GM To Buy Auto Parts Worth $1 Billion/Year From India In 4-5 Yrs

NEW DELHI -(Dow Jones)- General Motors Corp. (GM) plans to buy automobile parts worth $1 billion annually from India in coming years, a senior company executive said Tuesday.

“We see sourcing from India at over $1 billion every year…It will take the market some time to reach this level so I would say, we’d do this in about four to five years,” D. Nick Reilly, group vice president and president, GM, Asia Pacific, told reporters.

He said that as the company expands in India, it would also source more locally and put local suppliers on a global bidder list.

- By Nitin Luthra, Dow Jones Newswires, 91-11-2307-4020, chandrasekhar.jayachandran@dowjones.com

-Edited by Alan Soughley

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