of the plant by 400 people.
"Currently 3,500 people are being provided direct and indirect employment through the plant and with the increase in capacity, 400 more direct employees would be added," he said, adding that "extra investment of Rs 10 crore would be put in, taking the entire investment to Rs 1,400 crore".
As part of the largest expansion of its product line-up in its history, GM India has announced launch of Chevrolet Indian revolution and unveiled three new Chevrolet passenger cars.
Speaking to the press during the display of these new products for its dealers, Chaba said that the company estimated 18 per cent growth in Indian market during 2005.
"In 2004, 25,000 units were sold, 2005 saw sale of 30,000 units and sale of 50,000 units is targetted for the year 2006," he said.
The automobile giant also said that it expected the ensuing budget to focus on rationalising the duties so that the industry could compete better in the global market.
"In 2004, 25,000 units were sold, 2005 saw sale of 30,000 units and sale of 50,000 units is targetted for the year 2006," he said.
The automobile giant also said that it expected the ensuing budget to focus on rationalising the duties so that the industry could compete better in the global market.
"Import duty has to be in line with World Trade Organisation (WTO) commitment and enough incentives should be given to the automobile industy to compete globally", Chaba said.
The budget is expected to be pro-industry, especially keeping in mind that automobile industry contributes considerable to the country's GDP, he said.
Chaba also said that the local issues like infrastructure including road, port and power should be taken care of in the budget.
The Society of Indian Automative Manufacturers (SIAM) has conveyed its expectations to the Centre at their pre-budget meetings, he added.