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With an eye on the rapidly growing Indian market, global giants are favouring India, with French petroleum major Total, looking at setting up a refinery, and automobile biggie Nissan, planning to manufacture cars in the country. Total, the worlds largest oil and gas company, intends to set up the refinery jointly with a local player, Gary Jones, senior vice- president for refining and marketing for Asia, Total, said that with a huge investment of around $ 450 million in a refinery, a joint venture with a local player made business sense. India, Asias fourth largest economy, imports almost 70 per cent of its crude oil. Nissan intends to source automobile components from the country in an effort to broaden its base in India. Yoshie Motohiro, managing director. Nissan Motor India Pvt Ltd (NMIPL), expected India to be a key contributor to Nissans growth in the near future. NMIPL, set up with an investment of Rs 4.2 crore. will be responsible for the import of Nissan vehicles and spare parts. as well as the sales, marketing, distribution, and after sales support of Nissans models in India. |
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| Posted : 9/1/2005 |
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