Posted on 09/06/2009 10:55:12 PM PDT by nwrep
Japan's Suzuki Motor (7269.T) said it plans to invest about 20 billion yen ($215 million) to build a new car factory in India, aiming to upgrade its production facilities in the face of growing competition.
Suzuki, which controls about half the Indian car market through unit Maruti Suzuki India Ltd (MRTI.BO), said late on Saturday that the new facility would come on-line as early as 2011 and have an annual output capacity of about 250,000 cars.
The plant will expand its existing Manesar facility in the state of Haryana, about 50 kilometres (30 miles) from New Dehli.
(Excerpt) Read more at reuters.com ...
India is getting more affluent.
Surprised?
India to Cut Corporate Tax Rates, Broaden Base to Raise Revenue
http://www.bloomberg.com/apps/news?pid=20601091&sid=aR1UK78V5bqw
India understands that there is an optimal tax point and the strangulation rates of the USA are nowhere close to it.
“India’s government proposed reducing corporate tax rates to a record low while broadening the tax base to fund an expanding budget deficit in the biggest change to tax laws in almost five decades.”
And
http://online.wsj.com/article/SB125197712332482891.html
Fiat to Buy $1 Billion of Auto Parts from India
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