Financial Daily from THE HINDU group of publications
Friday, Aug 13, 2004
Financial Daily from THE HINDU group of publications Friday, Aug 13, 2004 |
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Corporate
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Announcements BMW non-committal on Indian entry Our Bureau
Kochi , Aug. 12 GERMAN auto major BMW, which recently conducted site inspections here to set up a facility, has remained non-committal on its proposed entry into the Indian market. A BMW spokesperson said that though the company is examining the possibilities of entering India, it is impossible to say at the moment the timing of its entry and nature of operations. "We follow developments in all markets, including India, of course, which has a considerable premium potential. Accordingly, the company is examining the possibilities of entering the market. However, it is impossible to say at the moment when and how we would enter the market in India," the spokesperson said in an email to Business Line. Following a visit of BMW officials to Kochi last month, speculation was rife in media that the company had almost finalised its plans to set up an assembling unit here. It was reported that the State Government had started preliminary work on preparing the land offered to BMW for setting up the assembling unit since it was certain that the facility would be set-up in Kochi itself. The State offered a 25-acre plot at Kalamassery for the unit. The BMW team had met with officials of the Kerala Industrial Infrastructure Development Corporation (KIFRA) and Cochin Special Economic Zone during their second visit to the State in three months. Industry sources say that BMW is considering other States such as Andhra Pradesh, Maharashtra and Karnataka for setting up the assembling unit. Kerala, characterised by high-level unemployment and low levels of industrialisation, is banking heavily on the BMW project, which if materialised would give a major impetus to its endeavours in attracting investments. The State is hopeful that the advantage of Kochi port, absence of other automobile companies and its high human development indices would make it a favourable destination for BMW.
More Stories on : Announcements | Cars | Kerala
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