The Indian Automotive production is one of the fastest growing today…it could reach over 3m cars in 3..4 years time.
The major global OEM's are present and all are expanding capacity ie Toyota, GM, Ford, VW, Hyundai, Honda…but our target is also the 3 fastest growing "local" OEM's;
1. Maruti- Suzuki ; the Indian market leader , selling today 600k cars also a big exporter and investing in an R&D centre,
2.TATA; many new models being developed including Euro 2,500 car!. They have a JV with Fiat for production and are also likely to buy Jaguar + Landrover.
3. Mahindra; leader in SUV/jeeps has JV with Renault, they started building Logan earlier this year, also a new plant is under construction for Renault/Nissan.
After 1 year of visits to research, develop contacts and gain new business ... We are very pleased to announce a new baby is born; A Raymond Fasteners India Private Limited.
We already have welcomed into the Group, Manish Padharia, our local CEO and Pankaj Gautam as sales manager, together with support from Stephen Lockett as a Director and Michael Singh for Rayconnect.
Early in 2008 we will start import and trading activity to meet the needs of the Indian market and later in the year production will start ( injection moulding) from the same location.
