Global auto giant Toyota is planning to set up a gearbox manufacturing plant in India to serve the Asian market.
This was revealed by Commerce and Industry Minister Kamal Nath at the 10th Asia-Pacific Automotive Industry Roundtable.
During his visit to India late last month, Toyota chairman Okuda Hiroshi praised the quality of products made in India, which he said was better than even Japanese companies.
"The economies of India and Thailand are growing fast because of the focus on quality in manufacturing in these countries. Despite appeals at the highest level to pay greater attention to quality, Japanese companies are not showing much interest in winning the Deming Prize while the quality movement is spreading fast in India and many companies are winning the coveted award,'' he said.
Nath said India was an attractive destination for global auto giants like General Motors, Ford and Hyundai who were setting base in India, despite the absence of specific trade agreements.
He assured the auto companies all help such as granting SEZ status and a re-look at tax structure for setting up testing centres and manufacturing plants in a bid to make India the automotive hub of the world.
