Canada Automobile companies are seeking opportunity in India. As many new foreign companies such as Kia, Morris Garages and Citroen have already announced their upcoming cars in India. These three companies are coming up with MG Hector, Kia SP and Citroen C5 Aircross.
Canadian companies remarked India as “a land of opportunities.” They said that India is very well suitable for the Canadian automotive companies, suppliers to expand the business.
India is the world’s fourth largest automobile manufacturer and hoping to be the third largest soon.
India has a great population with an increasing per capita vehicle saturation. Partner of Toronto based International corporate law firm Bennett Jones, Raj Sahni said, “There are numerous opportunities for Canadian companies in the automotive space.” He gave this statement to the Business Group Owners at the Doing Business with India Event. Remarkably, the Windsor-Essex Regional Chamber of Commerce sponsored the event.
He said that India has relatively small saturation of vehicles based upon per capita than as compared to Canada. But, in the upcoming year, this number in India will surely grow.
Notably, Canada has 700 cars for every 1000 people whereas in India it is just 20 cars for every 1000 people of driving age.
Owner of Lava Tool, Jonathon Azzopardi in the last four months has travelled to India four times. He has done so in order to understand the Indian market needs. He has also travelled to India for making contracts with existing Automakers of the country. Jonathon is also Chairman of Canadian Association of Mold Makers.
Azzopardi said, “We can take those technologies which we have learned here, drop them into India, or find a partner in India to adopt those technologies and you instantly have a marriage that will bear fruit in India.”
He added, “That’s a great opportunity for SMEs (Small to Medium Enterprises).”
Now, we all have to wait which Canadian automotive companies will first plant its factory in India. Whit’sits going to happen? How 7 how much it will benefit both the countries? There are so many answered questions. Therefore, let’s just wait for everything to unveil.
So, this was about the latest event regarding the Canada automobile business and its will to contract with India. If you have any views regarding this then let us know in the comments below. Stay tuned to Daily Patron for fresh and updates news.
