Ford Motor Company expects its sourcing of components from India to double or even treble in the next few years, a top official of the company's Indian subsidiary said on Wednesday.
Currently, $40 million worth of components are being sourced from India for Ford Motor's global requirements, Arvind Mathew, vice president and executive director (programmes implementations and supply), Ford India, told reporters in Chennai.
Mathew was speaking after presenting the Ford Motor Company's highest supplier honour, the Gold World Excellence Award to Chennai-based Cooper Tire and Rubber Company India Pvt Ltd.
Cooper Tire and Rubber Company India is the first Indian company, which has won Ford's recognition, along with 41 other global suppliers from 13 countries, he said.
The award reflected the success of Ford India's supplier support programme and marked a major milestone for the Indian automobile industry, Vinay Piparsania, vice president, external affairs and director, sales operations, Ford India, said.
Cooper Tire and Rubber Company India, a 100 per cent subsidiary of the US based Cooper Tire and Rubber Company, is supplying brake tubes, fuel and brake bundles, clutch tubes and power steering hoses to Ford India, Ford China, Ford South Africa and Ford Mexico.
K K Tiwari, managing director of Cooper Tire and Rubber Company, India, received the award on behalf of his company.